FiscalNote converts $1.6M in notes to equity, delays remaining conversion to June 30, 2024

FiscalNote Holdings, Inc.

Converted ~$1.6M principal of convertible notes into 3,003,268 shares of Class A common stock.
Remaining Notes cannot be converted until on or after June 30, 2024, per amendment.
Investor must return shares if sales proceeds exceed 150% of aggregate principal amount.
Company issued Fee Shares under AI Copilot Partnership Agreement concurrently with conversion.
Investor entered trading plan for shares; early termination forfeits additional shares.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FiscalNote Holdings, Inc. amended Agreement with EGT-East, LLC valued at approximately $1.6 million (effective 2024-04-11).

Action: amendment
Agreement: collaboration
Counterparty: EGT-East, LLC
Value: approximately $1.6 million
Effective: 2024-04-11

Exact text from the filing

On April 11, 2024, FiscalNote Holdings, Inc. (the “ Company ”) entered into a letter agreement (the “ Agreement ”) with EGT-East, LLC (the “ Investor ”) modifying certain provisions of the Senior Subordinated Convertible Promissory Notes made by the Company in favor of the Investor on each of December 8, 2023 and January 5, 2024 (the “ Notes ”) and that certain AI Copilot Partnership Agreement, dated as of December 8, 2023 (the “ Co-Pilot Agreement ”).

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294 material agreements filed in the last 30 days. Browse all material agreements →

FiscalNote Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-094774

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