DevvStream, XCF Global, and Southern Energy Renewables have issued a statement clarifying recent media coverage that misrepresented a Form 8-K filing. The filing detailed the companies' business combination agreement, which involves DevvStream, XCF, and Southern. The statement confirms that the business combination agreement remains in full force and effect, and the parties continue to work towards completing the proposed combination. The Form S-4 registration statement is expected to be filed in the coming weeks, a crucial step towards SEC effectiveness and required shareholder approvals. The companies emphasize that the termination of the Prior Merger Agreement was a mechanical contractual step, not a decision to withdraw from the combination. The statement also highlights the importance of the Proxy Statements/Prospectus, which will provide important information about the transaction to investors and security holders. The companies urge investors to read the documents carefully and not to make any voting or investment decisions until the Proxy Statements/Prospectus are available. The statement concludes by noting that the business combination agreement is binding but does not guarantee the consummation of the transaction, and there are numerous risks and uncertainties that could impact the outcome.
