--- schema_version: "secwatch.filing_event.v1" accession: "0001140361-24-046512" form_type: "8-K" ticker: "DEVS" cik: "0001854480" company_name: "DevvStream Corp." filed_at: "2024-11-13T23:59:59+00:00" generated_at: "2026-05-30T01:07:14.052586+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # Devvstream Corp. completes de-SPAC merger; 27.4M shares outstanding, PIPE of $2.25M, warrants assumed. ## Summary - Business combination closed Nov 6; New PubCo (DEVS) trades on Nasdaq; FIAC shareholders got 0.9692 shares each. - PIPE financing raised $2.25M via 3.44M shares; total shares outstanding ~27.4M (excl. 557k consulting shares). - New PubCo issued $3.98M in 5.3% convertible notes (24-month maturity, conversion at 25% discount to VWAP, floor $0.867). - Strategic consulting agreement: $500k annual fee plus 557,290 shares; payments contingent on $5M raise or 2 positive cash flow quarters. - Warrants assumed: 11.5M public and 11.2M private placement; exercise at $11.86 for 0.9692 shares each. ## SEC filing metadata - accession: 0001140361-24-046512 - form_type: 8-K - ticker: DEVS - cik: 0001854480 - company_name: DevvStream Corp. - filed_at: 2024-11-13T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.01, 2.01, 9.01, 5.02, 3.02, 2.03, 3.03, 5.03, 5.01, 5.05, 7.01, 8.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/ef20038430_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001140361-24-046512 - JSON: https://secwatch.observer/filing/0001140361-24-046512.json - Plain text: https://secwatch.observer/filing/0001140361-24-046512.txt ## Key facts - Executive change Stephen Kukucha was appointed as Director at DevvStream Corp.. - Action: appointed - Role: Director source text: five new directors were appointed to the Board, including Michael Max Bühler, Stephen Kukucha, Jamila Piracci, Ray Quintana and Thomas G. Anderson. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Ray Quintana was appointed as Director at DevvStream Corp.. - Action: appointed - Role: Director source text: five new directors were appointed to the Board, including Michael Max Bühler, Stephen Kukucha, Jamila Piracci, Ray Quintana and Thomas G. Anderson. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Jamila Piracci was appointed as Director at DevvStream Corp.. - Action: appointed - Role: Director source text: five new directors were appointed to the Board, including Michael Max Bühler, Stephen Kukucha, Jamila Piracci, Ray Quintana and Thomas G. Anderson. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Ray Quintana resigned as Chairman of the Board and Director at DevvStream Corp.. - Action: resigned - Role: Chairman of the Board and Director source text: Mr. Quintana and Mr. Anderson resigned from the Board as chairman and director and as director, respectively evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Michael Max Bühler was appointed as Director at DevvStream Corp.. - Action: appointed - Role: Director source text: five new directors were appointed to the Board, including Michael Max Bühler, Stephen Kukucha, Jamila Piracci, Ray Quintana and Thomas G. Anderson. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Thomas G. Anderson resigned as Director at DevvStream Corp.. - Action: resigned - Role: Director source text: Mr. Quintana and Mr. Anderson resigned from the Board as chairman and director and as director, respectively evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Wray Thorn was appointed as Chairman of the Board at DevvStream Corp.. - Action: appointed - Role: Chairman of the Board source text: Wray Thorn was appointed chairman of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Executive change Thomas G. Anderson was appointed as Director at DevvStream Corp.. - Action: appointed - Role: Director source text: five new directors were appointed to the Board, including Michael Max Bühler, Stephen Kukucha, Jamila Piracci, Ray Quintana and Thomas G. Anderson. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Governance Changes DevvStream Corp.: Changed fiscal year end to July 31st. - Change: fiscal year change source text: Further, in connection with the consummation of the Business Combination, New PubCo changed its fiscal year end to July 31 st . evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Governance Changes DevvStream Corp.: Adopted a new Code of Business Conduct applicable to all employees, officers and directors (effective 2024-11-06). - Change: code of ethics - Effective: 2024-11-06 source text: In connection with the Transactions, on November 6, 2024, the Board approved and adopted a new Code of Business Conduct applicable to all employees, officers and directors of New PubCo. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - Governance Changes DevvStream Corp.: Changed jurisdiction from Delaware to Alberta and name to DevvStream Corp. via Articles of Continuance. - Change: charter amendment source text: Pursuant to the Business Combination Agreement, on the Closing Date, (a) FIAC changed its jurisdiction from the State of Delaware under the Delaware General Corporation Law to the Province of Alberta, Canada, and thereby become a company existing under the Business Corporations Act (Alberta) and changed its name to DevvStream Corp. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm - M&A Transactions DevvStream Corp. completed an acquisition involving Focus Impact Acquisition Corp. (closed 2024-11-06). - Action: acquisition - Counterparty: Focus Impact Acquisition Corp. - Closing: 2024-11-06 source text: On November 6, 2024 (the “Closing Date”), Focus Impact Acquisition Corp. and our predecessor company (“FIAC”) consummated the previously announced business combination with DevvStream Holdings Inc. evidence_url: https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.