XTEND, a defense technology company that opened its U.S. headquarters and manufacturing operation in Tampa last year, plans to go public in a $1.5B merger with JFB Construction Holdings.
JFB said Tuesday it signed a definitive agreement to combine with XTEND in an all-stock transaction.
The new company is expected to be named XTEND AI Robotics and list on Nasdaq under the ticker XTND after the deal closes.
The agreement would take a Tampa manufacturer of autonomous drone systems to the public markets less than a year after opening its local facility.
From lease to listing
In 2025, XTEND announced it would establish its U.S. headquarters in Tampa.
The company leased more than 5,700 square feet at Crossroads Industrial Center at 5247 Crossroads Park Drive and said it planned to create up to 100 jobs over three years.
XTEND opened the facility on May 1, 2025. It projected 19 new jobs in 2025, including roles in business development, manufacturing production and assembly and program management.
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“XTEND selected Tampa as the location for our U.S. headquarters and advanced drone manufacturing facility for numerous reasons, foremost among them its proximity to a critical defense and public safety customer base,” said Aviv Shapira, XTEND’s CEO and co-founder. “The region’s business-friendly environment, access to top-tier talent and strong support from leaders at every level make Tampa the ideal place to scale our operations and bring innovative drone technology to the market. We are excited to be part of this dynamic community and proud to call Tampa our new home.”
MacDill Air Force Base, home to U.S. Central Command and U.S. Special Operations Command, sits minutes away from the site.
What XTEND builds
XTEND develops human-guided drone systems used in military and law enforcement operations.
The company builds its products around its proprietary XTEND Operating System, known as XOS, which allows remote operators to control multiple air, ground and maritime drones during missions.
“The demand for systems that keep operators out of harm’s way is surging as the global security environment grows more volatile, and this represents one of the largest market opportunities in defense technology today,” Shapira said in a statement announcing the merger. “By combining our platform with JFB, we are acquiring the resources we need to scale our manufacturing capabilities in the US and gaining access to the US public markets.”
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XTEND said the transaction will expand NDAA-compliant domestic production at its Tampa facility and increase deliveries to customers in the U.S., NATO allies and Asia.
Ownership and structure
JFB CEO Joseph F. Basile III said XTEND’s operating system drove the transaction.
“What drew us to XTEND is the strength and scalability of its AI-driven operating system,” Basile said. “By pairing XTEND’s operating system and advanced AI capabilities with JFB’s execution, infrastructure, and buildout expertise, we see a clear opportunity to accelerate US manufacturing, scale production responsibly, and support a next-generation defense technology platform built in America and ready for the public markets.”
The companies said strategic investors include Eric Trump, Unusual Machines, American Ventures, Protego Ventures, Aliya Capital and Agostinelli Group.
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Under the merger agreement, XTEND shareholders would own about 70% of the combined company on a fully diluted pro forma basis. JFB shareholders would own about 30%, excluding shares reserved for equity incentive plans.
Both boards unanimously approved the merger. JFB said shareholders holding a majority of its outstanding common stock approved the deal by written consent. The companies expect to close the transaction in mid 2026.
XTEND was founded in 2018 by brothers Aviv and Matteo Shapira in partnership with Rubi Lihani. The company said its systems have been deployed in military and law enforcement settings, including by the U.S. military and the Israeli Defense Forces.
If the deal closes as planned in mid-2026, XTEND AI Robotics would begin trading on Nasdaq under the ticker XTND.
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