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May 28, 2026
XTEND selected among a limited group of companies invited to participate in next stage of major U.S. Department of Defense initiative expected to support procurement of more than 200,000 drones by 2027 XTEND set to go public through proposed merger with JFB Construction Holdings (Nasdaq: JFB) mid-2026 PALM BEACH, Fla., May 28, 2026 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB) (“JFB” or the “Company”), which recently announced its proposed business combination with XTEND, a leader in AI-powered autonomous robotics and operating systems, today announced that XTEND was selected as one of a limited group of companies invited to participate in the Phase II Qualifier of the U.S. Department of Defense’s Drone Dominance Program (“DDP”). The Drone Dominance Program is a large-scale U.S. defense initiative designed to accelerate the deployment of next-generation autonomous drone technologies across the U.S. military. According to public statements released by the program, the initiative is intended to support the procurement of more than 200,000 drones by 2027 for deployment across complex operational environments.  The Drone Dominance Program represents one of the largest emerging U.S. initiatives focused on accelerating the deployment and domestic scaling of autonomous drone systems for future military operations. XTEND was selected among a limited group of companies invited to participate in the next phase of the program, which is expected to take place this summer at Camp Grayling, Michigan. The qualifier event is expected to evaluate autonomous systems across complex operational scenarios and contested mission environments. During the qualifier event, XTEND expects to demonstrate how its proprietary XOS operating system enables scalable human-guided autonomous operations across complex and contested environments. XTEND’s proprietary XOS operating system powers human-guided autonomous platforms designed for defense, national security and public safety missions. XTEND systems have been deployed operationally in complex real-world environments and are designed to support scalable autonomous missions across defense, national security and public safety applications while enhancing operator effectiveness and reducing risk to personnel. “Modern operational environments require autonomous systems that can scale rapidly, operate reliably in contested conditions, and help keep operators out of harm’s way,” said Aviv Shapira, Co-Founder and Chief Executive Officer of XTEND. “We believe our participation in the next phase of the Drone Dominance Program reflects the growing importance of AI-powered autonomy, human-guided mission systems, and scalable operational robotics within the future U.S. defense ecosystem.” “XTEND’s advancement into the next phase of the Drone Dominance Program represents meaningful validation of the company’s autonomous systems, operational capabilities and growing role within the U.S. defense ecosystem,” said Joseph F. Basile, III, Chief Executive Officer of JFB Construction Holdings. “We believe this initiative reflects the Department of Defense’s increasing focus on scalable autonomous technologies, and XTEND is well positioned to support that evolving operational need.” +++ As announced on February 17, 2026, JFB Construction Holdings (Nasdaq: JFB) and XTEND entered into a definitive agreement to combine with XTEND in an all-stock transaction. The business combination is further supported by strategic investments from Eric Trump, Unusual Machines, American Ventures, LLC, Protego Ventures, and Aliya Capital. Following the closing of the business combination, the joint company is expected to be renamed XTEND AI Robotics and be listed on a U.S. national securities exchange under the “XTND.” About XTEND XTEND is a leader in software systems and artificial intelligence-powered robotics, deployed in high-threat, complex operational environments where human exposure carries significant risk. Powered by its proprietary XTEND Operating System (XOS), XTEND’s integrated software and advanced robotic hardware solutions are designed to provide autonomy at the edge. Operating across defense, law enforcement, and private security missions through a platform of robots, drones, and robotic subsystems, XTEND’s open architecture platform facilitates scalability across partners and third-party applications. With over 10,000 systems deployed in over 30 countries, XTEND’s solutions have been validated in five combat zones and operationally deployed by national defense, special-mission units, and security organizations across the globe. Founded in Tel Aviv, Israel, and headquartered in Tampa, Florida, XTEND delivers NDAA-compliant solutions through a global network of regional XFAB manufacturing facilities located in the U.S., the U.K., Singapore, Israel, and Latvia. For more information, visit www.xtend.me . 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 . 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 expected size of the U.S. defense budgets for tactical strike and defense programs, the impact of Xtend receiving U.S. Army Fuze Safety Board for its high-voltage safety and arming system for FPV attack drones, 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 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, NewCo and JFB filed a registration statement on Form S-4, which will include an information statement of JFB and a preliminary prospectus of NewCo. 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/prospectus or registration statement or for any other document that JFB filed and 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/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
May 27, 2026
Powerus’ MatrixFold Dual-Use Attack Drone is part of the next generation of American-built one-way attack drones Powerus recently announced a proposed merger with Aureus Greenway Holdings Inc. (Nasdaq: PUSA), positioning Powerus to become publicly traded upon completion WEST PALM BEACH, Fla., May 27, 2026 (GLOBE NEWSWIRE) -- Autonomous Power Corporation, doing business as "Powerus ," today announced that it has been selected to compete in the qualifier for Phase II of the Department of War's Drone Dominance Program with its MatrixFold multi-purpose attack drone. With this qualification, Powerus becomes part of the $1 billion Pentagon initiative to procure and field tens of thousands of low-cost, one-way attack drones, with the aim of accelerating combat capability and strengthening the U.S. drone manufacturing base.  Winners of the Program will have demonstrated the ability to produce capable, low-cost, secure supply chains for sUAS at scale, enabling the U.S. military to integrate these capabilities into future acquisition pathways. Following qualification, the next parts of Phase II involve a production and delivery test to prove manufacturing readiness, and the Gauntlet II to identify the most capable systems for scaling and fielding. The Gauntlet test event concludes with the delivery of sUAS orders to the winners. The Phase II Qualifier window is currently estimated for June 2026. The Powerus Matrix Series is a U.S.-made line of modular first-person view platforms designed for rapid deployment across strike, ISR, and heavy-payload missions. Built with lightweight folding airframes for rucksack and vehicle transport, the systems can be configured in seconds around a common operational architecture. The MatrixFold platform is Blue UAS-compatible and NDAA-compliant. "The math of war has changed. A thousand-dollar drone can take out a multi-million-dollar target, and whoever can put a combat-ready first-person view in a soldier's hands at scale wins that exchange," said Andrew Valkenburg, Executive Vice President of Technology and Manufacturing at Powerus. "Our MatrixFold platform is built for that fight. It is a multipurpose, quick-to-deploy airframe built on the same Matrix architecture already in the hands of every U.S. Service. Our manufacturing posture was designed for the volumes Phase II calls for, and we are ready to deliver." "Phase II comes down to who shows up with a drone that serves soldiers on the ground through a supply chain the Pentagon can trust," said Brett Velicovich, Co-Founder of Powerus. "The MatrixFold platform reflects what end users have asked us for, manufactured in the U.S., trusted by U.S. military units, and ready for the missions ahead." This announcement follows Powerus' previously announced merger agreement with Aureus Greenway Holdings, Inc. (AGH), a transaction that, upon completion, is expected to result in Powerus becoming publicly traded on Nasdaq. Recently, AGH announced the change of its Nasdaq ticker symbol to PUSA. About Powerus Powerus is powering the future of autonomous drone defense. Autonomous Power Corporation (APC), doing business as Powerus, is a U.S.-based platform company that acquires, integrates, and scales domestically manufactured autonomous systems for defense, critical infrastructure, and precision agriculture. Founded by a team with direct operational experience in active conflict environments worldwide, Powerus brings together field-validated technologies under a unified operating architecture supported by U.S.-based manufacturing and allied-nation partnerships. Powerus has announced a proposed merger with Aureus Greenway Holdings Inc. (Nasdaq: PUSA). For more information, visit power.us . Merger Agreement Under the terms of a previously announced agreement, Powerus will merge with and into a newly formed subsidiary of AGH, with Powerus continuing as the surviving entity and AGH adopting the name "Powerus Corporation." The combined company expects to be listed on Nasdaq under the ticker symbol "PUSA." The merger transaction was unanimously approved by the boards of directors of both companies and a majority of each company's stockholders. The transaction remains subject to customary closing conditions, including the effectiveness of a registration statement on Form S-4 covering shares of common stock offered to Powerus stockholders and receipt of required regulatory approvals. The merger is expected to close in summer 2026. There can be no assurance that the proposed transactions will be consummated or as to the timing of any such consummation. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding Powerus' selection to compete in the Phase II Qualifier for the Department of Defense's Drone Dominance Program, the anticipated progression through subsequent phases of that program (including the production and delivery test and Gauntlet II events), the expected timing of such phases, the capabilities and certifications of the MatrixFold platform (including its Blue UAS compatibility and NDAA compliance), the anticipated scale of the Drone Dominance Program and associated purchasing activity, and the ability of Powerus to satisfy manufacturing, delivery, and performance requirements of the program are forward-looking statements. As to the announced merger agreement with AGH, these statements include, but are not limited to, statements regarding the proposed business combination and anticipated benefits thereof, including future financial and operating results, statements related to the expected timing of the completion of the transactions, the plans, objectives, expectations and intentions of either company or of the combined company following the merger, anticipated future results of either company or of the combined company following the merger, the anticipated benefits and strategic and financial rationale of the merger and other statements that are not historical facts. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “targets,” “scheduled,” “plans,” “intends,” “goal,” “anticipates,” “expects,” “believes,” “forecasts,” “outlook,” “estimates,” “potential,” or “continue” or negatives of such terms or other comparable terminology. The forward-looking statements are based on current expectations and assumptions believed to be reasonable, but there is no assurance that they will prove to be accurate. All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of AGH or Powerus to differ materially from any results expressed or implied by such forward-looking statements. As to Drone Dominance, these statements are subject to risks and uncertainties including, without limitation: (i) the risk that Powerus will not advance past the Phase II Qualifier or subsequent program phases; (ii) the risk that the Drone Dominance Program may be modified, reduced in scope, restructured, or cancelled, or that its funding may be reduced or reallocated, by the Department of Defense or by Congressional action; (iii) the risk that competing systems may be selected over the MatrixFold platform for Phase II advancement or final procurement; (iv) the risk that the MatrixFold platform may not satisfy performance, security, or supply chain requirements imposed by the program; (v) the risk that the platform's Blue UAS listing or NDAA-compliant status may not be maintained; (vi) the risk that Powerus' manufacturing capacity may be insufficient to meet program volume requirements; and (vii) the risk that the proposed merger with AGH may not close on the expected timeline or at all, which could materially affect Powerus' ability to finance the manufacturing and operational ramp required by the program. As to the announced merger agreement with AGH, such factors include, among others, (1) the risk of delays in consummating the potential transaction, including as a result of required shareholder and regulatory approvals, including Nasdaq listing requirements which may not be obtained on the expected timeline, or at all, (2) the risk of any event, change or other circumstance that could give rise to the termination of the merger agreement, (3) the possibility that any of the anticipated benefits and projected synergies of the potential transactions will not be realized or will not be realized within the expected time period, (4) the limited operational history of Powerus as a combined organization and integration risks of acquired businesses, (5) diversion of management’s attention or disruption to the parties’ businesses as a result of the announcement and pendency of the transaction, including potential distraction of management from current plans and operations of AGH or Powerus and the ability of AGH or Powerus to retain and hire key personnel, (6) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the transaction, (7) the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (8) the outcome of any legal or regulatory proceedings that may be instituted against AGH or Powerus related to the merger agreement or the transaction, (9) the risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transaction, (10) legislative, regulatory, political, market, economic and other conditions, developments and uncertainties affecting AGH’s or Powerus’s businesses; (11) the evolving legal, regulatory, tax, and international trade regimes; (12) the nature, cost and outcome of potential litigation and other legal proceedings, including any such proceedings related to the transactions, (13) restrictions during the pendency of the proposed transaction that may impact AGH’s or Powerus’s ability to pursue certain business opportunities or strategic transactions; and (14) unpredictability and severity of catastrophic events, including, but not limited to, extreme weather, natural disasters, acts of terrorism or outbreak of war or hostilities, as well as AGH’s and Powerus’s response to any of the aforementioned factors. Additional factors which could affect future results of AGH and Powerus can be found in AGH’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC’s website at http://www.sec.gov . Neither Powerus nor AGH undertakes any obligation to update forward-looking statements, except as required by law. NO OFFER OR SOLICITATION This document is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any 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 offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. IMPORTANT INFORMATION AND WHERE TO FIND IT In connection with the transaction, AGH will file a registration statement on Form S-4 with the SEC, which will include an information statement and preliminary prospectus of AGH. After the registration statement is declared effective, AGH will mail to its stockholders a definitive information statement. Additionally, AGH expects to file other relevant materials with the SEC in connection with the merger. Investors and security holders are urged to read the registration statement and joint information statement/prospectus when they become available (and any other documents filed with the SEC in connection with the transaction or incorporated by reference into the joint information statement/prospectus) because such documents will contain important information regarding the proposed transaction and related matters. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by AGH through the website maintained by the SEC at http://www.sec.gov or at AGH’s website at https://www.aureusgreenway.com/secfilings . WEBSITE LINKS Links to third-party websites are provided for convenience only. Powerus and AGH do not control, endorse, or accept responsibility for the content of any third-party website, including any content on the Department of Defense website linked herein. The inclusion of any link does not imply endorsement by any third party of Powerus, AGH, or the proposed merger transaction, or endorsement by Powerus or AGH of any third-party website or its content. Information contained on or accessible through any linked website does not form part of this press release. CONTACTS INVESTOR RELATIONS Jason Assad 678-570-6791 Press Contact: Maripat Finigan SVP, Strategic Comms pr@Power.us 860-508-3828
May 27, 2026
The Trump administration is pursuing funding deals with a group of drone companies as part of its effort to increase domestic production and lower the costs of the increasingly vital weapons, people familiar with the matter said. The potential deals follow months of discussions between a diverse set of private-sector drone companies and the Pentagon, the people said. The discussions have included the Office of Strategic Capital, a lending office set up by the Biden administration to fund companies deemed important to national security supply chains.
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