SCHEDULE: Cantor Fitzgerald Group Boosts XBP Global Holdings Stake

Cantor Fitzgerald entities, including CFAC Holdings VIII and Cantor Fitzgerald & Co., have increased their beneficial ownership in XBP Global Holdings, Inc. to 6.8%.

Summary

• This is Amendment No. 5 to the Schedule 13D filing for XBP Global Holdings, Inc.
• The reporting group, including CFAC Holdings VIII, LLC, Cantor Fitzgerald & Co., Cantor Fitzgerald, L.P., CF Group Management, Inc., and Brandon G. Lutnick, collectively beneficially own 8,049,404 shares of XBP Global Holdings Common Stock.
• This represents approximately 6.8% of the 117,515,972 shares outstanding as of August 14, 2025.
• CFAC Holdings VIII, LLC directly owns 6,064,404 shares and 385,000 shares underlying warrants, totaling 6,449,404 shares (5.5%).
• Cantor Fitzgerald & Co. directly owns 1,600,000 shares (1.4%).
• From August to October 2025, Cantor Fitzgerald & Co. purchased 1,752,626 shares and sold 152,626 shares in September 2025, resulting in a net direct ownership of 1,600,000 shares.
• The shares were acquired for investment purposes, not with a view to influencing or controlling the Issuer.

Sentiment

Score: 6

Explanation: Slightly positive due to a prominent financial institution group increasing its net stake in the company, indicating a degree of confidence in the investment.

Positives

• A significant financial institution group (Cantor Fitzgerald) has increased its net beneficial ownership in XBP Global Holdings, indicating potential confidence.
• Cantor Fitzgerald & Co. made net purchases of XBP Global Holdings common stock between August and October 2025.

Risks

• The Reporting Persons may, at any time, review or reconsider their positions with respect to the Issuer.
• The Reporting Persons reserve the right to develop plans or proposals related to the Issuer.

Future Outlook

The Reporting Persons may continue to buy and sell shares of Common Stock based on market conditions as they determine. They do not currently have plans to influence or control the Issuer but reserve the right to review or reconsider their positions and develop such plans.

Industry Context

This filing primarily concerns changes in beneficial ownership by a financial institution group. It does not provide specific industry context or analysis related to XBP Global Holdings' business activities or broader industry trends.

Corporate Governance

Legal Proceedings

• Cantor Fitzgerald & Co. has not been convicted in a criminal proceeding (excluding traffic violations) or been party to a civil proceeding resulting in a judgment, decree, or final order related to federal or state securities laws in the last five years.

Related Party Transactions

• The transactions involve entities within the Cantor Fitzgerald group (CFAC, CF&Co., Cantor, CFGM) and Brandon G. Lutnick, who are related parties acting as a group to report their beneficial ownership.

Stakeholder Impact

• Shareholders: Increased institutional ownership by a prominent financial group could be viewed positively, potentially signaling confidence in the company.
• Management: The filing explicitly states the Reporting Persons do not intend to influence or control the Issuer, which may reduce immediate pressure on XBP Global Holdings' management.

Next Steps

• The Reporting Persons may continue to buy and sell shares of Common Stock.
• The Reporting Persons may review or reconsider their positions with respect to XBP Global Holdings.
• The Reporting Persons reserve the right to develop plans or proposals concerning XBP Global Holdings.

Key Dates

Keywords

XBP Global Holdings, Cantor Fitzgerald, Schedule 13D, Beneficial Ownership, Common Stock, Institutional Investment, Shareholder Stake, Equity Holdings