XCF Global Capital, Inc.: debt financing — XCF reports defaults on $112.6M loan and ground lease; CEO resigns, business combo extended to June 30

XCF Global Capital, Inc.

New Rise Reno in default on $112.6M GNCU loan; $19.3M needed to cure, plus $2.1M penalties.
Twain ground lease defaults total $18.5M ($13.3M lease payments + $5.6M penalties).
CEO Randall Soule resigned May 30; CFO James B. Smith also resigned; interim CEO appointed.
Business combination with Focus Impact BH3 extended to June 30, 2025; ELOC up to $50M.
New debt agreements ~$4.4M total: GL ($1.2M+$2.5M), Innovativ $0.5M, Narrow Road $0.7M, Cribb $0.25M, Helena $2.0M.

item 1.01 item 2.03 item 2.04 item 3.02 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Jonathan Seeley

Vice President, Treasurer

XCF Global Capital, Inc.

Filed: June 2, 2025, 7:59 PM ET

On February 14, 2025, Jonathan Seeley joined the Company as its Vice President, FP&A and Treasury and was appointed Vice President, Treasurer in April 2025.

Appointed

Pamela M. Abowd

Chief Accounting Officer

XCF Global Capital, Inc.

Effective: 2025-04-16
Filed: June 2, 2025, 7:59 PM ET

On April 16, 2025, the Company appointed Pamela M. Abowd as its Chief Accounting Officer.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XCF Global Capital, Inc. reported a default on loan of $112,580,000 with Greater Nevada Credit Union.

Instrument: loan
Principal: $112,580,000
Counterparty: Greater Nevada Credit Union
Event: default

Exact text from the filing

operates our existing sustainable aviation fuel (“SAF”) production facility in Reno, Nevada. New Rise Reno has four notes payable outstanding, in aggregate principal amount of $112,580,000, to Greater Nevada Credit Union (“GNCU”), as the successor to Jefferson Financial Federal Credit Union (the “GNCU Loan”). The GNCU Loan was underwritten by certain guarantees

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Jonathan Seeley was appointed as Vice President, Treasurer at XCF Global Capital, Inc..

Action: appointed
Role: Vice President, Treasurer

Exact text from the filing

On February 14, 2025, Jonathan Seeley joined the Company as its Vice President, FP&A and Treasury and was appointed Vice President, Treasurer in April 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Pamela M. Abowd was appointed as Chief Accounting Officer at XCF Global Capital, Inc..

Action: appointed
Role: Chief Accounting Officer

Exact text from the filing

On April 16, 2025, the Company appointed Pamela M. Abowd as its Chief Accounting Officer.

View on SEC.gov

73 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001140361-25-021159

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