Diligence memo · auto-generated · as of July 2, 2026
Devonian Acquisition Corp
Devonian Acquisition Corp looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Devonian Acquisition Corp operates in Environmental Services, based in PLYMOUTH MEETING.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Devonian Acquisition Corp has raised $14M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $12M on 2013-03-11.
Most recent recorded round closed around 2013-03-25.
Valuation (modeled)modeled
Provath models Devonian Acquisition Corp at approximately $47M (range $2.7M–$256M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.48× the median modeled value of Series A Environmental Services companies in 2013–2015 (16 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 0 months.
Last raise 13.3 yr ago; this sector typically re-raises about every 11 months.
Silent for over 3× the sector's normal cadence.
The last round was 5.5× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 79% of Environmental Services peers (242 compared).
Modeled value ranks above 67% of those peers.
Closest niche peers: Gwtt Holding Company, Llc, ProAct Services Corp, GreenHunter Resources, Inc., CES Holding Company, Inc., Kurion Inc.
Peoplefiled
1 named person on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.