Duddell Street Acquisition Corp. has finalized its business combination agreement with FiscalNote Holdings, Inc., a press release reported.
"We are pleased to complete our business combination with FiscalNote, and we are very excited about FiscalNote's future as both a market leader and category creator," Manoj Jain, CEO of Duddell Street, and co-chief investment officer of Maso Capital, said. "FiscalNote's exceptional track record of organic and inorganic growth – powered by its product innovation and strategic M&A plan – will enable the company to further disrupt and revolutionize the marketplace with its strategy of turning data and advisory-driven insights into action.”
In correlation with the agreement, FiscalNote's Class A common stock and warrants are scheduled to begin trading on the New York Exchange this week, starting Monday. They will be labeled “NOTE” and “NOTE WS.”
The transaction is supported by various advisors, including J.P. Morgan who acted as financial advisor to FiscalNote, Citi, BTIG, LLC, Chardan, Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, D.A. Davidson & Co., EF Hutton, division of Benchmark Investments, LLC, and Northland Securities, Inc., who acted as capital markets advisors to Duddell Street. Davis Polk & Wardwell LLP contributed as legal advisor to Duddell Street, while Paul Hastings LLP worked as legal advisor to FiscalNote. Shearman & Sterling LLP served as legal advisor to Citi and J.P. Morgan.
FiscalNote's co-founder, chairman and CEO, Tim Hwang will be tasked with ringing the NYSE Opening Bell at 9:30 a.m. ET, Thursday during the company’s public trading debut celebration, in the presence of various senior leaders and staff members.
"We are excited to enter the public markets following the successful conclusion of this transaction. A new chapter for FiscalNote is about to begin, and we could not be more enthusiastic about what's to come," Hwang said. "Becoming a public company will enhance and accelerate our growth strategy which super-serves our global customers with excellence through our world-class suite of results-oriented solutions. We remain focused on strengthening our ability to execute on near-and long-term organic and inorganic growth opportunities – with a special emphasis on the rapidly-expanding market of regulated industries of the future.”