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- Related Party (new) — The debt settlement involves a company 100% owned by XCF's majority shareholder, creating potential conflicts of interest in pricing and terms.
XCF Global settles $16.7M debt with majority shareholder's company via 37M share issuance
Filed May 12, 2026 · Period ending May 6, 2026 · ~1 min read
Key Changes
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Company issued 37 million shares at $0.451/share to settle $16.7M debt owed to Encore DEC, an EPC contractor wholly owned by majority shareholder Randy Soule. This eliminates a major liability but dilutes existing shareholders by roughly 30%.
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After the transaction, Randy Soule will beneficially own approximately 30.56% of outstanding Class A common stock, consolidating control with the company's majority shareholder through this related-party debt conversion.
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The debt stemmed from construction and sustainable aviation fuel conversion services provided by Encore to the company's New Rise Reno subsidiary, representing unpaid contractor obligations now converted to equity.
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Source-verified from EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify