---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-044124"
form_type: "8-K"
ticker: "DEVS"
cik: "0001854480"
company_name: "DevvStream Corp."
filed_at: "2025-12-03T23:59:59+00:00"
generated_at: "2026-05-16T15:27:46.215907+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-25-044124
- form_type: 8-K
- ticker: DEVS
- cik: 0001854480
- company_name: DevvStream Corp.
- filed_at: 2025-12-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854480/000114036125044124/0001140361-25-044124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854480/000114036125044124/ef20060292_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-044124
- JSON: https://secwatch.observer/filing/0001140361-25-044124.json
- Plain text: https://secwatch.observer/filing/0001140361-25-044124.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.