secwatch.observer — SEC 8-K summary
======================================

Issuer:     XCF Global, Inc. (SAFX)
CIK:        0002019793
Form:       8-K
Filed at:   2026-10-22T21:08:11+00:00
Accession:  0001213900-26-111746
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 5.02, 2.01, 3.03, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

XCF Global closes Southern Energy/DevvStream combination; 2027 outlook $650-700M gross product sales, $70-75M EBITDA
--------------------------------------------------------------------------------

- Business Combination closed Oct 16, 2026: DevvStream holders got 1.1919 XCF shares each (62,253,004 shares); Southern Energy holders got 119,397,857 shares; ~596M shares outstanding.
- Updated 2027 outlook: gross product sales of $650-700M, net revenue of $120-130M and EBITDA of $70-75M.
- Wray T. Thorn named President and CFO effective Oct 19, 2026, replacing Harvey Schnitzer, who becomes Director of Integration; Thorn paid $750,000 salary plus 3% fully diluted restricted stock.
- Board set at seven: XCF's Cooper, Thorn, Cockrell and Kim; Southern's Langley and Wharton; DevvStream's Stanton. Cooper named Chairman, salary raised to $750,000 from $500,000.
- Focus Impact Partners consulting agreement ($1.5M annual fee) terminated Oct 19; $456,164 accrued fees paid; 2025 Plan share reserve raised to 80,000,000 from 14,557,181.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2019793/000121390026111746/0001213900-26-111746-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2019793/000121390026111746/ea0309265-8k_xcfglobal.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-111746

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer