FiscalNote (NYSE:NOTE), a leading AI-driven enterprise SaaS company that delivers market intelligence and data insights, today announced it has filed an amendment to the resale registration statement on Form S-1 (the “Registration Statement”) that the Company previously filed with the U.S. Securities & Exchange Commission (the “SEC”) on August 26, 2022.
The Company amended the Registration Statement to respond to comments from the SEC staff in connection with its ordinary review process. Today’s amendment filing does not register a new issuance of securities in connection with any capital raising transaction. As the Company stated in its second quarter 2022 earnings release on August 15, 2022, the Company believes it has sufficient funding to support its organic growth and planned M&A opportunities following the Company’s successful business combination and subsequent listing on the New York Stock Exchange, which resulted in approximately $92 million of cash on the balance sheet, $150 million of gross debt, and $100 million of additional debt capacity as of June 30, 2022. Also, in the Company’s second quarter earnings release on August 15, 2022, the Company reiterated its belief that it remains on track to achieve positive Adjusted EBITDA within the fourth quarter of 2023.
The Registration Statement has been filed with the SEC but has not yet become effective. The securities covered by the Registration Statement may not be sold nor may offers to buy be accepted before the Registration Statement becomes effective. Sales by affiliates also are subject to the expiration of applicable “lock-up” periods and other restrictions under applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction. The Registration Statement and preliminary prospectus therein may be accessed through the SEC’s website at www.sec.gov.
