JFB Construction Holdings Announces Update regarding 2-for-1 Stock Split

PALM BEACH, Fla., March 12, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB) (“JFB” or the “Company”) today announced an update with regard to the recently announced 2-for-1 stock split of the Company’s issued and outstanding shares of common stock.

The stock split is now expected to become effective on March 24, 2026, for stockholders of record as of close of business on March 23, 2026, at which time every one share of JFB common stock will be automatically split into two shares of common stock. Stockholders of record will receive one additional share of common stock for each share held on the record date.

Trading of the Company’s common stock on the Nasdaq Capital Market is expected to begin on a split-adjusted basis after market close on March 23, 2026 under the Company’s existing ticker symbol “JFB.”

As previously announced, the stock split is being implemented in connection with the Company’s previously announced $1.5 billion all-stock business combination with XTEND, a software-first defense technology company anchored by its AI XTEND Operating System (XOS). The stock split is intended to enhance trading liquidity and align the Company’s capital structure in connection with the pending business combination.

The total market capitalization of the Company and the proportionate ownership interest of each stockholder will remain unchanged as a result of the stock split. Following the stock split, the number of outstanding shares of common stock will increase from approximately 7,014,090 million shares to approximately 14,028,180 million shares. The par value of the Company’s common stock will remain unchanged.

Joseph F. Basile III, Chief Executive Officer of JFB, commented:

“This stock split represents a proactive and strategic step as we prepare to take XTEND AI Robotics public. By increasing the number of shares outstanding and lowering the per-share price, we aim to enhance accessibility for investors while aligning the combined company’s share structure to support the investor base we intend to attract as a leading U.S. defense technology company listed on Nasdaq.”

Details of the Stock Split

At the effective time of the stock split, every one share of JFB common stock issued and outstanding will be automatically split into two shares of JFB common stock without any action required by stockholders. The number of authorized shares of JFB common stock will be proportionately increased. No fractional shares will be issued. The Company’s common stock will continue to trade on Nasdaq under the symbol “JFB” and will be assigned a new CUSIP number, which will be announced prior to the effective date.

Stockholders holding shares in street name through a brokerage account or bank will have their accounts automatically adjusted to reflect the stock split. Registered stockholders should contact the Company’s transfer agent, ClearTrust, LLC, at (813) 235-4490 or Inbox@ClearTrustTransfer.com, with any questions.

The stock split is separate from and does not impact the terms of the previously announced business combination between JFB and XTEND. The merger remains subject to customary closing conditions and regulatory approvals and is expected to close during the middle of 2026. Upon closing, the combined company will be renamed XTEND AI Robotics and trade on Nasdaq under the ticker symbol “XTND.”

About JFB Construction Holdings

JFB Construction Holdings (Nasdaq: JFB) is a real estate development and construction company that has provided general contracting and construction management services in 36 U.S. states. For more information, visit the company’s SEC filings at www.sec.gov.

About XTEND

XTEND is a software-first defense and security technology company building a unified operating ecosystem for human-guided autonomy across air, ground, and maritime domains. Anchored by its proprietary XOS operating system, XTEND’s products are designed to enable defense, public safety, and private security organizations to deploy, scale, and operate autonomous systems with immediate operational readiness in complex, high-risk environments. Founded in Tel Aviv, Israel, and headquartered in Tampa, Florida, the company combines battle-proven software with mission-optimized platforms, payloads, and manufacturing infrastructure to deliver integrated, NDAA-compliant solutions at scale. For more information, visit www.xtend.me.

Cautionary Note Regarding Forward-Looking Statements

This communication contains, and oral statements made from time to time by our representatives may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements regarding the potential transaction between Xtend Reality Expansion Ltd. (“Xtend”) and JFB Construction Holdings (“JFB”), including statements regarding the expected impacts and benefits of the potential transaction, timing of the transaction closing, and strategic initiatives for Xtend AI Robotics, Inc. (“NewCo”) following the closing. All statements other than statements of historical facts contained in this communication may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “outlook”, “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this communication are only predictions. Xtend’s and JFB’s management have based these forward-looking statements largely on their current expectations and projections about future events and financial trends that management believes may affect its business, financial condition and results of operations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from what is expressed or implied by the forward-looking statements, including, but not limited to: the transaction may not be consummated; there may be difficulties with the integration and in realizing the expected benefits of the transaction; Xtend and JFB may need to use resources that are needed in other parts of its business to do so; there may be liabilities that are not known, probable or estimable at this time; the transaction may result in the diversion of management’s time and attention to issues relating to the transaction and integration; expected synergies and operating efficiencies attributable to the transaction may not be achieved within its expected time-frames or at all; there may be significant transaction costs and integration costs in connection with the transaction; the possibility that JFB will not have sufficient cash at close to satisfy the minimum cash condition; unfavorable outcome of legal proceedings that may be instituted against JFB and Xtend following the announcement of the transaction; risks inherent to the business may result in additional strategic and operational risks, which may impact Xtend’s, NewCo’s and JFB’s risk profiles, which each company may not be able to mitigate effectively; JFB’s ability to complete construction projects or other transactions on schedule and budget; changes in weather and occurrence of natural disasters and pandemics; recent imposition of tariffs by governments on construction materials, such as steel, aluminum and lumber; disruptions in supply chains; increase in the cost of labor and construction materials; JFB’s ability to maintain safe work sites; Xtend’s dependence on a limited number of defense and governmental security customers for a substantial portion of its business; significant delays or reductions in appropriations, Xtend’s programs and certain government fundings and programs more broadly, including as a result of a prolonged continuing resolution and/or government shutdown, and/or related to the global security environment or other global events; increased competition within JFB’s and Xtend’s markets and bid protests; changes in procurement and other U.S. and foreign laws, including changes through executive orders, contract terms and practices applicable to our industry, findings by certain applicable governments as to our compliance with such requirements, more aggressive enforcement of such requirements and changes in Xtend’s customers’ business practices globally; the improper conduct of employees, agents, subcontractors, suppliers, business partners or joint ventures in which Xtend participates, including the impact on Xtend’s reputation and its ability to do business; cyber and other security threats or disruptions faced by Xtend and JFB, its customers or its suppliers and other partners, and changes in related regulations; and Xtend’s ability to innovate, develop new products and technologies, progress and benefit from digital transformation and maintain technologies to meet the needs of Xtend’s customers. In addition, a number of important factors could cause JFB’s, Xtend’s or NewCo’s actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements, including but not limited to those important factors that will be discussed in the section entitled “Risk Factors” in the registration statement on Form S-4 to be filed by JFB and NewCo, as any such factors may be updated from time to time in other filings with the Securities and Exchange Commission (the “SEC”), including without limitation Xtend’s investor relations site at https://www.xtend.me/newsroom and JFB’s investor relations site at https://investors.jfbconstruction.net/. Forward-looking statements speak only as of the date they are made and, except as may be required under applicable law, neither Xtend nor JFB undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Important Information for Investors and Stockholders

This communication is for informational purposes only and is not intended to, and does not, constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any issuance or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. In connection with the transaction, XTEND AI Robotics will file a registration statement on Form S-4, which will include an information statement of JFB, a proxy statement of XTEND and constitute a prospectus of XTEND AI Robotics. After the registration statement is declared effective, JFB will mail to its stockholders a definitive information statement that will form part of the registration statement. This communication is not a substitute for the information statement/proxy statement/prospectus or registration statement or for any other document that JFB or XTEND AI Robotics may file with the SEC and send to its stockholders in connection with the transaction. INVESTORS AND SECURITY HOLDERS OF XTEND AND JFB ARE URGED TO READ THE INFORMATION STATEMENT/PROXY STATEMENT/PROSPECTUS OR REGISTRATION STATEMENT AND ANY OTHER DOCUMENT THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the information statement/prospectus (when available) and other documents filed with the SEC by JFB through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by JFB will be available free of charge on JFB’s website at https://investors.jfbconstruction.net/.

JFB Construction Holdings Contact:

CORE IR
Mike Mason
516 222 2560
investors@jfbconstruction.net

XTEND Contact:
Headline Media
Sarah Small
929 255 1449
sarah@headline.media

XTEND Investor Relations:
MZ North America
Shannon Devine
XTEND@mzgroup.us
203-741-8811