---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-031257"
form_type: "8-K"
ticker: "NOTE"
cik: "0001823466"
company_name: "FiscalNote Holdings, Inc."
filed_at: "2023-07-03T23:59:59+00:00"
generated_at: "2026-06-13T13:24:53.631291+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FiscalNote exchanges 5.88M shares for $46.8M convertible note, matures 2028, 7.5% interest

## Summary
- Investor returns 5,881,723 Class A shares for cancellation; company issues $46.79M subordinated convertible note due July 2028.
- Note bears 7.50% annual interest; first year PIK, thereafter cash or shares at company's option.
- Conversion price includes weighted-average anti-dilution protection; company may redeem after 24 months if stock price exceeds 120% of conversion price.
- Mutual release of all claims related to the prior note and its conversion.
- Issuance exempt from registration under Securities Act Sections 4(a)(2) and 3(a)(9).

## SEC filing metadata
- accession: 0000950170-23-031257
- form_type: 8-K
- ticker: NOTE
- cik: 0001823466
- company_name: FiscalNote Holdings, Inc.
- filed_at: 2023-07-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823466/000095017023031257/0000950170-23-031257-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823466/000095017023031257/note-20230630.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-031257
- JSON: https://secwatch.observer/filing/0000950170-23-031257.json
- Plain text: https://secwatch.observer/filing/0000950170-23-031257.txt

## Key facts
- Debt Financings
  FiscalNote Holdings, Inc. incurred convertible notes of $46,793,888.70 with GPO FN Noteholder LLC at 7.50% per annum maturing July 3, 2028.
  - Instrument: convertible notes
  - Principal: $46,793,888.70
  - Counterparty: GPO FN Noteholder LLC
  - Rate: 7.50% per annum
  - Maturity: July 3, 2028
  - Event: incurrence
  source text: the Company will issue to the Investor a subordinated convertible promissory note in an initial principal amount of $46,793,888.70 (the “New Note”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823466/000095017023031257/0000950170-23-031257-index.htm
- Material Agreements
  FiscalNote Holdings, Inc. entered into Exchange and Settlement Agreement with GPO FN Noteholder LLC valued at $46,793,888.70 (effective 2023-06-30).
  - Action: entry
  - Agreement: settlement
  - Counterparty: GPO FN Noteholder LLC
  - Value: $46,793,888.70
  - Effective: 2023-06-30
  source text: On June 30, 2023 (the “Subscription Date”), FiscalNote Holdings, Inc. (the “Company”) entered into an Exchange and Settlement Agreement (the “Exchange and Settlement Agreement”) with GPO FN Noteholder LLC (the “Investor”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823466/000095017023031257/0000950170-23-031257-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.