FiscalNote Holdings, Inc. (NOTE): debt financing — FiscalNote adds $6M term loan for Dragonfly Eye acquisition; issues warrant for 80K shares

FiscalNote Holdings, Inc.

Amendment to credit agreement provides $6.0M incremental term loan to retroactively fund the Dragonfly Eye Limited acquisition.
Lender receives warrant to purchase 80,000 shares of Class A common stock at $0.01 per share, expiring July 15, 2027.
Warrant issued under Regulation D exemption from Securities Act registration.
Loan and warrant terms are governed by Amendment No. 1 to the Second Amended and Restated Credit and Guaranty Agreement.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FiscalNote Holdings, Inc. incurred term loan of $6.0 million with one of the lenders.

Instrument: term loan
Principal: $6.0 million
Counterparty: one of the lenders
Event: incurrence

Exact text from the filing

Amendment No. 1 provides for the extension of an incremental term loan by one of the lenders to the Borrowers in the principal amount of $6.0 million, to be made on or around March 31, 2023, on the same terms as the existing term loans (the “Incremental Facility”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FiscalNote Holdings, Inc. amended Second Amended and Restated Credit and Guaranty Agreement with Runway Growth Finance Corp. valued at $6,000,000 incremental term loan, warrant to purchase Class A Common Stock (effective 2023-03-17).

Action: amendment
Agreement: credit facility
Counterparty: Runway Growth Finance Corp.
Value: $6,000,000 incremental term loan, warrant to purchase Class A Common Stock
Effective: 2023-03-17

Exact text from the filing

On March 17, 2023, FiscalNote, Inc., a wholly owned subsidiary of FiscalNote Holdings, Inc. (the “Company”), entered into Amendment No. 1 ( “Amendment No. 1”) to its Second Amended and Restated Credit and Guaranty Agreement dated July 29, 2022

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FiscalNote Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-008779

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