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DevvStream Holdings Inc. (OTCQB: DSTRF) announced the results of its 2024 Annual General and Special Shareholder Meeting held on September 11, 2024. Shareholders overwhelmingly approved the plan of arrangement with Focus Impact Acquisition Corp. (FIAC), which involves FIAC redomiciling as an Alberta company and DevvStream amalgamating into a FIAC subsidiary. The meeting saw 85.65% of eligible voting rights represented, with 100% approval for the arrangement resolution. Shareholders also re-elected five directors and reappointed MNP LLP as auditors. CEO Sunny Trinh expressed satisfaction with the strong shareholder support. The Transaction is expected to close on September 16, 2024, subject to FIAC stockholder approval and final court order.
Focus Impact Acquisition Corp. (NASDAQ: FIAC) and DevvStream Holdings Inc. (OTCQB: DSTRF) have announced special meetings for shareholders to vote on their proposed Business Combination. The FIAC special meeting is scheduled for September 10, 2024, while DevvStream's annual general and special meeting will be held on September 11, 2024. This follows the recent announcement of registration statement effectiveness with the SEC, marking a significant milestone in the transaction.
The company expects to complete the Business Combination during the third quarter, aiming to become the first publicly traded carbon streaming company on a major U.S. stock exchange. Additionally, DevvStream and Focus Impact will host a 2024 Analyst and Investor Day on September 5, 2024, to provide updates on commercial progress, long-term goals, and overall business strategy.
Focus Impact Acquisition Corp. (NASDAQ: FIAC) and DevvStream Holdings (CBOE: DESG, OTCQB: DSTRF, FSE: CQ0) have announced that the U.S. SEC has declared their Registration Statement effective. This relates to their proposed business combination.
Once conditions are met, including shareholder and court approvals, the Business Combination will close, and the new entity will trade on Nasdaq under 'DEVS' and 'DEVSW.' DevvStream aims to be the first publicly traded carbon credit company on a major U.S. stock exchange.
This milestone is seen as a significant step towards providing investors with long-term returns and meeting the demand for high-quality carbon credits. Additional information will be announced soon, including the scheduling of a shareholder vote.
DevvStream Holdings has announced an agreement with OK2Charge to use OK2Charge's EV charging network for generating carbon credits. This partnership aims to boost EV infrastructure in rental properties, generating significant carbon credits to fund further expansion. By participating in DevvStream's Electric Vehicle Charging Carbon Offset Program (EVCCOP), OK2Charge will receive a majority of the net revenues from the sale of these credits, with DevvStream retaining a portion for their services. This collaboration follows DevvStream's recent agreements with other EV infrastructure developers, strengthening its position as a leading carbon credit generation partner globally.
DevvStream has announced a partnership with E-Fill to launch its Electric Vehicle Charging Carbon Offset Program (EVCCOP) in India. This initiative will generate voluntary carbon credits from EV charging stations, creating a new revenue stream for E-Fill and supporting EV infrastructure expansion. The program is designed for various ChargePoint Operators and aims to reduce greenhouse gas emissions by encouraging EV usage. India's EV market is growing rapidly, with government support for EV manufacturing and charging infrastructure. DevvStream's business combination with Focus Impact Acquisition Corp. is progressing, with an expected NASDAQ listing in Q3 2024.
DevvStream Holdings Inc. announces amendments to the Business Combination Agreement with Focus Impact Acquisition Corp., involving a reverse split of stock and share consideration adjustments. The First Amendment outlines the conversion of securities, warrants, and shares, detailing the SPAC Continuance and the Amalgamation process. The agreement specifies terms for New PubCo Common Shares issuance and the Reverse Split Factor calculation, aiming to streamline the Business Combination.
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