DevvStream Corp. 8-K

What Happened

• DevvStream Corp. (DEVS) received a Nasdaq Hearings Panel determination on June 22, 2026 to suspend its common shares from trading on Nasdaq for noncompliance with Nasdaq Listing Rule 5550(a)(2) (the $1.00 minimum bid price) and failure to demonstrate compliance with Listing Rule 5550(b) (net income rule). Absent an immediate stay, trading is expected to be suspended at the open of business on June 24, 2026.
• The Company said it will appeal the Panel’s determination to the Nasdaq Listing and Hearing Review Council under Rule 5820(a), but an appeal will not stay the suspension. DevvStream expects the shares would be immediately eligible to quote on the OTC Markets’ Pink Limited Market under the symbol DEVS and plans to apply to the OTCQB.

Key Details

• Determination date: June 22, 2026; expected suspension effective at open on June 24, 2026 unless a stay is granted.
• Rules cited: Nasdaq Listing Rule 5550(a)(2) (minimum $1.00 bid price) and 5550(b) (net income requirement).
• Next steps: Company will appeal to the Nasdaq Listing Council; believes shares would be eligible for Pink Market quotation and will seek OTCQB listing.
• Company warns there is no assurance of successful appeal, reinstatement, or that a stable market will develop on OTC markets.

Why It Matters

• A Nasdaq suspension reduces visibility and can materially lower trading volume and price; trading on the Pink Market or OTCQB typically carries less liquidity and greater price volatility.
• Shareholders may find it harder to buy or sell shares, and there is uncertainty whether DevvStream can meet Nasdaq conditions to regain listing. The filing contains forward-looking statements and provides no guarantee of a successful appeal or relisting.