Post Content
XCF Global, Inc. (NASDAQ:SAFX) is one of the best renewable energy penny stocks to buy.
On March 10, 2026, the company said it had received stockholder approval at its March 6 special meeting to remove the share cap that had limited the number of shares EEME could buy under an existing term sheet. That approval allows EEME to purchase the remaining shares it had committed to acquire as part of XCF’s ongoing capital raise.
XCF said EEME had already bought 38,000,000 common shares for $3,800,000 before the update. The company expects EEME to buy the remaining 62,000,000 shares for a total investment of $6,200,000, split into two equal tranches, subject to closing conditions. XCF also said the first merger closing is expected in March 2026, with the second targeted by March 31, 2026, if those conditions are met.
Jirat Teparaksa/Shutterstock.com
The company added that, after the second closing, the combined business is expected to retain the XCF Global name and Nasdaq ticker symbol SAFX. It also said DevvStream shareholders would receive contingent value rights tied to 20% of the net proceeds from certain legacy DevvStream commercial claims.
XCF Global, Inc. (NASDAQ: SAFX) is a sustainable aviation fuel company focused on helping decarbonize air travel. Its New Rise Renewables Reno facility is operational and has permitted nameplate production capacity of 38 million gallons per year.
While we acknowledge the potential of SAFX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years
Disclosure: None. Follow Insider Monkey on Google News.