XCF Global Seeks Stock Increase, Issuance for Business Combination

XCF Global, Inc. filed a preliminary proxy statement for a special meeting of stockholders to vote on proposals related to a business combination agreement with DevvStream Corp. and Southern Energy Renewables Inc. Key proposals include increasing the authorized Class A common stock from 500 million to 1.7 billion shares and approving the issuance of 19.99% or more of common stock as consideration for the combination. Stockholders will also vote on electing seven directors for the post-closing company and increasing shares reserved for the 2025 Equity Incentive Plan.