[8-K] Focus Impact Acquisition Corp. Warrant Reports Material Event

Rhea-AI Filing Summary

DevvStream Corp. notified investors that it has regained compliance with Nasdaq's minimum bid price rule after its common shares closed above $1.00 for more than ten consecutive trading days. Nasdaq's Office of General Counsel confirmed the company is in compliance and its common shares remain listed and tradable on The Nasdaq Capital Market. The filing includes a reference to the interactive Inline XBRL cover page and is signed by the company's Chief Financial Officer.

Positive

• Nasdaq compliance restored, removing immediate risk of delisting and preserving listing status on The Nasdaq Capital Market
• Share price improvement evidenced by closes above $1.00 for more than ten consecutive trading days, meeting Nasdaq's required threshold
• Liquidity preserved for shareholders by maintaining active Nasdaq listing

Negative

• Underlying price weakness had previously triggered a staff determination for noncompliance, indicating prior market challenges
• Compliance depends on market price; without operational changes, the company could again face minimum bid price risk if the share price falls

Insights

Financial Analyst

TL;DR: Regaining compliance removes a delisting threat and stabilizes trading access, reducing near-term market risk.

DevvStream's return to compliance with the minimum bid price standard is a materially positive operational update because it eliminates the immediate risk of delisting due to a sustained sub-$1 closing price. Continued listing on The Nasdaq Capital Market preserves liquidity for existing shareholders and maintains the company's access to capital markets. The trigger for relief was the share price closing above $1.00 for the required consecutive trading days, as confirmed by Nasdaq counsel. While this resolves the short-term listing issue, investors should note the improvement hinges on sustained market pricing rather than structural changes to operations or fundamentals.

Corporate Governance Expert

TL;DR: Nasdaq confirmation of compliance mitigates regulatory pressure but ongoing governance focus is prudent.

Nasdaq's formal acknowledgment that DevvStream meets the minimum bid price requirement reduces compliance-related uncertainty and lessens the administrative burden associated with remediation processes. The filing's inclusion of an Inline XBRL cover page and the CFO signature follows standard disclosure protocols. Although Nasdaq has restored compliance status, continued disclosure discipline and investor communications are advisable to demonstrate sustained compliance and to address any shareholder concerns about past price weakness.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 22, 2025

DEVVSTREAM CORP.

(Exact name of registrant as specified in its charter)

Alberta, Canada	001-40977	86-2433757
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

2108 N St., Suite 4254 Sacramento, California (Address of principal executive offices) 95816
(Zip Code)

(647) 689-6041

(Registrant’s telephone number, including area code)

(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 shares	DEVS	The Nasdaq Stock Market LLC

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

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 8.01 - Other Events

On August 22, 2025, DevvStream Corp. (the “Company”) received a notice from The Nasdaq Stock Market, LLC (the “Nasdaq”) notifying the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) and that its common shares, with no par value (the “Common Shares”), continue to be listed and traded on The Nasdaq Capital Market.

As previously disclosed, the Company received a staff determination from Nasdaq stating that the bid price of its Common Shares had closed below the $1.00 minimum required by Nasdaq Listing Rule 5550(a)(2) for the prior 30 consecutive trading days (the “Minimum Bid Price Requirement”).

As of August 21, 2025, the Common Shares had closed above $1.00 per share for more than ten consecutive trading days. As a result, on August 22, 2025, the Company received a letter from the Nasdaq Office of General Counsel advising that the Company had regained compliance with the Minimum Bid Price Requirement, and that the Company was therefore in compliance with Nasdaq’s listing requirements.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit No.		Description
104		Cover page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURE

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.

Dated: August 25, 2025
	DEVVSTREAM CORP.
	By:	/s/ David Goertz
	Name:	David Goertz
	Title:	Chief Financial Officer

FAQ

What action did DevvStream take regarding Nasdaq listing compliance?

The company received notice that it has regained compliance with Nasdaq's minimum bid price rule after its shares closed above $1.00 for more than ten consecutive trading days.

Does DevvStream remain listed on Nasdaq?

Yes, Nasdaq's Office of General Counsel advised that DevvStream's common shares continue to be listed and traded on The Nasdaq Capital Market.

What caused the previous noncompliance?

Nasdaq staff previously determined that DevvStream's bid price had closed below the $1.00 minimum for the required consecutive trading-day period.

What documentation did the company file with this disclosure?

The filing references the Inline XBRL cover page as an exhibit and is signed by the company's Chief Financial Officer.

Is the regained compliance permanent?

The notice confirms current compliance based on the recent trading pattern; continued compliance depends on sustained share price performance above the minimum threshold.