XTEND and JFB complete business combination, raising USD110m in total capital
XTEND Reality Expansion and JFB Construction Holdings have completed their previously announced business combination, raising approximately USD 110 million in total capital and taking the Israeli-founded robotics company public in the US.
Following completion, the combined company was renamed XTEND AI Robotics, Inc., with its shares beginning trading on the New York Stock Exchange under the ticker “XTND.” XTEND and JFB are now wholly owned subsidiaries of the newly formed public company.
JFB delivered approximately USD 67.7 million at closing, exceeding its USD 60 million minimum cash commitment. The additional capital is expected to support XTEND’s working capital, manufacturing expansion, and continued growth across defense, homeland security, and commercial security markets.
XTEND develops AI-powered robotics and autonomous systems through its proprietary XOS operating platform. The company has deployed more than 12,500 systems across more than 30 countries and operates manufacturing facilities in the US, UK, Singapore, Israel, and Latvia.
Paul Hastings served as global legal counsel to XTEND, with a team led by Gil Savir, Brandon Bortner, Steve Camahort, Ryan Brewer, Andrew Davis, Sally Evans, Sarah Gagan, Brad Ritter, Keith Schomig, Dan Stellenberg, Talya Hutchison, Jennifer Riddle, Michelle Sidle, Bryce Couch, Nat Brown, Katelyn James Katsuki, Shawn Kim, Erica Lee, Colin Wetmore, and Chai Digsay.
Meitar and Banai Azriel Stern served as Israeli legal counsel to XTEND.
Sichenzia Ross Ference Carmel and Amit, Pollak, Matalon represented JFB.
