JFB Construction amends Xtend merger deal, extends closing deadline to Oct. 31, 2026

JFB Construction Holdings updated its merger plan with Xtend, adding a two-step structure under a new holding company, Xtend AI Robotics.

The outside closing date was moved to Oct. 31, 2026.

The closing cash minimum was cut to $60 million from $110 million.

Xtend’s share-exchange schedule deadline was shortened to three business days, while JFB’s related cash and capitalization delivery window was set at five business days.

Newco agreed to a six-month floor of $6 per share for equity financings following closing.

Investor support terms include a 180-day lock-up; certain warrants convert at $6.34 per share, capped at 6,999,928 Newco shares.