DevvStream Corp. (DEVS): debt financing — Focus Impact Acquisition Corp. issues up to $1.5M non-interest note due at business combination

DevvStream Corp.

Issued unsecured promissory note to Focus Impact Sponsor, LLC for up to $1,500,000 principal.
Note bears no interest; entire principal due upon closing of initial business combination.
If no business combination occurs, repayment limited to funds outside the trust account; note otherwise extinguished.
Sponsor waives any claim against trust account proceeds.
Drawdown requests funded within three business days; amounts drawn not available for future draws.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

DevvStream Corp. incurred loan of $1,500,000 with Focus Impact Sponsor, LLC at does not bear interest maturing matures upon closing of the Company's initial business combination.

Instrument: loan
Principal: $1,500,000
Counterparty: Focus Impact Sponsor, LLC
Rate: does not bear interest
Maturity: matures upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On December 1, 2023, Focus Impact Acquisition Corp. (the “ Company ”) issued an unsecured promissory note in the total principal amount of up to $1,500,000 (the “ Promissory Note ”) to Focus Impact Sponsor, LLC. The Promissory Note does not bear interest and matures upon closing of the Company’s initial business combination.

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Source: SEC EDGAR

accession 0001140361-23-056660

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