Mergers & Acquisitions ·
XCF completes acquisition of DevvStream Legacy and Southern Energy in business combination
DEVSFDevvStream Legacy Corp.
XCF Global, Inc. completed its acquisition of DevvStream Legacy Corp. (formerly DevvStream Corp.) and Southern Energy Renewables Inc. on October 16, 2026, pursuant to a Business Combination Agreement dated April 13, 2026. Former DevvStream shareholders received approximately 62.3 million XCF Global Common Shares, representing roughly 14.99% of the pre-combination outstanding shares and about 10.43% post-combination. Southern Energy shareholders received approximately 119.4 million shares, equal to 28.75% of the pre-combination total and 20% post-combination. Following the transaction, XCF had approximately 596 million shares outstanding. DevvStream Legacy became a wholly owned subsidiary of XCF, its common shares ceased trading on the OTC market, and new directors Christopher Cooper and Wray Thorn were appointed to lead the entity.