DevvStream signs definitive merger with XCF Global and Southern Energy; conditions include $1B revenue target

DevvStream Corp.

Three-way merger: DevvStream and Southern become wholly-owned subsidiaries of XCF; DevvStream shareholders receive XCF shares.
Closing requires XCF to achieve >$1B annualized revenue and $100M EBITDA by June 30, 2026.
Southern must secure Louisiana approval for at least $400M in bonds and engage an investment bank.
Support & lock-up agreements ensure shareholder approval from core holders of both DevvStream and XCF.
Termination fees: $510K payable by DevvStream to XCF (or by XCF to DevvStream and Southern) under certain conditions.

item 1.01 item 7.01 item 9.01

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