GL Part SPV II Discloses $99M Warrant Facility and 6.7% Stake in XCF Global
SAFX has more than doubled off its 52-week low of $0.119.
Summary
GL Part SPV II disclosed a warrant purchase agreement allowing up to $99M in additional warrant purchases through year-end, with an initial 6.89M-share warrant acquired for $1M at a $2.50 strike price.
Key Events · Ownership and Investor Activity · SAFX
-
Initial Warrant Acquired
GL Part SPV II acquired a warrant to purchase 6,891,798 shares of Series A Common Stock at $2.50 per share for $1,000,000 on September 14, 2026.
-
$99M Additional Warrant Facility
The Warrant Purchase Agreement gives GL II the right to purchase up to $99,000,000 of additional warrants through December 31, 2026, with pricing determined by a Black-Scholes formula subject to a $0.10 per share floor and a 50,000,000 share cap.
-
Existing 6.7% Ownership Stake
GL II beneficially owns 27,479,983 shares (6.7% of the class), including 20,588,185 shares acquired June 6, 2025 via the Business Combination Agreement.
-
Deep Out-of-the-Money Exercise Price
The $2.50 exercise price is approximately 5.9x the current stock price of $0.4267, meaning the warrants have no intrinsic value today.
Analysis · SAFX · Industrial Applications And Services
GL Part SPV II, LLC, an affiliate of Majique Ladnier who controls a 36.2% stake, has disclosed a warrant purchase agreement giving it the right to buy up to $99 million of additional warrants through December 31, 2026. The initial warrant covers 6,891,798 shares at a $2.50 exercise price, acquired for $1 million on September 14, 2026. The exercise price is nearly 6x the current stock price of $0.4267, meaning the warrants are deeply out-of-the-money today. However, the agreement includes a Black-Scholes pricing formula for future warrant purchases with a $0.10 floor, and the investor already holds 27,479,983 shares (6.7% of the class). Against the backdrop of XCF's 89% revenue collapse, $238 million working capital deficit, and going concern warning, this facility represents a potential lifeline — but one that could bring massive dilution if exercised.
How filings like this one have moved
In the 30 days to Sep 17, 2026, 35.7% of the 1179 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.44%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SAFX was trading at $0.43 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $174.5M. The 52-week trading range was $0.12 to $1.47. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.