Technology

XTEND Receives $60 Million, Clears Merger Cash Condition

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XTEND said it received $60 million, satisfying the minimum-cash condition for its previously announced business combination with JFB Construction Holdings. The companies said the merger remained on track to close September 3, subject to customary conditions, after which the combined company would be renamed XTEND AI Robotics, Inc. Its shares are expected to begin trading on the New York Stock Exchange on September 4 under the ticker XTND, with all listing requirements satisfied. XTEND said the cash would support working capital and continued growth; the Israeli-founded company reports more than 12,500 systems deployed across over 30 countries.

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