Focus Impact BH3 Acquisition Extends Business Combo Deadline and Reports Loan Defaults

Focus Impact BH3 Acquisition Co

Amendment No. 3 to Business Combination Agreement extends termination date from May 31 to June 30, 2025.
XCF issued $1.2M February 2025 Promissory Note (net $1.0M) and $2.5M April 2025 Promissory Note to GL SPV, with share issuances.
NewCo entered $50M equity line of credit with Helena Global Investment Opportunities I Ltd, effective upon business combination.
GNCU loan default: New Rise Reno owes ~$19.3M past due as of May 15, 2025 on $112.58M USDA-guaranteed loan.
Twain Ground Lease default: New Rise Reno owes $18.5M (lease payments $13.3M, late fees $5.6M) as of May 15, 2025.

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