On October 28, 2024, Focus Impact Acquisition Company (the "Company" or "FIAC") received a notice (the "Delisting Notice") from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that Nasdaq has determined to delist FIAC's securities from Nasdaq and will suspend trading in those securities effective at the open of business on November 4, 2024. Nasdaq reached its decision pursuant to Nasdaq IM-5101-2 because FIAC did not complete one or more business combinations within 36 months of the effectiveness of its initial public offering registration statement.
Following the suspension of trading on Nasdaq, FIAC's Units, shares of Class A common stock and redeemable warrants will be eligible to trade on the OTC Pink Marketplace. Nasdaq will complete the delisting by filing a Form 25-NSE with the U.S. Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on Nasdaq.
Notwithstanding the delisting of FIAC's securities from Nasdaq, it remains the intention of FIAC to continue to pursue the previously disclosed proposed business combination (the "Business Combination") with DevvStream Holdings Inc. ("DevvStream"), as well as the listing of the combined company on Nasdaq.