Monitor for closing conditions and regulatory approvals for the proposed business combination. The pro forma financials indicate significant operating losses in H1 2026, but the transaction may alter the business profile. Watch for any amendments to the S-4 or material changes in deal terms.
Price Chart
Executive Summary
XCF Global filed updated pro forma financials for its proposed acquisition of Southern Energy and DevvStream. The pro forma shows a combined net loss of $43.7M for H1 2026 and net income of $59.0M for FY2025, with post-transaction ownership split 66.67% to existing XCF holders, 23.33% to Southern Energy holders, and 10% to DevvStream holders. This is a routine update to previously disclosed transaction financials with no new material event.
Key Facts
- Updated pro forma financials for proposed acquisition of Southern Energy (asset acquisition) and DevvStream (business combination)
- Pro forma net income of $59,043,941 for FY2025 and net loss of $43,714,972 for H1 2026
- Post-transaction ownership: XCF Global 66.67%, Southern Energy 23.33%, DevvStream 10.00%
- Consideration: 144,093,914 shares ($64,842,261) for Southern Energy; 61,754,534 shares ($27,789,540) for DevvStream
- Pro forma total assets $524.8M, total liabilities $401.4M, stockholders' equity $123.4M
Financial Impact
No immediate financial impact; pro forma shows combined net loss of $43.7M for H1 2026 and net income of $59.0M for FY2025, but these are illustrative and subject to change upon closing
Risk Factors
- Transaction may not close or may be delayed
- Integration risks combining three entities with different accounting treatments
- Dilution for existing XCF Global shareholders (retain 66.67% post-transaction)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-041052 |
| Document: form8-k.htm | 0001493152-26-041052 |
| Document: 0001493152-26-041052-index-headers.html | 0001493152-26-041052 |
| Document: 0001493152-26-041052-index.html | 0001493152-26-041052 |
| Document: 0001493152-26-041052.txt | 0001493152-26-041052 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | SC 13D/A | — | awaiting T+60 | — | — |
Oct 26, 2026 today | DEF 14A | $0.1567 | awaiting T+60 | — | $0.1590 (−1.47%) |
Oct 26, 2026 today | 3 | $0.1550 | awaiting T+60 | — | $0.1590 (+2.58%) |
Oct 26, 2026 today | 3 | $0.1479 | awaiting T+60 | — | $0.1590 (+7.51%) |
Oct 23, 2026 3d ago | 8-K | $0.1560 | awaiting T+60 | — | $0.1590 (+1.92%) |
Oct 22, 2026 4d ago | 8-K | $0.1594 | awaiting T+60 | — | $0.1590 (−0.25%) |
Oct 16, 2026 10d ago | SC 13D/A | $0.1565 | awaiting T+60 | — | $0.1590 (+1.60%) |
Sep 24, 2026 4w ago | 425 | $0.3731 | awaiting T+60 | — | $0.1590 (+57.38%) |
Sep 23, 2026 4w ago | EFFECT | $0.4253 | awaiting T+60 | — | $0.1590 (+62.61%) |
Sep 22, 2026 4w ago | EFFECT | $0.4586 | awaiting T+60 | — | $0.1590 (+65.33%) |
US Market Status
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