Mergers & Acquisitions ·
DevvStream Corp. filed a current report announcing Amendment No. 1 to its Business Combination Agreement with XCF…
DEVSDevvStream Corp.
DevvStream Corp. filed a current report announcing Amendment No. 1 to its Business Combination Agreement with XCF Global, Inc. and Southern Energy Renewables Inc., dated September 14, 2026. The amendment adjusts pro forma ownership percentages: former DevvStream shareholders will hold approximately 10.43% of the combined entity (increased from 10.0%), while former Southern Energy shareholders will hold approximately 20% (reduced from 23.3%). XCF Global existing stockholders will retain approximately 69.57%. The amendment deletes several closing conditions, including minimum capitalization, investment bank engagement, revenue run-rate thresholds of $1 billion gross and $100 million EBITDA, Nasdaq Sweden listing approval, and HSR Act clearance. It also introduces a $1,000,000 investment by GL PART SPV I LLC through XCF Global’s warrant program at an exercise price of $2.50 per share. Post-closing funding commitments require EEME and GL to contribute not less than $4,373,000 within three months and up to $50,000,000 within twelve months. The DevvStream Special Meeting was postponed from September 10 to September 17, 2026, with a record date of July 29, 2026. DevvStream Corp. operates in the energy and renewable technology sector.