Published • loading... • Updated
Eric Trump invests in Israeli drone maker XTEND's merger with Florida construction firm
Eric Trump joins a $152 million pre-IPO investment to merge XTEND with JFB, targeting AI-driven drone production with U.S. Department of Defense contracts.
- Eric Trump is backing a $1.5bn all-stock merger that will combine Israeli XTEND with Florida-based JFB Construction Holdings to take XTEND public on Nasdaq under the XTND ticker.
- To scale U.S. manufacturing, the merger will expand NDAA-compliant production at XTEND’s Tampa, Florida facility and accelerate deliveries to US, NATO and Asia, this month selected for the Defense Department's Drone Dominance Program.
- The merger has unanimous board approval and written shareholder consent, with XTEND shareholders expected to hold 70% and JFB shareholders 30%.
- Critics say the timing renews conflict-of-interest concerns because the Trump family expands business holdings during the presidency, appoints Stefan Passantino to JFB board, and files trademark applications for airports.
- With battlefield use and Pentagon contracts driving demand, XTEND secured a $38.1 million deal in December 2024, boosting defense-tech valuations, market interest, and Silicon Valley investment.
Insights by Ground AI
19 Articles
19 Articles
Eric Trump, son of U.S. President Donald Trump, invests in Israel's XTEND drone manufacturer as part of a $1.5 billion deal to get the company on the stock market.Read more
Israeli drone operating system company Xtend will enter the Nasdaq at $1.5B
Company will merge with New York-listed JFB; merger includes $152 million pre-IPO investment; investors include Eric Trump and Protego Defense Fund, which also led the previous round of investment in Xtend
·Tel Aviv-Yafo, Israel
Read Full ArticleCoverage Details
Total News Sources19
Leaning Left6Leaning Right1Center3Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 30%
Factuality
To view factuality data please Upgrade to Premium














