Israeli drone maker XTEND merges with JFB Construction, will go public at USD1.5b valuation
Israeli drone operating system developer XTEND agreed to merge with Florida-based JFB Construction Holdings in an all-stock transaction that will take the company public on the Nasdaq at a valuation of USD 1.5 billion.
The deal includes a USD 152 million strategic investment from a group of investors led by Eric Trump, son of U.S. President Donald Trump, alongside Protego Ventures and others. The combined company is expected to be renamed XTEND AI Robotics and trade under the ticker “XTND” following completion, which is targeted for mid-2026.
Paul Hastings, H-F & Co., Meitar, and Banai Azriel Stern advised XTEND.
Partners Gil Savir, Brandon Bortner and Steve Camahort and of counsel Ryan Brewer led the Paul Hastings team, which included partners Andrew Davis, Sally Evans, Sarah Gagan, Brad Ritter, Keith Schomig and Dan Stellenberg, of counsel Talya Hutchison and Jennifer D. Riddle, and associates Michelle Sidle, Nat Brown, Katie Katsuki, Shawn Kim, Erica Lee and Colin Wetmore.
The H-F & Co. team was led by Nitzan Hirsch-Falk, Yoav Meer, Anat Nachum, Dr. Adi Gillat, Orly Charas, Noa Reisin Tal, Yael Kolodny, Noa Nissan, Shiraz Neri, Omri Rachely, Maayan Katz Oz, and Ilan Friedgut.
Sichenzia Ross Ference Carmel and Amit Pollak Matlon acted for JFB.
