DevvStream signs deal to merge with Southern Energy in reverse merger; Southern shareholders get 70% of combined company

DevvStream Corp.

Southern Energy Renewables shareholders to own 70% of DevvStream on fully-diluted basis post-closing.
PIPE investment of ~$2M at $15.58/share from Southern's sole shareholder concurrent with signing.
DevvStream will domesticate from Alberta to Delaware; merger requires Nasdaq approval and SEC effective S-4.
Side letter with Helena restricts convertible note sales and requires $7.5M from ELOC by Feb 28, 2026.
Closing condition requires Southern to maintain at least $10M in assets; termination fee equals 3.1% of market cap.

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. entered into Agreement and Plan of Merger with Southern Energy Renewables Inc. and Sierra Merger Sub, Inc. (effective 2025-12-03).

Action: entry
Agreement: merger
Counterparty: Southern Energy Renewables Inc. and Sierra Merger Sub, Inc.
Effective: 2025-12-03

Exact text from the filing

On December 3, 2025 , DevvStream Corp., an Alberta corporation (the “Company”) entered into an Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement” and the transactions contemplated thereby including the Merger, PIPE Investment and Domestication, collectively, the “Transactions”), by and among the Company, Southern Energy Renewables Inc., a Louisiana corporation (“Southern”), and Sierra Merger Sub, Inc., a Delaware corporation and a newly-formed wholly-owned subsidiary of the Company (“Merger SubCo”).

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197 material agreements filed in the last 30 days. Browse all material agreements →

DevvStream Corp. filing history →

Source: SEC EDGAR

accession 0001140361-25-044124

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