Mergers & Acquisitions ·
XCF Global, Inc., DevvStream Corp., and Southern Energy Renewables Inc. entered into Amendment No. 1 to their Business…
SAFXXCF Global, Inc.
XCF Global, Inc., DevvStream Corp., and Southern Energy Renewables Inc. entered into Amendment No. 1 to their Business Combination Agreement on September 14, 2026. The amendment adjusts merger consideration so former Southern Energy shareholders will hold approximately 20% of the combined entity (down from 23.3%), while DevvStream shareholders will hold approximately 10.43% (up from 10.0%). Existing XCF Global 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 and $100 million EBITDA, Nasdaq Sweden listing approval, and HSR Act clearance. Closing is conditioned on a concurrent $1,000,000 investment by GL PART SPV I LLC via the company's warrant program at $2.50 per share. Post-closing, EEME and GL commit to funding at least $4,373,000 within three months and up to $50,000,000 within twelve months. The special meeting of stockholders was postponed from September 10 to September 24, 2026, to allow review of the amendment. XCF Global operates in the renewable energy sector, focusing on blended fuel products and plant conversion technologies.