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XCF Global Capital, Inc. has entered into several promissory notes and made executive changes, as reported in a recent SEC filing. The company, based in Nevada, has engaged in financial agreements with multiple entities, including GL SPV Part I LLC, Innovativ Media Group, Inc., Narrow Road Capital, Ltd., and Gregory Segars Cribb. These notes, totaling millions, are tied to specific financial conditions and events, such as the completion of a Qualified Financing Event.
Additionally, XCF has amended its Business Combination Agreement with Focus Impact BH3 Acquisition Company, extending the termination date to June 30, 2025. The company also entered into an equity line of credit agreement with Helena Global Investment Opportunities I Ltd, allowing for the issuance of up to $50 million in stock.
In executive changes, Pamela M. Abowd has been appointed Chief Accounting Officer, while Jonathan Seeley has taken on the role of Vice President, Treasurer. Both executives bring extensive experience from previous positions in the energy sector.
The filing also notes that XCF’s production facility in Reno, Nevada, has been converted to produce sustainable aviation fuel (SAF) and renewable diesel. However, the company is addressing financial challenges related to outstanding loans and lease payments associated with the facility.
This information is based on a press release statement filed with the SEC.
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