DevvStream Corp. Files 8-K on Security Holder Rights

TL;DR

DevvStream (formerly Focus Impact Acquisition) filed an 8-K on Dec 6, 2024, detailing changes to security holder rights.

AI Summary

DevvStream Corp. filed an 8-K on December 6, 2024, reporting material modifications to security holders' rights and financial statements/exhibits. The company, formerly known as Focus Impact Acquisition Corp. until March 31, 2021, is incorporated in Alberta, Canada, with its principal executive offices located in Vancouver.

Why It Matters

This filing indicates potential changes affecting the rights of DevvStream Corp.'s security holders, requiring investors to review the specifics of these modifications.

Risk Assessment

Risk Level: medium — Filings related to modifications of security holder rights can introduce uncertainty and potential changes in the value or nature of investments.

Key Numbers

• 001-40977 — SEC File Number (Identifies the company's filing history with the SEC.)
• 86-2433757 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• DevvStream Corp. (company) — Registrant
• Focus Impact Acquisition Corp. (company) — Former name of registrant
• December 6, 2024 (date) — Date of report
• March 31, 2021 (date) — Date of former name change
• Alberta, Canada (location) — Jurisdiction of incorporation
• Vancouver (location) — Location of principal executive offices

FAQ

Key Financial Figures

• $11.86 — the warrant price of the Warrants from $11.86 per share to $1.52 per common share of
• $1.52 — f the Warrants from $11.86 per share to $1.52 per common share of the Company ("Commo
• $18.00 — defined below)); the adjustment of the $18.00 per share redemption trigger price desc
• $2.39 — Section 6.2 of the Warrant Agreement to $2.39 per Common Share (representing 180% of
• $10.00 — e Market Value); the adjustment of the $10.00 per share redemption trigger price desc
• $1.32 — Section 6.2 of the Warrant Agreement to $1.32 (representing the Newly Issued Price wh
• $9.20 — price, the "Market Value") being below $9.20 per share, and (iv) the consummation of
• $0.94 — alue was determined to be approximately $0.94 per share, which is the the volume-weig

Filing Documents

• ef20039641_8k.htm (8-K) — 39KB
• ef20039641_ex99-1.htm (EX-99.1) — 12KB
• 0001140361-24-048688.txt ( ) — 190KB
• devs-20241206.xsd (EX-101.SCH) — 4KB
• devs-20241206_lab.xml (EX-101.LAB) — 22KB
• devs-20241206_pre.xml (EX-101.PRE) — 16KB
• ef20039641_8k_htm.xml (XML) — 4KB

03

Item 3.03 Material Modification to Rights of Security Holders. On December 6, 2024, DevvStream Corp. (the "Company"), the successor of Focus Impact Acquisition Corp. following the consummation of its business combination with DevvStream Holdings Inc. on November 6, 2024 (the "Business Combination"), issued a notice (the "Warrant Adjustment Notice") to Continental Stock Transfer & Trust Company, as warrant agent ("CST"), and the holders of warrants (the "Warrants") that were issued pursuant to the warrant agreement (the "Warrant Agreement"), dated November 1, 2021, by and between the Company and CST , notifying CST and holders of the following adjustments to the Warrants (the "Warrant Adjustments"): the adjustment to the warrant price of the Warrants from $11.86 per share to $1.52 per common share of the Company ("Common Share") (representing 115% of the Newly Issued Price (as defined below) which is greater than the Market Value (as defined below)); the adjustment of the $18.00 per share redemption trigger price described in Section 6.1 and Section 6.2 of the Warrant Agreement to $2.39 per Common Share (representing 180% of the Newly Issued Price which is greater than the Market Value); the adjustment of the $10.00 per share redemption trigger price described in Section 6.2 of the Warrant Agreement to $1.32 (representing the Newly Issued Price which is greater than the Market Value); and pursuant to Section 4.2 of the Warrant Agreement, as a result of the consummation of the Business Combination, each Warrant will be exercisable for 0.9692 Common Shares. The Warrant Adjustments were required pursuant to Section 4.2 and Section 4.4 of the Warrant Agreement as a result of (i) the Company issuing Common Shares at an effective issue price of $1.32 per share (the "Newly Issued Price") for capital raising purposes in connection with the closing of the Business Combination, (ii) the aggregate gross proceeds from such issuances representing more than 60% of the tot

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Warrant Agreement, dated November 1, 2021, by and between FIAC and Continental Stock Transfer & Trust Company, as warrant agent (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, filed by FIAC on November 1, 2021). 99.1 Warrant Adjustment Notice, dated December 6, 2024. 104 Cover Page Interactive Data File (embedded with the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: December 6, 2024 DEVVSTREAM CORP. By: /s/ David Goertz Name: David Goertz Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR