XTEND, an Israeli developer of a human-guided AI drone operating system, announced plans Tuesday to merge with US firm JFB Construction Holdings, as part of a deal to go public on the Nasdaq, at a company valuation of $1.5 billion.

The merger deal is backed by $152 million in funds raised from strategic investors, including Eric Trump, the son of US President Donald Trump; Israel’s Protego Ventures; Florida-based dronemaker Unusual Machines; Texas-based real estate development firm American Ventures, LLC; and Miami-based Aliya Capital.

Upon completion of the all-stock merger transaction with Florida-based real estate development and construction company JFB, expected in mid-2026, the joint company will be renamed XTEND AI Robotics and be listed on the Nasdaq exchange under the ticker “XTND.”

XTEND was founded in 2018 by brothers Aviv and Matteo Shapira, who previously co-founded Replay Technologies, which was acquired by Intel in 2016 for $175 million; Rubi Liani, founder of the Israeli Drone Racing League; and defense and UAV expert Adir Tubi. The technology behind the startup’s human-guided drone operating system was initially developed to help the Israeli army shoot down incendiary balloons on the border with........

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