---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-021159"
form_type: "8-K"
ticker: null
cik: "0002035156"
company_name: "XCF Global Capital, Inc."
filed_at: "2025-06-02T23:59:59+00:00"
generated_at: "2026-05-20T03:25:38.906294+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# XCF reports defaults on $112.6M loan and ground lease; CEO resigns, business combo extended to June 30

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-25-021159
- form_type: 8-K
- cik: 0002035156
- company_name: XCF Global Capital, Inc.
- filed_at: 2025-06-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 2.04, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2035156/000114036125021159/0001140361-25-021159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2035156/000114036125021159/ef20049660_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-021159
- JSON: https://secwatch.observer/filing/0001140361-25-021159.json
- Plain text: https://secwatch.observer/filing/0001140361-25-021159.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/2035156/000114036125021159/0001140361-25-021159-index.htm
- Executive change
  Jonathan Seeley was appointed as Vice President, Treasurer at XCF Global Capital, Inc..
  - Action: appointed
  - Role: Vice President, Treasurer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2035156/000114036125021159/0001140361-25-021159-index.htm
- Executive change
  Pamela M. Abowd was appointed as Chief Accounting Officer at XCF Global Capital, Inc..
  - Action: appointed
  - Role: Chief Accounting Officer
  source text: On April 16, 2025, the Company appointed Pamela M. Abowd as its Chief Accounting Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2035156/000114036125021159/0001140361-25-021159-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.