secwatch.observer — SEC 8-K summary
======================================

Issuer:     FiscalNote Holdings, Inc. (NOTE)
CIK:        0001823466
Form:       8-K
Filed at:   2025-05-05T23:59:59+00:00
Accession:  0001193125-25-112092
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud

FiscalNote sells Australian subsidiary TimeBase for $6.5 million to Thomson Reuters
--------------------------------------------------------------------------------

- FiscalNote entered a definitive agreement to sell TimeBase to Thomson Reuters (TRI) for $6.5 million cash.
- Proceeds will retire approximately $3.2 million in principal and accrued interest under the credit agreement.
- Company reaffirms FY2025 guidance: total revenues $94-$100 million and adjusted EBITDA $10-$12 million.
- TimeBase contributed about $1.3 million of FiscalNote's $120.3 million total GAAP revenue for 2024.
- Credit agreement amendment modifies minimum ARR and EBITDA add-backs to reflect the sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823466/000119312525112092/0001193125-25-112092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823466/000119312525112092/d949734d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-112092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer