Morrison Foerster represented DevvStream Holdings Inc. (“DevvStream”), a leading developer and manager of technology-based carbon credits and related sustainability solutions, in its business combination with Focus Impact Acquisition Corp., a special purpose acquisition company (SPAC) listed on NASDAQ. The implied enterprise value of DevvStream following the transaction is approximately $212.8 million.
DevvStream seeks to partner with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that improve energy efficiencies, and eliminate and reduce or sequester carbon emissions, through the use of carbon credits. DevvStream also helps these organizations meet their net zero goals by providing them access to high-quality carbon credits.
The MoFo deal team advising DevvStream was led by San Diego corporate partner Shai Kalansky, together with San Diego corporate associates Dustin McKenzie and Andrew Dixon. The wider team included New York corporate partner Omar Pringle and Denver capital markets of counsel Evan Leitch, Washington D.C. capital markets partner Justin Salon, Los Angeles tax partner Brian Radigan and New York executive compensation + ERISA partner Joshua Lerner.