DevvStream Corp. Amends Securities Purchase Agreement; $200K Payment

What Happened

• DevvStream Corp. (filed 8-K on Sept 24, 2026) entered a First Amendment dated Sept 21, 2026 to its June 30, 2026 Securities Purchase Agreement with EEME Energy SPV I LLC and Southern Energy Renewables, Inc.
• Under the Original SPA EEME agreed to buy $1,000,000 of common shares at $0.28683 per share (3,486,386 shares); EEME has paid only $161,000 to date. The Amendment preserves 561,308 shares for EEME (reflecting the $161,000 already funded) and cancels the remaining 2,925,078 shares from the original issuance.
• The Amendment requires EEME to pay an additional $200,000 by Sept 29, 2026. Upon receipt, DevvStream will issue 1,120,448 common shares to EEME at $0.1785 per share (85% of the 15-day VWAP). The Amendment also terminates any further funding obligations under the Original SPA. Previously, EEME had agreed to advance up to $5,000,000 and had funded $1.64 million (which DevvStream advanced to Southern).

Key Details

• Original SPA date: June 30, 2026; Amendment date: Sept 21, 2026.
• Original commitment: $1,000,000 at $0.28683/share → 3,486,386 shares; only $161,000 funded so far.
• Amendment action: 561,308 shares retained, 2,925,078 shares cancelled; new potential issuance of 1,120,448 shares at $0.1785/share for $200,000 due by Sept 29, 2026.
• Funding change: EEME committed up to $5,000,000 but had funded $1.64M; Amendment ends further funding obligations.

Why It Matters

• The Amendment materially changes the financing DevvStream expected: most of the originally planned share issuance is cancelled and further funding obligations under the Original SPA are terminated. That reduces the number of new shares that would have been issued under the original deal and limits future cash inflows from this investor unless the $200,000 payment is made.
• For investors, key facts to watch are whether EEME pays the $200,000 by Sept 29, 2026 (triggering the new share issuance) and how the cancelled vs. newly issued shares affect DevvStream’s outstanding share count and potential dilution. The company also will not receive the previously contemplated additional advances under the Original SPA, which could affect its near-term financing plans.