XTEND Reality Expansion begins trading on NYSE after $1.5B merger with JFB Construction Holdings

XTEND Reality Expansion Ltd., an Israeli company building AI-powered defense drones and autonomous robotic systems, started trading on the New York Stock Exchange on September 4 under the ticker XTND. The listing follows a completed merger with Nasdaq-listed JFB Construction Holdings, valuing the combined entity at $1.5 billion. The transaction, structured as an all-stock deal, was designed to give XTEND a faster path to public markets than a traditional IPO would allow, using roughly $100 to $110 million in existing private investments to get the job done. How the deal came together The merger closed on September 3, 2026, with $60 million in cash deployed to fulfill closing requirements. XTEND is now incorporated in Delaware, a standard move for companies seeking US institutional investor access and a familiar legal framework. CEO Aviv Shapira described the merger as a turning point for the company’s ambitions in defense, law enforcement, and security. Revenue growing fast, losses growing too XTEND’s financial trajectory tells a familiar growth-stage story. Q1 2026 revenue came in at $5.8 million, representing a 234% increase compared to the same period a year earlier. Total reven...