FiscalNote Announces Sale of Board.Org Community Engagement Platform for up to $103 Million in Total Consideration - Seite 2

Moelis & Company LLC served as exclusive financial advisor and Greenberg Traurig, LLP served as legal counsel to FiscalNote on this transaction.

Strengthens Balance Sheet

The proceeds of the transaction will significantly enhance the Company’s balance sheet. In addition to bringing approximately $15 million in cash to the balance sheet, the Company repaid $65.7 million of senior debt and amended its Credit Agreement with its lenders to, among other matters, extend principal repayments a full year to August 2026. Details of sources and uses related to the proceeds are noted in the Company's Investor Presentation dated March 12, which can be found here.

“In 2023 we reached the inflection point of Adjusted EBITDA profitability, rationalized our product portfolio, and aligned our sales and operations. Today, as we enter 2024, we have a stronger capital structure, product portfolio, go-to-market strategy, and organizational model to drive profitable growth. We are excited for the road ahead,” continued Hwang.

Separately, the Company announced its Q4 and FY2023 financial results. FiscalNote will hold an investor call today, Tuesday, March 12 at 10:00 am ET. To join To access this call, dial 1 [phone] for the U.S. or Canada, or 1 [phone] for callers outside the U.S. or Canada with the conference ID 1271923. A live webcast of the conference call will be accessible from the Investor Relations section of FiscalNote's website at https://investors.fiscalnote.com/, and a recording will be archived and accessible at https://investors.fiscalnote.com/. An audio replay of this conference call will also be available through March 26, 2024, by dialing 1 [phone] for the U.S. or Canada, or 1 [phone] for callers outside the U.S. or Canada, and entering 1271923.

About FiscalNote

FiscalNote (NYSE: NOTE) is a leader in policy and global intelligence. By uniquely combining data, technology, and insights, FiscalNote empowers customers to manage political and business risk. Since 2013, FiscalNote has pioneered technology that delivers critical insights and the tools to turn them into action. Home to CQ, FrontierView, Oxford Analytica, VoterVoice, and many other industry-leading brands, FiscalNote serves thousands of customers worldwide with global offices in North America, Europe, Asia, and Australia. To learn more about FiscalNote and its family of brands, visit FiscalNote.com and follow @FiscalNote.

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The FiscalNote Holdings Registered (A) Stock at the time of publication of the news with a fall of -6,00 % to 1,773EUR on Stuttgart stock exchange (12. März 2024, 08:07 Uhr).