Updated Pro Forma Financials for Three-Way Merger Filed Ahead of September 10 Vote
SAFX has more than doubled off its 52-week low of $0.119.
Summary
XCF Global filed updated pro forma financials for its three-way merger with DevvStream and Southern Energy, detailing purchase price allocations, post-closing share counts, and combined financial statements ahead of the September 10 shareholder vote.
Key Events · M&A and Partnerships · SAFX
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Updated Pro Forma Financials Filed
Updated pro forma condensed combined financial information for the six months ended June 30, 2026 and year ended December 31, 2025 shows a pro forma net loss of $43.7 million and net income of $59.0 million, respectively.
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Purchase Price Allocations Disclosed
The Southern Energy acquisition is valued at $64.8 million (144,093,914 shares) and DevvStream at $27.8 million (61,754,534 shares), based on a $0.45/share closing price as of August 13, 2026.
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Post-Closing Share Structure
The combined entity will have 617,545,344 shares outstanding: XCF Global stockholders 66.67%, Southern Energy stockholders 23.33%, DevvStream stockholders 10.00%.
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Pro Forma Balance Sheet
As of June 30, 2026, pro forma total assets are $524.8 million and total stockholders' equity is $123.4 million, including $70.3 million in intangible assets and $29.7 million in goodwill.
Analysis · SAFX · Industrial Applications And Services
With the shareholder vote just nine days away, XCF Global has filed updated pro forma financials for its pending three-way merger with DevvStream and Southern Energy, offering the first detailed purchase price allocations and post-closing share structure. The filing values Southern Energy at $64.8 million (144.1 million shares) and DevvStream at $27.8 million (61.8 million shares), based on a $0.45 share price as of August 13, 2026. The pro forma balance sheet shows total assets of $524.8 million and stockholders' equity of $123.4 million. The combined entity would have 617.5 million shares outstanding, with XCF Global stockholders retaining 66.67% ownership. This comes against a backdrop of severe financial distress — the company's Q2 10-Q showed an 89% revenue collapse, a $238 million working capital deficit, and a going concern warning. The updated pro formas give shareholders concrete numbers to evaluate the merger's impact on their ownership and the combined company's financial position.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.1% of the 2014 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. 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 $0.38 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $156.2M. The 52-week trading range was $0.12 to $1.55. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.