XCF Global, Inc. Files Form 8-K Reporting Acceleration of Loan and Ongoing Payment Defaults

Strategic Insights -

XCF Global, Inc., a Delaware-based company, filed a Form 8-K report with the U.S. Securities and Exchange Commission on August 29, 2025. The report discloses the acceleration of a loan and ongoing payment defaults related to the company's subsidiary, New Rise Renewables Reno, LLC. The subsidiary operates a sustainable aviation fuel production facility in Reno, Nevada, and has four notes payable outstanding with an aggregate principal amount of $112,580,000 to Greater Nevada Credit Union. The credit union notified New Rise Renewables Reno of additional events of default and failure to timely cure ongoing payment default, resulting in the acceleration of the full unpaid balances of the loan to $130,671,882.10.

The company is actively discussing with the credit union to resolve the issues and is evaluating financing alternatives to refinance the loan and payments related to the ground lease. However, there can be no assurance that the company will be able to reach an agreement or secure sufficient financing. The company also issued a cautionary note regarding forward-looking statements, which are inherently uncertain and subject to material change.

Key Takeaways:

  • XCF Global, Inc., filed a Form 8-K report on August 29, 2025, disclosing acceleration of loan and ongoing payment defaults related to its subsidiary New Rise Renewables Reno, LLC.
  • The loan has an aggregate principal amount of $112,580,000, and the credit union notified New Rise Renewables Reno of additional events of default and failure to timely cure ongoing payment default.
  • The credit union accelerated the full unpaid balances of the loan to $130,671,882.10.
  • The company is actively discussing with the credit union to resolve the issues and is evaluating financing alternatives to refinance the loan and payments related to the ground lease.
  • Naming Simon Oxley, Chief Financial Officer, as a key executive involved in the discussions.
  • The company's forward-looking statements caution that actual results could differ materially from the anticipated performance and financial impacts of the business combination and the New Rise acquisitions.

Statistics:

  • The aggregate principal amount of the loan is $112,580,000.
  • The credit union accelerated the full unpaid balances of the loan to $130,671,882.10.
  • The company received a notice of acceleration on August 6, 2025, and the notice was later withdrawn on August 27, 2025.
  • The company is seeking to refinance the loan and payments related to the ground lease.

Sources:

  • FORM 8-K (Current Report), filed by XCF Global, Inc. on August 29, 2025.
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549.
  • Greater Nevada Credit Union.
  • New Rise Renewables Reno, LLC.
  • SEC filings, including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025.