Shares of JFB Construction Holdings (NASDAQ:JFB) moved higher on Tuesday after XTEND, the business it plans to merge with, won a multi-million-dollar defense contract to supply more than 100 Scorpio drone systems to a customer in the Asia-Pacific region.
The agreement is described by XTEND as its largest order in the Asia-Pacific to date and will broaden deployments of XOS, the company’s operating system for autonomous robotics. Scheduled deliveries for the Scorpio systems are expected to commence in 2026 and continue into 2027.
XOS functions as the software core across XTEND’s air, ground, and maritime robotic platforms, combining artificial intelligence, edge autonomy, and human supervision to enable coordinated mission execution across multiple autonomous systems. According to the company, its autonomous platforms are already active in more than 30 countries, with more than 10,000 systems deployed across defense, security, and special mission organizations.
XTEND and JFB Construction Holdings reached a definitive merger agreement on February 17, 2026. The all-stock transaction includes strategic investments from a group of backers identified as Eric Trump, Unusual Machines, American Ventures, Protego Ventures, and Aliya Capital. After the business combination closes, the combined entity is expected to be renamed XTEND AI Robotics and to trade under the ticker "XTND" on a U.S. national securities exchange.
The announced Asia-Pacific contract marks an expansion of XTEND’s commercial footprint in that region and will extend the operational reach of XOS across the company’s robotics portfolio. Deliveries stretching into 2027 indicate a multi-year implementation schedule for the ordered Scorpio systems.
Investors in JFB reacted to the announcement with a gain in the company’s shares, reflecting market response to the contract news and its implications for the planned merger partner.