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Eric Trump invests in Israeli drone maker XTEND's merger with Florida construction firm
Eric Trump invests $152 million pre-IPO in $1.5 billion merger to take Israeli drone maker XTEND public, boosting U.S. production for growing Pentagon drone demand.
- On February 17, 2026, Eric Trump invests in a $1.5 billion merger between Israeli drone maker XTEND and Florida-based JFB Construction Holdings to take XTEND public.
- By scaling U.S. manufacturing, the deal will let XTEND scale production at its Tampa, Florida production facility and gain access to U.S. public markets, serving customers in the U.S., NATO allies, and Asia.
- A $152 million pre-IPO investment supports the merger, with XTEND shareholders expected to hold 70% and JFB shareholders 30%, both boards and JFB shareholders approved unanimously.
- Amid renewed ethics scrutiny, Kedric Payne, Campaign Legal Center ethics director, noted the deal renews conflict-of-interest concerns as Eric Trump invests in the Israeli drone maker XTEND during the merger, while the White House and the company did not respond.
- With existing Pentagon contracts, the company has secured multimillion-dollar deals, including an $38.1 million contract in December 2024, highlighting U.S. Department of Defense demand.
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13 Articles
13 Articles
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
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Coverage Details
Total News Sources13
Leaning Left6Leaning Right0Center2Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 25%
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