All NYSE listing requirements have been satisfied ahead of anticipated closing

TAMPA, Fla., Sept. 03, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings (NASDAQ:JFB) and XTEND, a leader in software systems and artificial intelligence-powered robotics, announced today that XTEND has satisfied the minimum cash condition to closing of the previously announced business combination, with $60 million in cash received . With this condition satisfied, the transaction remains on track to close today, September 3, 2026. Upon closing, the combined company will be renamed XTEND AI Robotics, Inc. and its common stock is expected to begin trading on the New York Stock Exchange ("NYSE") under the ticker symbol "XTND" on September 4, 2026.

The $60 million in cash satisfies the minimum cash condition set forth in the merger agreement and is expected to support XTEND's working capital and continued growth as it transitions to operating as a publicly traded company.

The anticipated closing follows the U.S. Securities and Exchange Commission's ("SEC") declaration of effectiveness, on August 11, 2026, of the Form S-4 registration statement filed in connection with the proposed business combination, clearing a key regulatory milestone ahead of closing. The final information statement/prospectus was mailed to JFB stockholders of record as of August 11, 2026. All NYSE listing requirements have now been satisfied, and the transaction remains subject only to other customary closing conditions.