DevvStream Corp. (DEVS): debt financing — DevvStream enters $300M convertible note facility; initial $10M for crypto treasury

DevvStream Corp.

Securities purchase agreement for up to $300M in senior secured convertible notes; initial $10M funded.
Notes convertible at 200% of prior closing price, 8% OID, 8% interest, 18-month maturity, secured by all assets.
75% of net proceeds (70% of initial tranche) to purchase crypto assets: Bitcoin, Solana, DevvE.
BitGo Trust Company appointed as custodian; FRNT Financial as digital treasury consultant.
Special shareholder meeting within 75 days to approve issuance >19.99% of outstanding shares for Nasdaq compliance.

item 1.01 item 2.03 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DevvStream Corp. incurred convertible notes of up to an aggregate of $300 million with Helena Global Investment Opportunities 1 Ltd. at 8% per annum maturing eighteenth month anniversary of the date of issuance.

Instrument: convertible notes
Principal: up to an aggregate of $300 million
Counterparty: Helena Global Investment Opportunities 1 Ltd.
Rate: 8% per annum
Maturity: eighteenth month anniversary of the date of issuance
Event: incurrence

Exact text from the filing

the Company may sell to the Buyers up to an aggregate of $300 million in newly issued senior secured convertible notes

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DevvStream Corp. filing history →

Source: SEC EDGAR

accession 0001140361-25-026750

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