Focus Impact BH3 Acquisition Company (BHAC)

Focus Impact BH3 Acquisition Company began life as Crixus BH3 Acquisition Company, a blank-check company sponsored by an affiliate of BH3, a South Florida real estate investment firm. It completed its initial public offering on October 7, 2021, selling 23 million units and placing about $232 million in trust. The units, Class A shares and warrants were listed on the Nasdaq Capital Market, with the shares trading as BHAC. Its original plan was to pursue a target in real estate or related industries.

After two years without a deal, the sponsor sold its stake in the fall of 2023 to an affiliate of Focus Impact Partners, and the company changed its name to Focus Impact BH3 Acquisition Company. Shareholders approved deadline extensions, and heavy redemptions shrank the trust well below its original size. In late 2023 the company signed a letter of intent with XCF Global Capital, and a definitive business combination agreement followed in March 2024.

Because it had passed the Nasdaq limit on how long a SPAC can remain listed without completing a deal, Nasdaq suspended trading in the company's securities at the open on October 14, 2024, and they moved to the OTC Pink market. The XCF transaction continued, with the registration statement declared effective in February 2025 and shareholders voting to approve it later that month.

The merger closed on June 6, 2025, creating XCF Global, Inc., a company focused on producing sustainable aviation fuel through its New Rise Renewables subsidiaries. XCF Global's common stock and warrants were listed on Nasdaq as SAFX and SAFXW. The BHAC symbol was retired with the closing.