FiscalNote Will Trade on NYSE Under the Ticker Symbol
"NOTE" Upon the Closing of its Proposed Business Combination
with Duddell Street Acquisition
Corp.
WASHINGTON, April 21,
2022 /PRNewswire/ -- FiscalNote Holdings, Inc.,
("FiscalNote"), a leading AI-driven enterprise SaaS company that
delivers legal and regulatory data and insights, and Duddell Street
Acquisition Corp. ("Duddell Street") (Nasdaq: DSAC), a
publicly-traded special purpose acquisition company, today
announced their intent to list the Class A common stock of
FiscalNote Holdings, Inc. on the New York Stock Exchange ("NYSE")
upon the closing of their proposed business combination
transaction, expected in the second quarter of this year.
Upon the closing of the proposed transaction, Duddell Street
Acquisition Corp. will de-list from the Nasdaq, and the Class A
common stock of FiscalNote Holdings Inc. will begin trading on the
NYSE under the ticker symbol "NOTE". The listing will be subject to
the NYSE's final approval of the application by Duddell Street
Acquisition Corp. and FiscalNote to list the shares on the
NYSE.
"We are excited to announce our intent to list FiscalNote's
stock on the NYSE, and we are honored to join its remarkable roster
of globally known brands and industry-leading companies," said
Tim Hwang, CEO & Co-founder,
FiscalNote. "We believe our proposed transaction with Duddell
Street and listing on the NYSE will lower the company's cost of
capital and accelerate our ability to drive innovation, execute
strategically attractive and value accretive M&A, and enhance
our ability to turn data and insights into action for our
customers. This is an historic moment for our company, our people,
our customers, and our shareholders and marks the beginning of an
exciting journey of continued growth, expansion, and innovation for
FiscalNote."
"We are excited to welcome FiscalNote to the NYSE," said
Lynn Martin, President, NYSE Group.
"Given the company's focus on providing its customers with data and
insights to minimize risk and capitalize on opportunity, FiscalNote
will feel right at home among our community of innovators and
disruptors."
"The path to public markets is now one step closer as we reach a
key milestone with a home on the NYSE," said Manoj Jain, CEO of Duddell Street Acquisition
Corp., and Co-Chief Investment Officer of Maso Capital. "We look
forward to partnering with the NYSE and to further collaborations
as we execute the business plan and accelerate growth through the
platform."
Transaction Details
FiscalNote
previously announced plans to become a publicly-traded
company on November 8, 2021 through a
business combination agreement with Duddell Street Acquisition
Corp. (Nasdaq: DSAC). Completion of the proposed business
combination is subject to Duddell Street's registration statement
on Form S-4 (the "Registration Statement") being declared effective
by the Securities & Exchange Commission ("SEC"), the approval
of the proposed business combination by Duddell Street's
shareholders, and other customary closing conditions. The SEC is
continuing the regulatory review process in connection with the
Registration Statement. Once it is completed, the parties will seek
the required shareholder approvals and proceed to close the
proposed business combination, with a target closing date in Q2 of
this year.
About FiscalNote
FiscalNote is a leading global technology provider of legal
and policy data and insights. By combining AI capabilities, expert
analysis, and legislative, regulatory, and geopolitical data,
FiscalNote is reinventing the way that organizations minimize risk
and capitalize on opportunity. Home to CQ, Roll Call, Oxford
Analytica, and VoterVoice, FiscalNote empowers clients worldwide to
monitor, manage, and act on the issues that matter most to them. To
learn more about FiscalNote and its family of brands, visit
FiscalNote.com and follow @FiscalNote.
About Duddell Street Acquisition Corp.
Duddell Street
Acquisition Corp. was formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses. Duddell Street is sponsored by
Hong Kong-based hedge fund
Maso Capital. Since inception, Maso Capital has
invested in more than one thousand companies and situations across
multiple sectors and geographies. Leveraging its stature and
reputation in Hong Kong and its
experienced investment team, Maso Capital has had
investments in a number of TMT, healthcare,
fintech and consumer companies in the region. For more
information, please visit DSAC.co.
Contacts:
Media
FiscalNote
Nicholas Graham
press@fiscalnote.com
Investors
ICR, Inc. for FiscalNote
Sean Hannan
IR@fiscalnote.com
Duddell Street Acquisition Corp.
Sam Joshi
IR@masocapital.com
Additional Information and Where to Find It
In
connection with its proposed business combination with FiscalNote,
Duddell Street Acquisition Corp. (Nasdaq: DSAC) ("Duddell Street")
has filed relevant materials with the SEC, including the
Registration Statement, which includes a proxy statement/prospectus
of Duddell Street, and will file other documents regarding the
proposed business combination with the SEC. Duddell Street's
shareholders and other interested persons are advised to read the
preliminary proxy statement/prospectus and the amendments thereto
and, when available, the definitive proxy statement and documents
incorporated by reference therein filed in connection with the
proposed business combination, as these materials will contain
important information about FiscalNote, Duddell Street and the
proposed business combination. Promptly after the Registration
Statement is declared effective by the SEC, Duddell Street will
mail the definitive proxy statement/prospectus and a proxy card to
each shareholder entitled to vote at the meeting relating to the
approval of the business combination and other proposals set forth
in the proxy statement/prospectus. Before making any voting or
investment decision, investors and shareholders of Duddell Street
are urged to carefully read the entire registration statement and
proxy statement/prospectus, when they become available, and any
other relevant documents filed with the SEC, as well as any
amendments or supplements to these documents, because they will
contain important information about the proposed business
combination. The documents filed by Duddell Street with the SEC may
be obtained free of charge at the SEC's website at www.sec.gov.
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Participants in the Solicitation
Duddell Street and
its directors and executive officers may be deemed participants in
the solicitation of proxies from its shareholders with respect to
the business combination. A list of the names of those directors
and executive officers and a description of their interests in
Duddell Street will be included in the proxy statement/prospectus
for the proposed business combination when available at
www.sec.gov. Information about Duddell Street's directors and
executive officers and their ownership of Duddell Street shares is
set forth in Duddell Street's prospectus, dated October 28, 2020. Other information regarding the
interests of the participants in the proxy solicitation will be
included in the proxy statement/prospectus pertaining to the
proposed business combination when it becomes available. These
documents can be obtained free of charge from the source indicated
above.
FiscalNote and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from the
shareholders of Duddell Street in connection with the proposed
business combination. A list of the names of such directors and
executive officers and information regarding their interests in the
proposed business combination will be included in the proxy
statement/prospectus for the proposed business combination.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements may include, but are not limited to,
statements about future financial and operating results, plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as "will," "are expected to," "is anticipated,"
"estimated," "believe," "intend," "plan," "projection," "pro
forma," "outlook" or words of similar meaning. These
forward-looking statements include, but are not limited to,
statements regarding FiscalNote's industry and market sizes, future
opportunities for FiscalNote and Duddell Street, FiscalNote's
estimated future results and the proposed business combination
between Duddell Street and FiscalNote, including pro forma market
capitalization, pro forma revenue, the expected transaction and
ownership structure and the likelihood, timing and ability of the
parties to successfully consummate the proposed transaction. Such
forward-looking statements are based upon the current beliefs and
expectations of Duddell Street's and FiscalNote's managements and
are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
difficult to predict and generally beyond Duddell Street's or
FiscalNote's control. Actual results and the timing of events may
differ materially from the results anticipated in these
forward-looking statements. Except as required by law, Duddell
Street and FiscalNote do not undertake any obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise.
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SOURCE FiscalNote