DevvStream Corp. Enters Material Agreement, Creates Financial Obligation

TL;DR

DevvStream Corp. just signed a big deal creating a new financial obligation. Details in the 8-K.

AI Summary

DevvStream Corp. entered into a material definitive agreement on December 18, 2024, which also created a direct financial obligation for the registrant. The filing details the creation of this obligation and includes financial statements and exhibits related to the agreement. The company was formerly known as Focus Impact Acquisition Corp. until March 31, 2021.

Why It Matters

This filing indicates a significant new financial commitment or agreement for DevvStream Corp., which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — Entering into new material agreements and financial obligations can introduce financial risks and uncertainties for a company.

Key Players & Entities

• DevvStream Corp. (company) — Registrant
• December 18, 2024 (date) — Date of earliest event reported
• Focus Impact Acquisition Corp. (company) — Former company name
• March 31, 2021 (date) — Date of name change

FAQ

Key Financial Figures

• $3,000,000 — vember 11, 2024, the Company issued (i) $3,000,000 of new 5.3% secured convertible notes t
• $982,150 — bility company (the "Sponsor") and (ii) $982,150 of new 5.3% secured convertible notes t
• $345,000 — the Sponsor, dated May 9, 2023, and (z) $345,000 of accrued and unpaid fees owed by the
• $0.867 — subject to a conversion floor price of $0.867 per share. In connection with the New

Filing Documents

• ef20040388_8k.htm (8-K) — 33KB
• ef20040388_ex10-1.htm (EX-10.1) — 101KB
• 0001140361-24-049951.txt ( ) — 289KB
• devs-20241218.xsd (EX-101.SCH) — 4KB
• devs-20241218_lab.xml (EX-101.LAB) — 22KB
• devs-20241218_pre.xml (EX-101.PRE) — 16KB
• ef20040388_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed on the Current Report on Form 8-K of DevvStream Corp. (the "Company") filed with the U.S. Securities and Exchange Commission on November 11, 2024, the Company issued (i) $3,000,000 of new 5.3% secured convertible notes to Focus Impact Sponsor, LLC, a Delaware limited liability company (the "Sponsor") and (ii) $982,150 of new 5.3% secured convertible notes to Focus Impact Partners, LLC (the "Focus Impact Partners", together with the Sponsor, the "Secured Parties") (such secured convertible notes together, the "New Convertible Notes"), in exchange for the cancellation and conversion of (x) the unsecured convertible grid note (the "Focus Partners Convertible Note") issued by the Company to the Consultant on January 12, 2024 , (y) the $3,000,000 convertible promissory note issued by the Company to the Sponsor, dated December 1, 2023 and a convertible promissory note issued by the Company to the Sponsor, dated May 9, 2023, and (z) $345,000 of accrued and unpaid fees owed by the Company to the Consultant under the administrative services agreement, dated October 27, 2021, by and between the Company (as successor to Focus Impact Acquisition Corp.) and the Sponsor . The New Convertible Notes have a maturity date of November 13, 2026. The principal loan amount and any accrued and unpaid interest under the New Convertible Notes are convertible into common shares of the Company at a 25% discount to the issuer's 20-day volume weighted average price, subject to a conversion floor price of $0.867 per share. In connection with the New Convertible Notes, the Company agreed (i) to grant the Secured Parties a first ranking security interest in all of the carbon credits and similar environmental assets held by the Company, presently existing or hereafter created or acquired, and (ii) to execute and deliver to the Secured Parties a security agreement evidencing the Secured Parties' security interest (the

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Security Agreement, dated December 18, 2024, by and among DevvStream Corp., Focus Impact Sponsor, LLC and Focus Impact Partners, LLC. 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 19, 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