XCF Global And DevvStream Announce Receipt of $10M From Private Placement Of 100M SAFX Shares To Support The Planned Plant Conversion At XCF's New Rise Renewables Reno Facility

The receipt of this funding satisfies a key funding‑related condition to the proposed business combination among XCF, Southern, and DevvStream. The receipt of this funding represents an important milestone in advancing the transaction and is expected to support continued progress toward satisfying the closing conditions set forth in the previously announced Business Combination Agreement.

As previously disclosed, consummation of the proposed transaction remains subject to the satisfaction or waiver of various closing conditions, including shareholder approvals. SEC registration statements effectiveness on Form S-4, stock exchange approvals including Nasdaq listing, completion of financing, plant conversion, and commercial milestones and fairness opinions. XCF Global, Southern, and DevvStream remain focused on advancing the remaining workstreams associated with the transaction and intend to provide updates as appropriate.