secwatch.observer — SEC 8-K summary
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Issuer:     DevvStream Corp. (DEVS)
CIK:        0001854480
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0001140361-24-046512
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 9.01, 5.02, 3.02, 2.03, 3.03, 5.03, 5.01, 5.05, 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Devvstream Corp. completes de-SPAC merger; 27.4M shares outstanding, PIPE of $2.25M, warrants assumed.
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/0001140361-24-046512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854480/000114036124046512/ef20038430_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-046512

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