JFB Construction Holdings announced that its merger partner, XTEND, secured a multi-year defense contract with a European NATO member’s Ministry of Defense. The agreement is valued at up to $15 million.
The contract provides a secured value of $4.5 million for the first year. This deal comes as allied nations seek alternatives to Chinese-made drone technology.
JFB shares rose 1.9% in after-hours trading on August 17.
The merger is expected to close on September 8, 2026. The combined company will be named XTEND AI Robotics, Inc. and trade on the NYSE under the ticker XTND.