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DevvStream Corp. has called a virtual special meeting of shareholders for 8:00 a.m. PT on July 28 2025 to vote on two key items.

  • Proposal 1 – Reverse Stock Split: Authorizes the Board, at any time within one year after approval, to file Articles of Amendment implementing a reverse split of outstanding common shares at a ratio between 1-for-5 and 1-for-50. The exact ratio will be selected by the Board and announced publicly.
  • Proposal 2 – Adjournment: Allows one or more adjournments of the meeting to solicit additional proxies if votes are insufficient to pass Proposal 1.

The record date is June 23 2025; on that date 33,461,734 common shares were outstanding. A quorum requires one-third of those shares (11,153,911) to be present online or by proxy. Proposal 1 needs approval by holders of at least two-thirds of votes cast; Proposal 2 requires a simple majority.

Rationale. The primary objective is to regain or maintain compliance with the Nasdaq Capital Market $1.00 minimum bid price rule, after DevvStream received a notice of non-compliance on February 12 2025. The Company has until August 13 2025 to cure the deficiency. Management also cites potential improvements to liquidity, analyst coverage, and institutional ownership that a higher share price could bring.

Key mechanics. • No change to the unlimited authorized share capital.
• No fractional shares will be issued; holdings will be rounded down to the nearest whole share.
• All outstanding options, warrants and convertible securities will be proportionally adjusted.
• Shareholders holding certificates will receive instructions from Continental Stock Transfer & Trust to exchange them; book-entry holders will be adjusted automatically.
• The Board may abandon the split at any time before filing, even if shareholders approve it.

Risks. Management cannot guarantee that the split will raise or sustain the share price above $1.00, nor prevent future delisting for other rule breaches. A higher price may reduce trading volume, and rounding down fractions slightly dilutes affected holders.

The Board unanimously recommends voting FOR both proposals.

DevvStream Corp. ha convocato un'assemblea speciale virtuale degli azionisti per le 8:00 a.m. PT del 28 luglio 2025 per votare su due punti fondamentali.

  • Proposta 1 – Raggruppamento azionario inverso: Autorizza il Consiglio di Amministrazione, in qualsiasi momento entro un anno dall'approvazione, a depositare gli Articoli di Modifica per attuare un raggruppamento inverso delle azioni ordinarie in circolazione con un rapporto compreso tra 1 per 5 e 1 per 50. Il rapporto esatto sarà scelto dal Consiglio e annunciato pubblicamente.
  • Proposta 2 – Rinviare la riunione: Consente uno o più rinvii della riunione per raccogliere ulteriori deleghe qualora i voti non siano sufficienti per approvare la Proposta 1.

La data di riferimento è il 23 giugno 2025; in tale data risultavano in circolazione 33.461.734 azioni ordinarie. Il quorum richiede la presenza online o per delega di almeno un terzo di queste azioni (11.153.911). La Proposta 1 necessita dell'approvazione di almeno due terzi dei voti espressi; la Proposta 2 richiede la maggioranza semplice.

Motivazione. L'obiettivo principale è riconquistare o mantenere la conformità con la regola del Nasdaq Capital Market sul prezzo minimo di offerta di $1,00, dopo che DevvStream ha ricevuto una comunicazione di non conformità il 12 febbraio 2025. La Società ha tempo fino al 13 agosto 2025 per sanare la situazione. Il management evidenzia anche potenziali miglioramenti in termini di liquidità, copertura da parte degli analisti e proprietà istituzionale che un prezzo delle azioni più elevato potrebbe portare.

Dettagli tecnici. • Nessuna modifica al capitale sociale autorizzato illimitato.
• Non saranno emesse frazioni di azioni; le partecipazioni saranno arrotondate per difetto alla quota intera più vicina.
• Tutte le opzioni, warrant e titoli convertibili in circolazione saranno adeguati proporzionalmente.
• Gli azionisti con certificati riceveranno istruzioni da Continental Stock Transfer & Trust per lo scambio; i detentori in libro contabile saranno adeguati automaticamente.
• Il Consiglio potrà abbandonare il raggruppamento in qualsiasi momento prima del deposito, anche se approvato dagli azionisti.

Rischi. Il management non può garantire che il raggruppamento aumenterà o manterrà il prezzo delle azioni sopra $1,00, né prevenire future esclusioni per altre violazioni delle regole. Un prezzo più alto potrebbe ridurre il volume degli scambi e l'arrotondamento per difetto delle frazioni comporta una lieve diluizione per gli azionisti interessati.

Il Consiglio raccomanda all’unanimità di votare FAVOREVOLMENTE su entrambe le proposte.

DevvStream Corp. ha convocado una reunión especial virtual de accionistas para las 8:00 a.m. PT del 28 de julio de 2025 para votar dos asuntos clave.

  • Propuesta 1 – Agrupamiento inverso de acciones: Autoriza al Consejo, en cualquier momento dentro de un año tras la aprobación, a presentar Artículos de Enmienda para implementar una consolidación inversa de las acciones comunes en circulación con una proporción entre 1 por 5 y 1 por 50. La proporción exacta será seleccionada por el Consejo y anunciada públicamente.
  • Propuesta 2 – Aplazamiento: Permite uno o más aplazamientos de la reunión para solicitar más poderes si los votos son insuficientes para aprobar la Propuesta 1.

La fecha de registro es el 23 de junio de 2025; en esa fecha había 33,461,734 acciones comunes en circulación. El quórum requiere que un tercio de esas acciones (11,153,911) estén presentes en línea o por poder. La Propuesta 1 necesita la aprobación de al menos dos tercios de los votos emitidos; la Propuesta 2 requiere mayoría simple.

Justificación. El objetivo principal es recuperar o mantener el cumplimiento con la regla del Nasdaq Capital Market del precio mínimo de oferta de $1.00, después de que DevvStream recibiera un aviso de incumplimiento el 12 de febrero de 2025. La Compañía tiene hasta el 13 de agosto de 2025 para corregir la deficiencia. La gerencia también menciona posibles mejoras en la liquidez, cobertura de analistas y propiedad institucional que un precio de acción más alto podría aportar.

Mecánica clave. • No hay cambios en el capital social autorizado ilimitado.
• No se emitirán acciones fraccionarias; las tenencias se redondearán hacia abajo al número entero más cercano.
• Todas las opciones, warrants y valores convertibles en circulación se ajustarán proporcionalmente.
• Los accionistas con certificados recibirán instrucciones de Continental Stock Transfer & Trust para canjearlos; los titulares en registro electrónico serán ajustados automáticamente.
• El Consejo puede abandonar la consolidación en cualquier momento antes de presentar la solicitud, incluso si los accionistas la aprueban.

Riesgos. La gerencia no puede garantizar que la consolidación elevará o mantendrá el precio de la acción por encima de $1.00, ni evitar futuras exclusiones por otras infracciones de las reglas. Un precio más alto puede reducir el volumen de negociación, y el redondeo hacia abajo de fracciones diluye ligeramente a los accionistas afectados.

El Consejo recomienda unánimemente votar A FAVOR de ambas propuestas.

DevvStream Corp.는 2025년 7월 28일 오전 8시 PT에 주주들을 위한 가상 임시 총회를 소집하여 두 가지 주요 안건에 대해 투표할 예정입니다.

  • 안건 1 – 역병합(Reverse Stock Split): 승인 후 1년 이내 언제든지 이사회가 발행 주식을 1대 5에서 1대 50 사이의 비율로 역병합하는 정관 수정안을 제출할 수 있도록 권한을 부여합니다. 정확한 비율은 이사회가 결정하고 공개 발표할 예정입니다.
  • 안건 2 – 연기: 안건 1의 통과를 위한 투표가 부족할 경우 추가 위임장을 확보하기 위해 회의를 한 번 이상 연기할 수 있도록 허용합니다.

기록 기준일은 2025년 6월 23일이며, 이 날짜에 33,461,734주의 보통주가 발행되어 있습니다. 정족수는 이 중 3분의 1인 11,153,911주가 온라인 또는 위임장으로 참석해야 합니다. 안건 1은 투표 수의 3분의 2 이상의 승인이 필요하며, 안건 2는 단순 과반수로 통과됩니다.

배경. 주요 목적은 나스닥 캐피털 마켓 최소 입찰가 $1.00 규정을 준수하거나 재준수하는 것으로, DevvStream은 2025년 2월 12일에 비준수 통지를 받았습니다. 회사는 2025년 8월 13일까지 결함을 해소해야 합니다. 경영진은 또한 주가 상승이 유동성, 애널리스트 커버리지, 기관 소유권 개선에 기여할 수 있다고 언급합니다.

주요 사항. • 무제한 승인 발행 주식 자본에는 변화 없음.
• 소수 주식은 발행하지 않으며, 보유 주식은 가장 가까운 정수로 내림 처리됩니다.
• 모든 미결제 옵션, 워런트 및 전환 증권은 비례 조정됩니다.
• 증서 보유 주주는 Continental Stock Transfer & Trust로부터 교환 지침을 받으며, 명부 보유 주주는 자동으로 조정됩니다.
• 이사회는 주주 승인 여부와 관계없이 제출 전 언제든지 병합을 철회할 수 있습니다.

위험. 경영진은 병합이 주가를 $1.00 이상으로 올리거나 유지할 것을 보장하지 않으며, 다른 규정 위반으로 인한 상장폐지를 방지할 수도 없습니다. 주가 상승은 거래량 감소를 초래할 수 있고, 내림 처리된 소수 주식은 해당 주주에게 약간의 희석 효과를 가져옵니다.

이사회는 두 안건 모두에 대해 만장일치로 찬성 투표를 권고합니다.

DevvStream Corp. a convoqué une assemblée générale extraordinaire virtuelle des actionnaires pour 8h00 PT le 28 juillet 2025 afin de voter sur deux points clés.

  • Proposition 1 – Fractionnement inversé des actions : Autorise le Conseil d'administration, à tout moment dans l'année suivant l'approbation, à déposer des articles modificatifs pour mettre en œuvre un regroupement inversé des actions ordinaires en circulation selon un ratio compris entre 1 pour 5 et 1 pour 50. Le ratio exact sera choisi par le Conseil et annoncé publiquement.
  • Proposition 2 – Ajournement : Permet un ou plusieurs ajournements de la réunion pour solliciter des procurations supplémentaires si les votes sont insuffisants pour approuver la Proposition 1.

La date d'enregistrement est le 23 juin 2025 ; à cette date, 33 461 734 actions ordinaires étaient en circulation. Le quorum requiert la présence en ligne ou par procuration d'au moins un tiers de ces actions (11 153 911). La Proposition 1 nécessite l'approbation des détenteurs d'au moins deux tiers des votes exprimés ; la Proposition 2 requiert une majorité simple.

Motivation. L'objectif principal est de retrouver ou de maintenir la conformité avec la règle du Nasdaq Capital Market sur le prix minimum d'offre de 1,00 $, après que DevvStream a reçu un avis de non-conformité le 12 février 2025. La société dispose jusqu'au 13 août 2025 pour remédier à ce manquement. La direction évoque également des améliorations potentielles de la liquidité, de la couverture des analystes et de la propriété institutionnelle qu'un prix de l'action plus élevé pourrait apporter.

Mécanismes clés. • Aucun changement au capital social autorisé illimité.
• Aucune action fractionnaire ne sera émise ; les avoirs seront arrondis à la baisse à l'action entière la plus proche.
• Toutes les options, bons de souscription et titres convertibles en circulation seront ajustés proportionnellement.
• Les actionnaires détenant des certificats recevront des instructions de Continental Stock Transfer & Trust pour les échanger ; les détenteurs en inscription comptable seront ajustés automatiquement.
• Le Conseil peut abandonner le regroupement à tout moment avant le dépôt, même si les actionnaires l'approuvent.

Risques. La direction ne peut garantir que le regroupement fera monter ou maintiendra le cours de l’action au-dessus de 1,00 $, ni empêcher une radiation future pour d’autres violations des règles. Un cours plus élevé peut réduire le volume des échanges, et l’arrondi à la baisse des fractions dilue légèrement les actionnaires concernés.

Le Conseil recommande à l’unanimité de voter POUR les deux propositions.

Die DevvStream Corp. hat eine virtuelle außerordentliche Hauptversammlung der Aktionäre für 8:00 Uhr PT am 28. Juli 2025 einberufen, um über zwei wichtige Punkte abzustimmen.

  • Vorschlag 1 – Reverse Stock Split: Ermächtigt den Vorstand, innerhalb eines Jahres nach Genehmigung eine Satzungsänderung einzureichen, um eine Zusammenlegung der ausstehenden Stammaktien im Verhältnis zwischen 1 zu 5 und 1 zu 50 durchzuführen. Das genaue Verhältnis wird vom Vorstand festgelegt und öffentlich bekanntgegeben.
  • Vorschlag 2 – Vertagung: Ermöglicht eine oder mehrere Vertagungen der Versammlung, um zusätzliche Vollmachten einzuholen, falls die Stimmen nicht ausreichen, um Vorschlag 1 zu verabschieden.

Stichtag ist der 23. Juni 2025; an diesem Tag waren 33.461.734 Stammaktien ausstehend. Für das Quorum muss ein Drittel dieser Aktien (11.153.911) online oder per Vollmacht anwesend sein. Vorschlag 1 benötigt die Zustimmung von mindestens zwei Dritteln der abgegebenen Stimmen; Vorschlag 2 erfordert eine einfache Mehrheit.

Begründung. Das Hauptziel ist die Wiederherstellung oder Aufrechterhaltung der Einhaltung der Nasdaq Capital Market Mindestgebotspreisregel von 1,00 $, nachdem DevvStream am 12. Februar 2025 eine Mitteilung über die Nichteinhaltung erhalten hat. Das Unternehmen hat bis zum 13. August 2025 Zeit, den Mangel zu beheben. Das Management verweist auch auf mögliche Verbesserungen bei Liquidität, Analystenabdeckung und institutionellem Besitz, die ein höherer Aktienkurs bringen könnte.

Wesentliche Details. • Keine Änderung des unbegrenzten genehmigten Aktienkapitals.
• Es werden keine Bruchteile von Aktien ausgegeben; Bestände werden abgerundet auf die nächste ganze Aktie.
• Alle ausstehenden Optionen, Warrants und wandelbaren Wertpapiere werden proportional angepasst.
• Aktionäre mit Zertifikaten erhalten Anweisungen von Continental Stock Transfer & Trust zum Umtausch; Buchhalterische Inhaber werden automatisch angepasst.
• Der Vorstand kann die Zusammenlegung jederzeit vor Einreichung zurückziehen, auch wenn die Aktionäre zustimmen.

Risiken. Das Management kann nicht garantieren, dass die Zusammenlegung den Aktienkurs über 1,00 $ hebt oder hält, noch zukünftige Delistings wegen anderer Regelverstöße verhindert. Ein höherer Kurs kann das Handelsvolumen reduzieren, und das Abrunden von Bruchteilen führt zu einer leichten Verwässerung der betroffenen Aktionäre.

Der Vorstand empfiehlt einstimmig, beiden Vorschlägen ZUZUSTIMMEN.

Positive
  • Preserves Nasdaq listing: Reverse split is designed to cure the $1.00 bid-price deficiency, avoiding delisting and the liquidity loss that would follow.
  • Flexible ratio (1:5–1:50) allows the Board to tailor the split to prevailing market conditions, potentially minimizing unnecessary share reduction.
Negative
  • Signal of prolonged price weakness: Need for a large-range reverse split highlights sustained share-price pressure and may dampen investor sentiment.
  • Liquidity risk: Fewer shares outstanding and odd-lot creation could reduce trading volume and widen spreads post-split.

Insights

TL;DR Reverse split aims to preserve Nasdaq listing; success hinges on post-split price stability and underlying fundamentals.

The proxy outlines a flexible 1:5–1:50 reverse split that can be executed any time through July 2026. Preserving the Nasdaq listing is material; delisting would sharply curtail liquidity and institutional access. Flexibility lets the Board match the ratio to market conditions, but also injects uncertainty about eventual dilution and liquidity impact. Rounding down fractions is minimal but dilutive. Because authorized shares remain unlimited, the split does not constrain future equity issuance, leaving open the possibility of additional dilution. Overall impact is modestly positive if it succeeds in restoring compliance, yet the action also signals sustained share-price weakness.

TL;DR Governance mechanics are standard; two-thirds supermajority protects minority holders, and Board retains opt-out flexibility.

The filing adheres to Alberta and Nasdaq rules, requiring a special resolution (≥66⅔% of votes cast). Virtual-only format may enhance participation but could face dissent from shareholders preferring in-person meetings. Granting the Board discretionary power to abandon or vary the ratio is common practice but concentrates authority. Share rounding rules favor the Company slightly, yet the absence of cash outs avoids buy-out coercion. From a governance lens the proposals are routine and transparent; impact to shareholder rights is limited.

DevvStream Corp. ha convocato un'assemblea speciale virtuale degli azionisti per le 8:00 a.m. PT del 28 luglio 2025 per votare su due punti fondamentali.

  • Proposta 1 – Raggruppamento azionario inverso: Autorizza il Consiglio di Amministrazione, in qualsiasi momento entro un anno dall'approvazione, a depositare gli Articoli di Modifica per attuare un raggruppamento inverso delle azioni ordinarie in circolazione con un rapporto compreso tra 1 per 5 e 1 per 50. Il rapporto esatto sarà scelto dal Consiglio e annunciato pubblicamente.
  • Proposta 2 – Rinviare la riunione: Consente uno o più rinvii della riunione per raccogliere ulteriori deleghe qualora i voti non siano sufficienti per approvare la Proposta 1.

La data di riferimento è il 23 giugno 2025; in tale data risultavano in circolazione 33.461.734 azioni ordinarie. Il quorum richiede la presenza online o per delega di almeno un terzo di queste azioni (11.153.911). La Proposta 1 necessita dell'approvazione di almeno due terzi dei voti espressi; la Proposta 2 richiede la maggioranza semplice.

Motivazione. L'obiettivo principale è riconquistare o mantenere la conformità con la regola del Nasdaq Capital Market sul prezzo minimo di offerta di $1,00, dopo che DevvStream ha ricevuto una comunicazione di non conformità il 12 febbraio 2025. La Società ha tempo fino al 13 agosto 2025 per sanare la situazione. Il management evidenzia anche potenziali miglioramenti in termini di liquidità, copertura da parte degli analisti e proprietà istituzionale che un prezzo delle azioni più elevato potrebbe portare.

Dettagli tecnici. • Nessuna modifica al capitale sociale autorizzato illimitato.
• Non saranno emesse frazioni di azioni; le partecipazioni saranno arrotondate per difetto alla quota intera più vicina.
• Tutte le opzioni, warrant e titoli convertibili in circolazione saranno adeguati proporzionalmente.
• Gli azionisti con certificati riceveranno istruzioni da Continental Stock Transfer & Trust per lo scambio; i detentori in libro contabile saranno adeguati automaticamente.
• Il Consiglio potrà abbandonare il raggruppamento in qualsiasi momento prima del deposito, anche se approvato dagli azionisti.

Rischi. Il management non può garantire che il raggruppamento aumenterà o manterrà il prezzo delle azioni sopra $1,00, né prevenire future esclusioni per altre violazioni delle regole. Un prezzo più alto potrebbe ridurre il volume degli scambi e l'arrotondamento per difetto delle frazioni comporta una lieve diluizione per gli azionisti interessati.

Il Consiglio raccomanda all’unanimità di votare FAVOREVOLMENTE su entrambe le proposte.

DevvStream Corp. ha convocado una reunión especial virtual de accionistas para las 8:00 a.m. PT del 28 de julio de 2025 para votar dos asuntos clave.

  • Propuesta 1 – Agrupamiento inverso de acciones: Autoriza al Consejo, en cualquier momento dentro de un año tras la aprobación, a presentar Artículos de Enmienda para implementar una consolidación inversa de las acciones comunes en circulación con una proporción entre 1 por 5 y 1 por 50. La proporción exacta será seleccionada por el Consejo y anunciada públicamente.
  • Propuesta 2 – Aplazamiento: Permite uno o más aplazamientos de la reunión para solicitar más poderes si los votos son insuficientes para aprobar la Propuesta 1.

La fecha de registro es el 23 de junio de 2025; en esa fecha había 33,461,734 acciones comunes en circulación. El quórum requiere que un tercio de esas acciones (11,153,911) estén presentes en línea o por poder. La Propuesta 1 necesita la aprobación de al menos dos tercios de los votos emitidos; la Propuesta 2 requiere mayoría simple.

Justificación. El objetivo principal es recuperar o mantener el cumplimiento con la regla del Nasdaq Capital Market del precio mínimo de oferta de $1.00, después de que DevvStream recibiera un aviso de incumplimiento el 12 de febrero de 2025. La Compañía tiene hasta el 13 de agosto de 2025 para corregir la deficiencia. La gerencia también menciona posibles mejoras en la liquidez, cobertura de analistas y propiedad institucional que un precio de acción más alto podría aportar.

Mecánica clave. • No hay cambios en el capital social autorizado ilimitado.
• No se emitirán acciones fraccionarias; las tenencias se redondearán hacia abajo al número entero más cercano.
• Todas las opciones, warrants y valores convertibles en circulación se ajustarán proporcionalmente.
• Los accionistas con certificados recibirán instrucciones de Continental Stock Transfer & Trust para canjearlos; los titulares en registro electrónico serán ajustados automáticamente.
• El Consejo puede abandonar la consolidación en cualquier momento antes de presentar la solicitud, incluso si los accionistas la aprueban.

Riesgos. La gerencia no puede garantizar que la consolidación elevará o mantendrá el precio de la acción por encima de $1.00, ni evitar futuras exclusiones por otras infracciones de las reglas. Un precio más alto puede reducir el volumen de negociación, y el redondeo hacia abajo de fracciones diluye ligeramente a los accionistas afectados.

El Consejo recomienda unánimemente votar A FAVOR de ambas propuestas.

DevvStream Corp.는 2025년 7월 28일 오전 8시 PT에 주주들을 위한 가상 임시 총회를 소집하여 두 가지 주요 안건에 대해 투표할 예정입니다.

  • 안건 1 – 역병합(Reverse Stock Split): 승인 후 1년 이내 언제든지 이사회가 발행 주식을 1대 5에서 1대 50 사이의 비율로 역병합하는 정관 수정안을 제출할 수 있도록 권한을 부여합니다. 정확한 비율은 이사회가 결정하고 공개 발표할 예정입니다.
  • 안건 2 – 연기: 안건 1의 통과를 위한 투표가 부족할 경우 추가 위임장을 확보하기 위해 회의를 한 번 이상 연기할 수 있도록 허용합니다.

기록 기준일은 2025년 6월 23일이며, 이 날짜에 33,461,734주의 보통주가 발행되어 있습니다. 정족수는 이 중 3분의 1인 11,153,911주가 온라인 또는 위임장으로 참석해야 합니다. 안건 1은 투표 수의 3분의 2 이상의 승인이 필요하며, 안건 2는 단순 과반수로 통과됩니다.

배경. 주요 목적은 나스닥 캐피털 마켓 최소 입찰가 $1.00 규정을 준수하거나 재준수하는 것으로, DevvStream은 2025년 2월 12일에 비준수 통지를 받았습니다. 회사는 2025년 8월 13일까지 결함을 해소해야 합니다. 경영진은 또한 주가 상승이 유동성, 애널리스트 커버리지, 기관 소유권 개선에 기여할 수 있다고 언급합니다.

주요 사항. • 무제한 승인 발행 주식 자본에는 변화 없음.
• 소수 주식은 발행하지 않으며, 보유 주식은 가장 가까운 정수로 내림 처리됩니다.
• 모든 미결제 옵션, 워런트 및 전환 증권은 비례 조정됩니다.
• 증서 보유 주주는 Continental Stock Transfer & Trust로부터 교환 지침을 받으며, 명부 보유 주주는 자동으로 조정됩니다.
• 이사회는 주주 승인 여부와 관계없이 제출 전 언제든지 병합을 철회할 수 있습니다.

위험. 경영진은 병합이 주가를 $1.00 이상으로 올리거나 유지할 것을 보장하지 않으며, 다른 규정 위반으로 인한 상장폐지를 방지할 수도 없습니다. 주가 상승은 거래량 감소를 초래할 수 있고, 내림 처리된 소수 주식은 해당 주주에게 약간의 희석 효과를 가져옵니다.

이사회는 두 안건 모두에 대해 만장일치로 찬성 투표를 권고합니다.

DevvStream Corp. a convoqué une assemblée générale extraordinaire virtuelle des actionnaires pour 8h00 PT le 28 juillet 2025 afin de voter sur deux points clés.

  • Proposition 1 – Fractionnement inversé des actions : Autorise le Conseil d'administration, à tout moment dans l'année suivant l'approbation, à déposer des articles modificatifs pour mettre en œuvre un regroupement inversé des actions ordinaires en circulation selon un ratio compris entre 1 pour 5 et 1 pour 50. Le ratio exact sera choisi par le Conseil et annoncé publiquement.
  • Proposition 2 – Ajournement : Permet un ou plusieurs ajournements de la réunion pour solliciter des procurations supplémentaires si les votes sont insuffisants pour approuver la Proposition 1.

La date d'enregistrement est le 23 juin 2025 ; à cette date, 33 461 734 actions ordinaires étaient en circulation. Le quorum requiert la présence en ligne ou par procuration d'au moins un tiers de ces actions (11 153 911). La Proposition 1 nécessite l'approbation des détenteurs d'au moins deux tiers des votes exprimés ; la Proposition 2 requiert une majorité simple.

Motivation. L'objectif principal est de retrouver ou de maintenir la conformité avec la règle du Nasdaq Capital Market sur le prix minimum d'offre de 1,00 $, après que DevvStream a reçu un avis de non-conformité le 12 février 2025. La société dispose jusqu'au 13 août 2025 pour remédier à ce manquement. La direction évoque également des améliorations potentielles de la liquidité, de la couverture des analystes et de la propriété institutionnelle qu'un prix de l'action plus élevé pourrait apporter.

Mécanismes clés. • Aucun changement au capital social autorisé illimité.
• Aucune action fractionnaire ne sera émise ; les avoirs seront arrondis à la baisse à l'action entière la plus proche.
• Toutes les options, bons de souscription et titres convertibles en circulation seront ajustés proportionnellement.
• Les actionnaires détenant des certificats recevront des instructions de Continental Stock Transfer & Trust pour les échanger ; les détenteurs en inscription comptable seront ajustés automatiquement.
• Le Conseil peut abandonner le regroupement à tout moment avant le dépôt, même si les actionnaires l'approuvent.

Risques. La direction ne peut garantir que le regroupement fera monter ou maintiendra le cours de l’action au-dessus de 1,00 $, ni empêcher une radiation future pour d’autres violations des règles. Un cours plus élevé peut réduire le volume des échanges, et l’arrondi à la baisse des fractions dilue légèrement les actionnaires concernés.

Le Conseil recommande à l’unanimité de voter POUR les deux propositions.

Die DevvStream Corp. hat eine virtuelle außerordentliche Hauptversammlung der Aktionäre für 8:00 Uhr PT am 28. Juli 2025 einberufen, um über zwei wichtige Punkte abzustimmen.

  • Vorschlag 1 – Reverse Stock Split: Ermächtigt den Vorstand, innerhalb eines Jahres nach Genehmigung eine Satzungsänderung einzureichen, um eine Zusammenlegung der ausstehenden Stammaktien im Verhältnis zwischen 1 zu 5 und 1 zu 50 durchzuführen. Das genaue Verhältnis wird vom Vorstand festgelegt und öffentlich bekanntgegeben.
  • Vorschlag 2 – Vertagung: Ermöglicht eine oder mehrere Vertagungen der Versammlung, um zusätzliche Vollmachten einzuholen, falls die Stimmen nicht ausreichen, um Vorschlag 1 zu verabschieden.

Stichtag ist der 23. Juni 2025; an diesem Tag waren 33.461.734 Stammaktien ausstehend. Für das Quorum muss ein Drittel dieser Aktien (11.153.911) online oder per Vollmacht anwesend sein. Vorschlag 1 benötigt die Zustimmung von mindestens zwei Dritteln der abgegebenen Stimmen; Vorschlag 2 erfordert eine einfache Mehrheit.

Begründung. Das Hauptziel ist die Wiederherstellung oder Aufrechterhaltung der Einhaltung der Nasdaq Capital Market Mindestgebotspreisregel von 1,00 $, nachdem DevvStream am 12. Februar 2025 eine Mitteilung über die Nichteinhaltung erhalten hat. Das Unternehmen hat bis zum 13. August 2025 Zeit, den Mangel zu beheben. Das Management verweist auch auf mögliche Verbesserungen bei Liquidität, Analystenabdeckung und institutionellem Besitz, die ein höherer Aktienkurs bringen könnte.

Wesentliche Details. • Keine Änderung des unbegrenzten genehmigten Aktienkapitals.
• Es werden keine Bruchteile von Aktien ausgegeben; Bestände werden abgerundet auf die nächste ganze Aktie.
• Alle ausstehenden Optionen, Warrants und wandelbaren Wertpapiere werden proportional angepasst.
• Aktionäre mit Zertifikaten erhalten Anweisungen von Continental Stock Transfer & Trust zum Umtausch; Buchhalterische Inhaber werden automatisch angepasst.
• Der Vorstand kann die Zusammenlegung jederzeit vor Einreichung zurückziehen, auch wenn die Aktionäre zustimmen.

Risiken. Das Management kann nicht garantieren, dass die Zusammenlegung den Aktienkurs über 1,00 $ hebt oder hält, noch zukünftige Delistings wegen anderer Regelverstöße verhindert. Ein höherer Kurs kann das Handelsvolumen reduzieren, und das Abrunden von Bruchteilen führt zu einer leichten Verwässerung der betroffenen Aktionäre.

Der Vorstand empfiehlt einstimmig, beiden Vorschlägen ZUZUSTIMMEN.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 27, 2025

 

ASCENT SOLAR TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-32919   20-3672603
(State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)

 

12300 Grant Street  
Thornton, CO 80241
(Address of principal executive offices)   (Zip Code)

 

  (720) 872-5000  
  (Registrant’s telephone number, including area code)  

 

Not Applicable 

(Former name, or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0001 per share   ASTI    Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 

 
 

Item 1.01. Entry into a Material Definitive Agreement.

 

Securities Purchase Agreement

 

On June 27, 2025, Ascent Solar Technologies, Inc. (the “Company”) commenced a best efforts public offering (the “Offering”) of an aggregate of (i) 507,000 shares (the “Shares”) of common stock, par value $0.0001 per share (“Common Stock”), of the Company, (ii) 493,000 pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 493,000 shares of Common Stock (the “Pre-Funded Warrant Shares”), and (iii) 1,000,000 warrants to purchase up to 1,000,000 shares of Common Stock (“Warrants”). Each Share or Pre-Funded Warrant was sold together with one Warrant to purchase one share of Common Stock. The combined offering price for each Share and Warrant was $2.00, and the combined offering price for each Pre-Funded Warrant and accompanying Warrant was $1.9999. The Pre-Funded Warrants will have an exercise price of $0.0001 per share, be exercisable immediately and will expire when exercised in full. Each Warrant will have an exercise price of $2.00 per share and will be immediately exercisable. The Warrants will expire on the five-year anniversary of the date of issuance.


The net proceeds of the Offering, after deducting the fees and expenses of the Placement Agent (as defined below), described in more detail below, and other offering expenses payable by the Company, but excluding the net proceeds, if any, from the exercise of the Warrants, is expected to be approximately $1.6 million. The Company intends to use the net proceeds from this offering for working capital, product development activities, general and administrative expenses and other general corporate purposes.   The Offering closed on June 30, 2025.

 

In connection with the Offering, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors. Pursuant to the Purchase Agreement, the Company agreed not to issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for shares of Common Stock or file any registration statement or prospectus, or any amendment or supplement thereto for 90 days after the closing date of the Offering, subject to certain exceptions. In addition, the Company has agreed not to effect or enter into an agreement to effect any issuance of Common Stock or any securities convertible into or exercisable or exchangeable for shares of Common Stock involving a variable rate transaction (as defined in the Purchase Agreement) until the one-year anniversary of the closing date of the Offering, subject to certain exceptions.

 

The Purchase Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the purchasers, including for liabilities arising under the Securities Act of 1933, as amended (the “Securities Act”), other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Purchase Agreement were made only for the purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement and may be subject to limitations agreed upon by the contracting parties. A holder will not have the right to exercise any portion of the Warrants or Pre-Funded Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99% or 9.99%, as applicable, of the number of shares of Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Warrants or the Pre-Funded Warrants, respectively.

 

Pursuant to an engagement agreement (as amended, the “Engagement Agreement”) with H.C. Wainwright & Co., LLC (the “Placement Agent”), the Company agreed to pay the Placement Agent in connection with the Offering (i) a cash fee equal to 7.0% of the aggregate gross proceeds received in the Offering, (ii) a management fee equal to 1.0% of the aggregate gross proceeds received in the Offering, and (iii) reimbursement of up to $100,000 for legal fees and expenses and other out of pocket expenses. Also pursuant to the Engagement Agreement, the Company, in connection with the Offering, agreed to issue to the Placement Agent or its designees warrants (the “Placement Agent Warrants”) to purchase up to an aggregate of 70,000 shares of Common Stock (the “Placement Agent Warrant Shares”). The Placement Agent Warrants will have an exercise price of $2.50 per share (which represents 125% of the combined public offering price per Share and accompanying Warrants), will expire on June 27, 2030 and will be exercisable upon issuance.

The Shares, the Pre-Funded Warrants, the Pre-Funded Warrant Shares, the Warrants, the Warrant Shares, the Placement Agent Warrants and the Placement Agent Warrant Shares were offered by the Company pursuant to a Registration Statement on Form S-1 (the "Registration Statement") filed with the Securities and Exchange Commission (the “SEC”) on June 25, 2025, under the Securities Act (File No. 333-288300), and declared effective by the SEC on June 27, 2025.

 

The foregoing descriptions of the Purchase Agreement, the Warrants, the Pre-Funded Warrants and the Placement Agent Warrants are not complete and are qualified in their entirety by reference to the full text of the form of Purchase Agreement, the form of Warrant, the form of Pre-Funded Warrant, and the form of Placement Agent Warrant, copies of which are filed as Exhibits 10.1, 4.1, 4.2 and 4.3, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

 

This Current Report on Form 8-K does not constitute an offer to sell any securities or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

 
 

Item 8.01 Other Events.

 

Press Release

 

On June 27, 2025, the Company issued a press release announcing the pricing of the Offering. A copy of such press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.

 

Item 9.01 Financial Statements and Exhibits.

 

       
(d) Exhibits    
 

 

Exhibit

Number

  Description
       
  4.1   Form of Warrant
  4.2   Form of Pre-Funded Warrant
  4.3   Form of Placement Agent Warrant
  10.1   Form of Securities Purchase Agreement
  99.1   Press Release, dated June 27, 2025
  104   Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document

 

 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 
        ASCENT SOLAR TECHNOLOGIES, INC.
       
June 30, 2025       By:   /s/ Jin Jo
                Name: Jin Jo
                Title: Chief Financial Officer

 

 

 

 

FAQ

Why is DevvStream (DEVS) proposing a reverse stock split?

To regain compliance with Nasdaq’s $1.00 minimum bid rule after a deficiency notice on February 12 2025 and to improve share liquidity.

What reverse split ratios are being authorized?

Any ratio between 1-for-5 and 1-for-50; the exact ratio will be chosen later by the Board.

Will the number of authorized DEVS shares change after the split?

No. The Company will still have an unlimited number of authorized common and preferred shares.

How will fractional shares be handled?

Fractional entitlements will be rounded down to the nearest whole share; no cash will be paid for fractions.

What vote is needed for the reverse split to pass?

Approval from at least two-thirds of votes cast at the July 28 2025 special meeting.

When is the record date for voting eligibility?

June 23 2025.
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