XCF Global Withdraws Proposed Reverse Stock Split as Nasdaq Compliance Deadline Approaches
XCF Global has withdrawn its proposed reverse stock split and related proxy solicitation, redirecting attention to fuel production, commercial relationships and its Nasdaq compliance requirements.
XCF Global, Inc. (NASDAQ:SAFX) will not proceed with its proposed reverse stock split or the associated proxy solicitation, the company announced on November 2, 2026. The Board of Directors said it reached the decision after reviewing shareholder feedback and the company’s operating priorities.
The withdrawal does not resolve XCF Global’s noncompliance with Nasdaq’s minimum bid price requirement. The company has until December 7, 2026, to regain compliance, and said failure to do so is expected to result in delisting.
XCF Global said it will focus its resources on increasing fuel production and shipments, developing customer relationships, improving financial performance and pursuing additional production capacity.
Chief Executive Officer Chris Cooper said the company’s priorities include producing and selling more fuel, strengthening commercial relationships and converting its expanded business platform into improved operating and financial performance.
Director, President and Chief Financial Officer Wray Thorn said the company’s focus remains on measurable operational progress and communicating developments to shareholders.
The company said it is working to complete and integrate the recently announced acquisition of a renewable fuel production facility in Paramount, California. XCF Global said the facility would add ~50 million annual gallons of renewable fuel production capacity, as well as blending, storage and distribution capabilities in Southern California.
The planned site is located near Los Angeles International Airport and Long Beach Airport. XCF Global’s existing New Rise Renewables Reno facility produces renewable diesel and has a permitted nameplate production capacity of up to 40 million gallons per year.
XCF Global said its recent combinations with DevvStream and Southern Energy Renewables have broadened its platform across renewable fuel production, carbon management and environmental assets. The company also described potential expansion opportunities in Nevada, North Carolina and Florida.
EEME Energy SPV I LLC, identified by XCF Global as its largest shareholder, said it supports the decision to abandon the reverse stock split proposal. EEME also said it remains committed to supporting the company’s management and long-term growth through its equity commitment, lock-up alignment and strategic capitalisation initiatives.
EEME referred to the company’s operating milestones, commercial production, binding offtake commitments and planned facility integration when discussing its view of XCF Global’s future operating goals. Those statements are forward-looking and remain subject to risks described by the company.
XCF Global said it cannot assure that it will regain compliance with Nasdaq’s minimum bid price requirement by the applicable deadline. The company said a failure to regain compliance is expected to lead to delisting.
According to XCF Global, delisting could negatively affect trading liquidity, investors’ ability to buy or sell the company’s shares and access to capital.
The company also identified risks involving financing, regulatory requirements, the integration of DevvStream and Southern Energy Renewables, continued facility operations, disputes involving the New Rise Reno facility’s landlord and primary lender, and the completion and integration of the Paramount acquisition. XCF Global said forward-looking statements are subject to additional business, financial, legal and operational uncertainties.
XCF Global will not proceed with its proposed reverse stock split or related proxy solicitation.
The company plans to prioritise fuel production, shipments, customer relationships, financial performance and capacity expansion.
The proposed Paramount, California facility acquisition remains incomplete and would add ~50 million annual gallons of renewable fuel production capacity.
XCF Global has until December 7, 2026, to regain compliance with Nasdaq’s minimum bid price requirement.
The company said failure to regain compliance is expected to result in delisting, which could affect liquidity, share trading and access to capital.
XCF Global announced on November 2, 2026 that its Board of Directors had decided not to proceed with the proposed reverse stock split and would discontinue the related proxy solicitation. The Board said it made the decision after considering shareholder feedback and the Company’s strategic priorities.
XCF Global said the Board’s decision followed shareholder feedback and a focus on directing resources towards business execution, financial results and long-term value creation. The Company said it would instead focus on its operating and commercial priorities.
XCF Global said its priorities are to increase fuel production and shipments, expand customer relationships, strengthen financial performance and advance opportunities to grow production capacity. Chief Executive Officer Chris Cooper also said the Company’s focus was to produce and sell more fuel, deepen customer relationships and translate its expanded platform into stronger operating and financial performance.
XCF Global is a U.S.-based producer of renewable diesel and sustainable aviation fuel. The Company describes itself as a renewable energy company focused on the production and deployment of lower-carbon fuels and environmental solutions, with a broader platform spanning renewable fuels, carbon management and environmental assets.
XCF Global’s flagship New Rise Renewables Reno facility produces renewable diesel and has a permitted nameplate production capacity of up to 40 million gallons per year. The Company is also seeking to complete the acquisition of a recently announced Paramount, California renewable fuel production facility, which it says would add ~50 million annual gallons of renewable fuel production capacity, along with blending, storage and distribution capabilities.
XCF Global said it is focused on completing and integrating the recently announced acquisition of the Paramount, California facility. The Company also said it is seeking to complete the acquisition, so the source does not present it as completed.
XCF Global said its recent combinations with DevvStream and Southern Energy Renewables broadened its platform across current and future technology pathways for renewable fuel production and environmental-asset monetisation. The Company linked this platform to reduced carbon emissions from transportation, domestic energy resilience and security, and alternative uses for agricultural waste products.
XCF Global’s largest shareholder, EEME Energy SPV I LLC, said it fully supports the Company’s decision not to proceed with the reverse stock split. EEME said it remains committed to supporting XCF Global’s management and long-term growth through its long-term equity commitment, lock-up alignment and ongoing strategic capitalisation initiatives.
XCF Global is listed on the Nasdaq Capital Market and trades under the symbol SAFX.
XCF Global said it has until December 7, 2026, to regain compliance with Nasdaq’s minimum bid price requirement. The Company stated that withdrawing the reverse stock split proposal does not resolve its noncompliance.
XCF Global said there can be no assurance that it will regain compliance within the applicable period and that failure to do so is expected to result in delisting. The Company said delisting could adversely affect trading liquidity, investors’ ability to buy or sell its shares and access to capital.
Chief Executive Officer Chris Cooper said XCF Global sees substantial opportunity through the continued development of its alternative fuels business, while Director, President and Chief Financial Officer Wray Thorn said the focus remains on delivering measurable progress and updating shareholders as commercial and operational priorities advance. These statements are forward-looking and subject to risks including Nasdaq compliance, financing, facility operations, integration, regulation and the Company’s ability to complete and integrate the Paramount, California acquisition.