XCF Global Withdraws Reverse Stock Split Proposal; Reaffirms Growth Strategy and Shareholder Support
Key Highlights
- ➤XCF withdraws reverse stock split proposal after shareholder feedback.
- ➤Nasdaq compliance deadline is December 7, 2026; failure expected to result in delisting.
- ➤Paramount acquisition would add ~50 million annual gallons of renewable fuel capacity.
- ➤XCF prioritizes fuel production, shipments, customer expansion, and financial performance.
- ➤EEME Energy SPV fully supports withdrawal and maintains long-term commitment to XCF.
Expert Statements
Chris Cooper, Chief Executive Officer of XCF Global
“We see substantial opportunity to build value through the continued development of our alternative fuels business. Our priorities are clear: produce and sell more fuel, deepen customer relationships and translate our expanded platform into stronger operating and financial performance. Following discussions with our largest shareholder, we are moving forward with a shared focus on XCF's long-term potential.”
EEME Energy SPV I LLC, XCF Global's largest shareholder
“We fully support the company's decision not to proceed with the reverse stock split and have unwavering conviction in the company's operational trajectory, expanding alternative fuels asset footprint, and long-term intrinsic value. When evaluating XCF's operational milestones and projected financial performance, supported by sustained commercial production, binding off-take commitments, strategic facility integration, and substantial revenue scaling, EEME believes that executing against 2027 and longer-term operating goals will strengthen the company's financial performance and drive listing compliance, market re-rating, and robust equity appreciation. With its substantial long-term equity commitment, lock-up alignment, and ongoing strategic capitalization initiatives, EEME remains committed to supporting the company's management and long-term growth.”
Wray Thorn, Director, President and Chief Financial Officer of XCF Global
“We believe sustained execution is the foundation of lasting shareholder value. Our focus remains on delivering measurable progress, and we look forward to updating shareholders as we advance our commercial and operational priorities.”
HOUSTON, TX / ACCESS Newswire / November 2, 2026 / XCF Global, Inc. (NASDAQ:SAFX) ("XCF" or the "Company"), a U.S.-based producer of renewable diesel and sustainable aviation fuel, today announced that its Board of Directors has decided not to proceed with the proposed reverse stock split and to discontinue the related proxy solicitation. The Board reached this decision after considering shareholder feedback and the Company's strategic priorities, with a focus on directing resources toward business execution, financial results, and long-term value creation.
"We see substantial opportunity to build value through the continued development of our alternative fuels business," said Chris Cooper, XCF Global Chief Executive Officer. "Our priorities are clear: produce and sell more fuel, deepen customer relationships and translate our expanded platform into stronger operating and financial performance. Following discussions with our largest shareholder, we are moving forward with a shared focus on XCF's long-term potential."
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