Focus Impact Acquisition amends business combination agreement with DevvStream; revises share conversion formulas

DevvStream Corp.

Reverse Split Factor defined as lesser of Final Company Share Price / $0.6316 and 1; affects all share/warrant conversions.
Common Amalgamation Consideration recalculated as Reverse Split Factor times Amalgamation Consideration Value divided by $10.20.
Sponsor Side Letter amended to confirm Class B shares and Private Placement Warrants convert only into New PubCo Common Shares at Reverse Split Factor; fractional shares rounded down.
Per Common Share Amalgamation Consideration for Multiple Voting Shares set at 10x Common Conversion Ratio; for Subordinated Voting Shares at Common Conversion Ratio.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DevvStream Corp. amended Amendment No. 1 to the Initial Business Combination Agreement with Focus Impact Acquisition Corp., Focus Impact Amalco Sub Ltd., DevvStream Holdings Inc. (effective 2024-05-01).

Action: amendment
Agreement: merger
Counterparty: Focus Impact Acquisition Corp., Focus Impact Amalco Sub Ltd., DevvStream Holdings Inc.
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, FIAC, Amalco Sub and DevvStream entered into Amendment No. 1 to the Initial Business Combination Agreement (the “ First Amendment ”), which amends the Initial Business Combination Agreement

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DevvStream Corp. filing history →

Source: SEC EDGAR

accession 0001140361-24-024056

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