DevvStream Legacy Corp. has completed a business combination with XCF Global, Inc. and formally switched its legal domicile from Canada to Delaware. The company, previously known as DevvStream Corp. and incorporated in Alberta, Canada, filed a Form 8-K on October 14, 2026, announcing the completion of these transactions.
The business combination was executed in three steps. First, the company domesticated as DevvStream Legacy Corp., a Delaware corporation, on October 14, 2026. This was followed by the DevvStream Merger on October 16, 2026, and the Southern Merger on October 20, 2026. These steps resulted in the company becoming a direct wholly owned subsidiary of XCF Global.
Under the terms of the business combination agreement, all issued and outstanding common shares of DevvStream were converted into the right to receive 1.1919 shares of XCF Global Class A common stock per share. This resulted in the issuance of approximately 62.3 million XCF Global Common Shares, representing about 14.99% of the aggregate shares issued and outstanding immediately prior to the effective time. Following the mergers, former DevvStream shareholders held approximately 10.43% of the XCF Global Common Shares.
As a result of the transaction, the company’s common shares ceased to trade on the over-the-counter market under the symbol “DEVSF.” Instead, the XCF Global Common Shares received by former shareholders now trade on The Nasdaq Stock Market LLC under the symbol “SAFX.”
In connection with the closing, the prior board of directors of DevvStream resigned. Christopher Cooper and Wray Thorn were appointed as the new directors of the company. Additionally, Christopher Cooper became the Chief Executive Officer, and Wray Thorn became the President and Chief Financial Officer.
