FiscalNote divests FrontierView to Oxford Economics for up to $9.4M, updates FY2026 guidance

FiscalNote Holdings, Inc.

Equity sale closed Aug 27, 2026: $6.4M cash at close plus up to $3.0M earnout tied to ARR targets; $1.0M held in escrow.
Proceeds used to prepay $4.95M principal and $0.05M interest on MGG term loan; ~$0.6M transaction expenses.
FY2026 guidance updated to $74-76M revenue and $8-10M adjusted EBITDA, excluding FrontierView; core policy outlook unchanged.
Pro forma shows non-cash loss on disposal of $1.445M; FrontierView contributed $2.9M subscription revenue in H1 2026.
Prior sale of Oxford Analytica and Dragonfly for $40M (closed Mar 2025) also reflected in pro forma statements.

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