---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-043753"
form_type: "8-K"
ticker: "DEVS"
cik: "0001854480"
company_name: "DevvStream Corp."
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T19:24:22.309880+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Focus Impact Acquisition Corp. to acquire DevvStream Holdings for $145M in stock

## Summary
- Consideration of $145M plus in-the-money option/warrant exercise proceeds at $10.20 per New PubCo share.
- FIAC to continue from Delaware to Alberta and rename DevvStream Corp.; DevvStream holders get shares in New PubCo.
- FIAC Sponsor to forfeit 10% of Class B shares (up to 30% with consent) and lock-up for 360 days or $12 price trigger.
- Closing expected by June 12, 2024; conditions include shareholder approvals, SEC effectiveness, Nasdaq listing.
- Excise tax liability of $1,798,606 from prior redemptions; due if closing after Dec 31, 2023, unless FIAC liquidates.

## SEC filing metadata
- accession: 0001140361-23-043753
- form_type: 8-K
- ticker: DEVS
- cik: 0001854480
- company_name: DevvStream Corp.
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854480/000114036123043753/0001140361-23-043753-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854480/000114036123043753/ef20010610_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-043753
- JSON: https://secwatch.observer/filing/0001140361-23-043753.json
- Plain text: https://secwatch.observer/filing/0001140361-23-043753.txt

## Key facts
- Material Agreements
  DevvStream Corp. entered into Business Combination Agreement with Focus Impact Acquisition Corp., Focus Impact Amalco Sub Ltd. (effective 2023-09-12).
  - Action: entry
  - Agreement: merger
  - Counterparty: Focus Impact Acquisition Corp., Focus Impact Amalco Sub Ltd.
  - Effective: 2023-09-12
  source text: On September 12, 2023, Focus Impact Acquisition Corp., a Delaware corporation ("FIAC") entered into a Business Combination Agreement (as may be amended, supplemented or otherwise modified from time to time, the "Business Combination Agreement" and the transactions contemplated thereby, collectively, the "Business Combination"), 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").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036123043753/0001140361-23-043753-index.htm
- Material Agreements
  DevvStream Corp. entered into Sponsor Side Letter with Focus Impact Sponsor, LLC (effective 2023-09-12).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Focus Impact Sponsor, LLC
  - Effective: 2023-09-12
  source text: Simultaneously with the execution of the Business Combination Agreement, FIAC and Focus Impact Sponsor, LLC, a Delaware limited liability company ("FIAC Sponsor") entered into a Sponsor Side Letter, pursuant to which, among other things, FIAC Sponsor agreed to forfeit (i) 10% of its SPAC Class B Shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036123043753/0001140361-23-043753-index.htm
- Material Agreements
  DevvStream Corp. entered into Company Support & Lock-Up Agreements with Devvio, Inc. and DevvStream’s directors and officers (effective 2023-09-12).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Devvio, Inc. and DevvStream’s directors and officers
  - Effective: 2023-09-12
  source text: contemporaneously with the execution of the Business Combination Agreement, DevvStream, FIAC and each of Devvio, Inc., the majority and controlling shareholder of DevvStream, and DevvStream’s directors and officers (the "Core Company Securityholders") entered into Company Support & Lock-Up Agreements (the "Company Support Agreements")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036123043753/0001140361-23-043753-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.