Focus Impact Shareholders Express Support For DevvStream Transaction

Shareholders of acquisition company Focus Impact Acquisition Corp. recently expressed their support for a proposed business combination with Canada-based environmental, social, and governance (ESG) company DevvStream.

The two companies have been working on an arrangement through which, given the fulfillment of certain criteria, Focus Impact will be redomiciled to Alberta, Canada, and DevvStream will become a wholly-owned subsidiary of Focus Impact.

This transaction would represent a major milestone in DevvStream’s development trajectory, turning it into the first publicly traded carbon streaming company on a major U.S. stock exchange.

DevvStream is a sustainability ambassador and leading co-developer of carbon credit projects, focused primarily on technology-based solutions. 

Set on a mission to advance projects that bring impactful environmental results, the company invests in large-scale avoidance, reduction, and removal offset initiatives, prioritizing technology-based approaches along with some nature-based ones.

These efforts by DevvStream align with the vision of Focus Impact, which strives to support socially forward companies through a private investment structure.

Having a dedicated acquisition branch, Focus Impact brings companies like DevvStream to the public market, accelerating their growth and extending the scale of their impact.

On September 11, DevvStream held its Annual General and Special Shareholder Meeting, where, in a vote on the business combination proposal with Focus Impact, shareholders expressed overwhelming support for the plan.

Read more: DevvStream Announces Multi-Year Agreement For The Sale Of Carbon Credits

As the transaction entered a phase of arranging closing conditions, it was pending approval by Focus Impact shareholders and a receipt of the final order to be issued by the Supreme Court of British Columbia.

At a meeting held on September 13, Focus Impact Acquisition Corp. shareholders voted in favor of the proposal, approving the outlined business combination with DevvStream. The complete results of the vote will be covered in a report on Form 8-K to be filed by Focus Impact with the U.S. Securities and Exchange Commission.

Relevant: ‘Being The First And Only Carbon Company On The NASDAQ Puts Us In A Leadership Position’ – Sunny Trinh, CEO of DevvStream