FiscalNote Announces Retention of Financial Advisor by the Special Committee of the Board of Directors

Rhea-AI Summary

FiscalNote Holdings, Inc. (NYSE: NOTE) has established a Special Committee to evaluate potential go-private transactions, with CEO Tim Hwang filing an amendment to his Schedule 13D, confirming the condition of approval by the Special Committee and unaffiliated stockholders. Centerview Partners LLC has been retained as the independent financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP as the independent legal advisor.

WASHINGTON--(BUSINESS WIRE)-- FiscalNote Holdings, Inc. (NYSE: NOTE), a leading AI-driven enterprise SaaS technology provider of policy and global intelligence, previously announced that the Board of Directors has established a Special Committee (the "Special Committee") to evaluate any proposal it receives from the Company’s CEO and Co-founder, Tim Hwang, regarding a potential go-private transaction, as well as any other transaction proposals submitted to the Company. The Special Committee has now retained Centerview Partners LLC as its independent financial advisor.

Additionally, on November 17, 2023, Mr. Hwang filed an amendment to his Schedule 13D in which he confirmed he will condition any proposed go-private transaction on approval of the transaction by the Special Committee and a majority of the unaffiliated stockholders of the Company.

There can be no assurance that the foregoing will result in any transaction or any other strategic change or outcome, or as to the timing of any of the foregoing. The Company does not expect to comment further on this unless and until the Special Committee has reviewed and recommended and the Board has approved a specific and viable transaction, or until the Company determines further disclosure is appropriate or required by applicable securities laws.

As previously announced, the Special Committee has retained Skadden, Arps, Slate, Meagher & Flom LLP as its independent legal advisor.

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 approximately 5,000 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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Media

Nicholas Graham

FiscalNote

press@fiscalnote.com

Investor Relations

Sara Buda

FiscalNote

IR@fiscalnote.com

Source: FiscalNote

FAQ

What is the purpose of the Special Committee established by FiscalNote Holdings, Inc.?

The Special Committee is established to evaluate potential go-private transactions and other transaction proposals submitted to the company.

Who has been retained as the independent financial advisor for the Special Committee?

Centerview Partners LLC has been retained as the independent financial advisor for the Special Committee.

Who is the independent legal advisor for the Special Committee?

Skadden, Arps, Slate, Meagher & Flom LLP has been retained as the independent legal advisor for the Special Committee.

What did CEO Tim Hwang confirm in his amendment to Schedule 13D?

CEO Tim Hwang confirmed that any proposed go-private transaction is conditioned on approval by the Special Committee and a majority of the unaffiliated stockholders of the company.

Is there any assurance of a potential transaction resulting from these developments?

There is no assurance that the foregoing will result in any transaction or any other strategic change or outcome, or as to the timing of any of the foregoing.