M&A
confidence high
sentiment positive
materiality 0.75
FiscalNote to sell Dragonfly and Oxford Analytica to Factiva for $40M cash; amends credit agreement
FiscalNote Holdings, Inc.
- Sale of Dragonfly Eye and Oxford Analytica to Factiva Ltd. for $40M cash, subject to working capital adjustments.
- Proceeds of ~$27.14M will repay lenders; Credit Agreement Amendment increases liquidity covenant to $25M.
- Closing expected by end of Q1 2025, subject to Austrian competition clearance and other conditions.
- Escrow of $400K for indemnification; bundled contract escrow of $424K for potential contract losses.