Focus Impact Acquisition Corp. Files 8-K on Unit Structure
Ticker: DEVS · Form: 8-K · Filed: Sep 10, 2024 · CIK: 1854480
Sentiment: neutral
Topics: spac, unit-structure, warrants
TL;DR
FIAC units = Class A stock + half a warrant, $11.50 strike price on warrants.
AI Summary
Focus Impact Acquisition Corp. filed an 8-K on September 10, 2024, to report on a Regulation FD disclosure. The filing details the company's structure, including units consisting of Class A common stock and redeemable warrants, with each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50.
Why It Matters
This filing clarifies the components of Focus Impact Acquisition Corp.'s units, which include common stock and warrants, providing essential details for investors regarding their potential holdings and rights.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate structure and does not indicate any immediate financial distress or significant operational changes.
Key Numbers
- $11.50 — Warrant Exercise Price (The price at which holders can exercise their warrants to purchase Class A common stock.)
Key Players & Entities
- Focus Impact Acquisition Corp. (company) — Registrant
- September 10, 2024 (date) — Date of earliest event reported
- Class A common stock (security) — Component of units
- Redeemable warrants (security) — Component of units
- $11.50 (dollar_amount) — Exercise price of warrants
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to provide a Regulation FD disclosure and report on the structure of the company's units, which include common stock and warrants.
What are the components of the units offered by Focus Impact Acquisition Corp.?
The units consist of one share of Class A common stock and one-half of one redeemable warrant.
What is the exercise price for the redeemable warrants?
The exercise price for each whole warrant is $11.50.
When was the earliest event reported in this filing?
The earliest event reported in this filing was on September 10, 2024.
What is the principal executive office address for Focus Impact Acquisition Corp.?
The principal executive offices are located at 250 Park Avenue Ste 911, New York, NY 10177.
Filing Stats: 2,735 words · 11 min read · ~9 pages · Grade level 18.4 · Accepted 2024-09-10 15:17:58
Key Financial Figures
- $0.0001 — g of one share of Class A common stock, $0.0001 par value, and one-half of one redeemab
- $11.50 — A common stock at an exercise price of $11.50 FIACW The Nasdaq Stock Market LLC
- $1,500,000 — 2023, in the total principal amount of $1,500,000, issued by the Company to the Sponsor,
- $1,345,000 — 2023, in the total principal amount of $1,345,000, issued by the Company to the Sponsor,
- $330,000 — ed by the Company to the Sponsor, (iii) $330,000 accrued pursuant to the Administrative
- $40,000 — n the Company and the Sponsor, and (iv) $40,000 for certain unreimbursed out-of-pocket
- $861,500 — officers and affiliates have purchased $861,500 of Convertible Bridge Notes, as describ
Filing Documents
- ef20035715_8k.htm (8-K) — 58KB
- 0001140361-24-040712.txt ( ) — 252KB
- fiac-20240910.xsd (EX-101.SCH) — 5KB
- fiac-20240910_def.xml (EX-101.DEF) — 19KB
- fiac-20240910_lab.xml (EX-101.LAB) — 29KB
- fiac-20240910_pre.xml (EX-101.PRE) — 21KB
- ef20035715_8k_htm.xml (XML) — 8KB
01
Item 7.01 Regulation FD Disclosure As previously disclosed, on August 9, 2024, Focus Impact Acquisition Corp., a Delaware corporation (the " Company " or " FIAC ") filed a definitive proxy statement/prospectus (the " Definitive Proxy Statement ") for the solicitation of proxies in connection with a special meeting (the " Special Meeting ") of the Company's stockholders, to vote upon, among other things, a proposal to adopt and approve that certain Business Combination Agreement, dated as of September 12, 2023, 2023, as amended by that certain Amendment No. 1 to Business Combination Agreement, dated as of May 1, 2024 (" Amendment No. 1 ") and as further amended by that certain Amendment No. 2 to Business Combination Agreement, dated as of August 10, 2024 (as amended, restated, supplemented or otherwise modified from time to time in accordance with its terms, the " Business Combination Agreement ") by and among FIAC, Focus Impact Amalco Sub Ltd., a company existing under the laws of the Province of British Columbia (" Amalco Sub "), and DevvStream Holdings Inc., a company existing under the Laws of the Province of British Columbia (" DevvStream "). The transactions contemplated by the Business Combination Agreement are referred to as the "Business Combination." Capitalized terms used but not defined in this Item 7.01 shall have the meanings given to such terms in the Definitive Proxy Statement. Conversion of Obligations at Closing As previously disclosed, the following obligations of the Company become due at the Closing: (i) an unsecured promissory note, dated May 9, 2023, in the total principal amount of $1,500,000, issued by the Company to the Sponsor, (ii) an unsecured promissory note, dated December 1, 2023, in the total principal amount of $1,345,000, issued by the Company to the Sponsor, (iii) $330,000 accrued pursuant to the Administrative Services Agreement between the Company and the Sponsor, and (iv) $40,000 for certain unreimbursed out-of-pocket expe