Focus Impact Acquisition to be Delisted from Nasdaq, Pursues Business Combination with DevvStream

Focus Impact Acquisition Corp. (NASDAQ: FIACU) recently received a notice from Nasdaq stating that the company’s securities will be delisted from the exchange and trading will be suspended starting from November 4, 2024. This decision was made as FIAC did not meet the requirement of completing one or more business combinations within 36 months of its initial public offering registration statement’s effectiveness.

Following the delisting from Nasdaq, FIAC’s Units, shares of Class A common stock, and redeemable warrants will be eligible for trading on the OTC Pink Marketplace. Nasdaq will finalize the delisting by submitting a Form 25-NSE to the U.S. Securities and Exchange Commission (SEC), removing the company’s securities from listing and registration on Nasdaq.

Despite the upcoming delisting, Focus Impact Acquisition remains committed to pursuing the previously announced business combination with DevvStream Holdings Inc., aiming to list the combined entity on Nasdaq.

On October 31, 2024, FIAC held a special meeting of stockholders, where an amendment to the company’s amended and restated certificate of incorporation was approved. This amendment extends the deadline for FIAC to consummate a business combination until May 1, 2025, providing an additional six months beyond the previous termination date.

Over 77% of the voting power of FIAC’s Common Stock supported the Extension Amendment Proposal during the meeting. Additionally, shareholders who held Class A Common Stock had the option to redeem their shares for cash at a redemption price of around $11.21 per share.

Investors and stakeholders should note that forward-looking statements are inherent in this announcement, subject to risks and uncertainties that could affect actual results. FIAC and DevvStream are actively working towards the anticipated Business Combination, adapting to evolving conditions and regulations.

This information was shared as part of a current report filed with the SEC on November 1, 2024, by Focus Impact Acquisition Corp. Interested parties are advised to carefully review all reports filed by FIAC and DevvStream with the SEC and Canadian securities regulatory authorities for further insights and updates.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Focus Impact Acquisition’s 8K filing here.

About Focus Impact Acquisition

Focus Impact Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses operating in education technology, technology-enabled manufacturing and services, and financial and healthcare technology sectors.