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.
• Closing cash minimum was cut to $60 million from $110 million; the outside closing date moved to Oct. 31, 2026.
• Xtend’s share-exchange schedule deadline was shortened to three business days; JFB’s related cash and capitalization delivery window to 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.

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