DevvStream settles $10M note default for $1M after $2.6M collateral credit, clears merger

Filed June 8, 2026 · Period ending June 8, 2026 · ~1 min read

Key Changes

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  Lender Helena declared default on $10M senior note in May, claiming $4.5M owed. Settlement credits $2.6M in digital collateral and $295K in conversion shares, leaving $1M debt still convertible at default discount price.

  Item 1.01 verify on EDGAR →
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  Helena irrevocably consented to DevvStream's pending merger with XCF Global and Southern Energy Renewables, permanently waiving termination rights even if DevvStream defaults on settlement terms.

  Item 1.01 verify on EDGAR →
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  DevvStream must deliver shares for $295K conversion by June 8, 10 AM Eastern, representing immediate dilution. Remaining $1M debt can be converted over time at discounted prices.

  Item 1.01 verify on EDGAR →