Focus Impact Acquisition (Nasdaq: FIAC) today announced it has filed an S-4 outlining its proposed merger with DevvStream Holdings, a carbon credit project co-development and generation firm specializing in technology-based solutions.
The deal was announced in September at an implied enterprise value of $212.8 million.
The aggregate consideration to DevvStream stockholders will be newly issued shares of common stock in the combined company equal to $145 million, plus the aggregate exercise price of the outstanding DevvStream options and warrants, with each share of common stock of the merged company valued at $10.20 per share for the purposes of the transaction.
Based on the aggregate consideration, assuming full dilution and a U.S. dollar to Canadian dollar exchange rate of 1.34, this implies a deemed per share value of C$2.16 for DevvStream’s subordinate voting shares.
Focus Impact’s trust account stood at approximately $60 million as of June 30. Read more.
