JFB Construction Shares Fall On $1.5B Deal to Merge With Drone Maker Xtend

Dow Jones

02/18

By Amira McKee

Shares of JFB Construction tumbled after the company inked a $1.5 billion deal to merge with Israeli drone maker Xtend.

The stock plummeted 49% to $15.29 in midday Tuesday trading. The shares have more than doubled in the past six months.

The all-stock transaction will take Xtend public as part of a joint company to be renamed Xtend AI Robotics, JFB said Tuesday. The Florida construction company said the combined business expects to be well positioned to become a leading U.S. provider of AI-driven and autonomous defense and security solutions.

After the all-stock transaction closes, Xtend and JFB shareholders will receive shares of a new holding company Xtend AI Robotics. The new company will be listed on the Nasdaq under the ticker XTND.

The combined business also will be supported by investments from Eric Trump, Unusual Machines, American Ventures, Protego Ventures and Aliya Capital.

The companies expect the transaction to close during the middle of 2026.

Write to Amira McKee at amira.mckee@wsj.com

(END) Dow Jones Newswires

February 17, 2026 12:13 ET (17:13 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The shares have more than doubled in the past six months. \n\n\n  The all-stock transaction will take Xtend public as part of a joint company to be renamed Xtend AI Robotics, JFB said Tuesday. The Florida construction company said the combined business expects to be well positioned to become a leading U.S. provider of AI-driven and autonomous defense and security solutions. \n\n\n  After the all-stock transaction closes, Xtend and JFB shareholders will receive shares of a new holding company Xtend AI Robotics. 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