# EDGAR Filing Document

**Accession Number:** 0001854480
**File Stem:** 0001140361-25-044339
**Filing Date:** 2025-12
**Character Count:** 21436
**Document Hash:** 67581ce39f50f4e1457b0af666091185
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-044339.hdr.sgml**: 20251204

**ACCESSION NUMBER**: 0001140361-25-044339

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251204

**DATE AS OF CHANGE**: 20251204

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DevvStream Corp.
- **CENTRAL INDEX KEY:** 0001854480
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTORS, NEC [6799]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A0
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-286070
- **FILM NUMBER:** 251549232

**BUSINESS ADDRESS:**
- **STREET 1:** 2108 N ST., SUITE 4254
- **STREET 2:** SUITE 2800
- **CITY:** SACRAMENTO
- **STATE:** CA
- **ZIP:** 95816
- **BUSINESS PHONE:** 647-689-6041

**MAIL ADDRESS:**
- **STREET 1:** 2108 N ST., SUITE 4254
- **STREET 2:** SUITE 2800
- **CITY:** SACRAMENTO
- **STATE:** CA
- **ZIP:** 95816

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Focus Impact Acquisition Corp.
- **DATE OF NAME CHANGE:** 20210331

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#### Filed Pursuant to Rule 424(b)(3) and Rule 424(c)

#### Registration Statement No. 333-286070

#### December 4, 2025

#### PROSPECTUS SUPPLEMENT NO. 15

![](image0.jpg)

#### DEVVSTREAM CORP.

#### UP TO 26,419,091 COMMON SHARES

This prospectus supplement amends the prospectus dated March 25, 2025 (as amended and supplemented to date, the "Prospectus") of DevvStream Corp., a company existing under the Laws of the Province of Alberta, Canada (the "Company"), which forms a part of the Company's Registration Statement on Form S-1 (No. 333-286070). This prospectus supplement is being filed to update and supplement the information included or incorporated by reference in the Prospectus with the information contained in the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission (the "SEC") on December 4, 2025. This prospectus supplement should be read in conjunction with the Prospectus, which is to be delivered with this prospectus supplement.

Shares of our Common Shares are listed on the Nasdaq Stock Market LLC ("Nasdaq") under the symbol "DEVS". On December 3, 2025, the closing price of our Common Shares was $1.90.

**Investing in the Company's Common Shares involves risks. See "Risk Factors" beginning on page 9 of the Prospectus and under similar headings in any amendments or supplements to the Prospectus.**

**Neither the SEC nor any other regulatory body has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.**

#### The date of this Prospectus Supplement No. 15 is December 4, 2025.

#### <br>

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 4, 2025

#### DEVVSTREAM CORP. <br>
(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Alberta, Canada**<br>| **001-40977**<br>| **86-2433757**  |
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

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| | |
|:---|:---|
| **2108 N St., Suite 4254**<br> **Sacramento, California**<br> (Address of principal executive offices) | **95816**<br>(Zip Code) |

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#### <br>
(647) 689-6041

(Registrant's telephone number, including area code) <br>

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(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange on**<br> **which registered** |
| Common shares | DEVS | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 8.01.** | **Other Events.** |

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On December 4, 2025, DevvStream Corp. (the "**Company**") issued a press release announcing that Southern Energy Renewables Inc. ("**Southern**"), a U.S.-based producer of low-cost fuels made from biomass, with a flagship Louisiana project that plans to utilize regional wood-waste biomass to deliver green methanol and carbon-negative sustainable aviation fuel ("**SAF**"), announced that the Louisiana Community Development Authority ("**LCDA**") approved a resolution authorizing the issuance, subject to further approvals, of up to $402 million of Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Bonds in support of Southern's planned biomass-to-fuel facility in Louisiana. The Company and Southern previously announced a proposed business combination to form a new U.S.-domiciled, Nasdaq-listed company focused on producing low-cost, carbon-negative SAF and green methanol using domestic biomass, integrated carbon capture, and environmental-asset capabilities.

A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference, and the foregoing description of the press release is qualified in its entirety by reference to such exhibit.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](ef20060692_ex99-1.htm) | Press Release dated December 4, 2025. |
| 104 | Cover page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |

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#### SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Dated: December 4, 2025 |  |  |
|  | **DEVVSTREAM CORP.** | **DEVVSTREAM CORP.** |
|  | By: | <u>/s/ Sunny Trinh</u> |
|  | Name: | Sunny Trinh |
|  | Title: | Chief Executive Officer |

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## Exhibit 99.1

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**Exhibit 99.1**<br>

**** 

<br> #### Louisiana Community Development Authority Authorizes up to $402 Million in Revenue Bonds for Southern Energy Renewables' Louisiana Fuel Project

*Step strengthens Louisiana's role in U.S. energy leadership and advances project finance process for biomass-to-fuel facility*

**SACRAMENTO, California and NEW ORLEANS, Louisiana, December 4, 2025** — DevvStream Corp. (Nasdaq: DEVS) ("DevvStream"), a leading carbon management and environmental-asset monetization firm, and Southern Energy Renewables Inc. ("Southern"), a U.S.-based producer of low-cost fuels made from biomass, with a flagship Louisiana project that plans to utilize regional wood-waste biomass to deliver green methanol and carbon-negative sustainable aviation fuel ("SAF") at scale, today announced that the Louisiana Community Development Authority ("LCDA") has approved a resolution authorizing the issuance, subject to further approvals, of up to $402 million of Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Bonds in support of Southern's planned biomass-to-fuel facility in Louisiana.

The facility is designed to use regional wood-waste biomass and proven conversion technologies, together with integrated carbon capture, to produce methanol and carbon-negative SAF at commercial scale. By anchoring this investment in Louisiana, Southern aims to strengthen U.S. energy leadership with a "made in America" supply of advanced fuels that can serve both domestic and international markets, while supporting jobs and industrial activity in a state that has long been central to the nation's energy economy.

The LCDA approval represents an important milestone in the conventional project-finance process. It permits Southern, working through LCDA as a conduit issuer, to seek an allocation of "volume cap" from the Louisiana State Bond Commission in the same $402 million amount. The volume-cap request is currently scheduled for the week of December 15, 2025. At this time, no allocation of volume cap has been made; the final step is expected to be an Executive Order from the Governor of Louisiana, which is currently anticipated in January 2026. Until an Executive Order allocating volume cap is issued and bonds are actually sold, the LCDA approval does not represent committed funding, but Southern and DevvStream believe it does demonstrate meaningful progress toward a conventional U.S. project-finance structure for the planned biomass-to-fuel facility.

"We are grateful for the support we are receiving in Louisiana," said Jay Patel, Chief Executive Officer of Southern Energy Renewables. "The LCDA's authorization is an important milestone for our planned Louisiana facility and for our broader effort to produce advanced fuels here in the United States. Louisiana's combination of feedstock availability, logistics infrastructure, and an experienced energy workforce creates a strong platform for long-term competitiveness. This step also aligns with federal objectives to strengthen domestic energy security, expand U.S. industrial capacity, and support responsible decarbonization of hard-to-serve sectors."

"We believe that this is the kind of step investors want to see in U.S. project finance: conventional, process-driven, and de-risking," said Carl Stanton, Chairman of DevvStream. "It creates a potential non-recourse financing path to support scale while protecting equity value, subject to remaining approvals and a successful bond issuance."

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The revenue bonds contemplated under the LCDA resolution are expected to be limited obligations of the issuer payable solely from project-related revenues and other pledged security, and not from the general funds of the State of Louisiana. Final terms, including interest rates, maturities, security, and covenants, will be determined at the time of any bond issuance and remain subject to additional approvals, documentation, and market conditions.

Southern's Louisiana fuels project and the LCDA authorization complement <u>the previously announced business combination between DevvStream and Southern</u> to form a new U.S.-domiciled, Nasdaq-listed company focused on producing low-cost, carbon-negative SAF and green methanol using domestic biomass, integrated carbon capture, and environmental-asset capabilities.

#### Additional Information and Where to Find It
In connection with the proposed business combination transaction among DevvStream, Southern, and Sierra Merger Sub, Inc., DevvStream will prepare and file relevant materials with the Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 that will contain a proxy statement of DevvStream that also constitutes a prospectus (the "Proxy Statement/Prospectus"). A definitive Proxy Statement/Prospectus will be mailed to stockholders of DevvStream. DevvStream and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream's investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at <u>www.sec.gov.</u> Copies of the documents filed with the SEC by DevvStream will be available free of charge under the tab "Financials" on the "Investor Relations" page of DevvStream's website at <u>www.devvstream.com/investors/</u> or by contacting DevvStream's Investor Relations Department at <u>ir@devvstream.com</u><br>

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#### Participants in the Solicitation

DevvStream, Southern and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's stockholders in connection with the proposed transaction. Information regarding the directors and executive officers of DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025, and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.

#### No Offer or Solicitation

This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

#### Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act that involve substantial risks and uncertainties. All statements, other than historical facts, are forward-looking statements, including: statements regarding the expected timing and structure of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," or the negatives of these words or other similar terms or expressions that concern DevvStream's or Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, and expectations that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.

We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

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Important factors that could cause actual results to differ materially from such plans, estimates, or expectations include, among others: anticipated benefits of the transaction creating stockholder value or access to capital markets; the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the occurrence of any event that could give rise to termination of any of the documents related to the proposed transaction; the risk that shareholder litigation in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; the uncertainty of obtaining shareholder and regulatory approvals, including shareholder approval from both parties and listing of the combined company's common stock on Nasdaq; the uncertainty of DevvStream's capital requirements and cash runway, including receipt by DevvStream of any necessary financing; market acceptance of the combined company; risks associated with the business of the combined company, , the risk related to Southern's ability to obtain bond allocation from the Louisiana Community Development Authority in support of its flagship biomass-to-fuel facility and secure offtake agreements; general economic, financial, legal, political, and business conditions and other risks and uncertainties including those set forth in DevvStream's Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with SEC and Canadian securities regulatory authorities available on DevvStream's profile at <u>www.sedarplus.ca</u>.

These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the Proxy Statement/Prospectus that will be included in the registration statement on Form S-4 that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in registration statement on Form S-4 will be, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this communication.

Any forward-looking statements speak only as of the date of this communication. Neither DevvStream or Southern undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on DevvStream's website at <u>www.devvstream.com/investors/</u> should be deemed to constitute an update or re-affirmation of these statements as of any future date.

#### About DevvStream
DevvStream (Nasdaq: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates. Visit devvstream.com for more information.<br>

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#### About Southern Energy Renewables
Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals and products developer focused on advancing large-scale biomass-to-fuels projects. These projects are designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.

Visit southernenergyrenew.com for more information.

#### Contact
<u>DEVS@alpha-ir.com</u>

408.365.4348 <br>

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