FiscalNote announces 1-for-12 reverse stock split effective August 29

WASHINGTON - FiscalNote Holdings, Inc. (NYSE:NOTE), currently trading at $0.51 and down over 60% in the past year, announced Friday that its Board of Directors has approved a 1-for-12 reverse stock split of its Class A and Class B common stock, effective August 29, 2025. According to InvestingPro data, the company faces significant challenges with cash burn and debt management, factors likely influencing this corporate action.

The company’s Class A common stock will begin trading on the New York Stock Exchange on a reverse split-adjusted basis on September 2, 2025, under the existing symbol "NOTE." The new CUSIP number for the Class A common stock will be 337655 302. Despite challenging market conditions, the company maintains an impressive gross profit margin of 78.6%, though InvestingPro analysis indicates ongoing profitability concerns.

At the effective time of the reverse split, every 12 shares of issued common stock will be automatically reclassified into one new share. The reverse split will not change the number of authorized shares or the par value, which remains at $0.0001.

The split will proportionately reduce the number of shares issuable upon vesting of stock awards, exercise of options and warrants, or conversion of convertible securities. It will also increase the exercise price of outstanding stock options and warrants, and the conversion price of certain convertible securities.

FiscalNote’s outstanding public and private warrants will be adjusted to become exercisable for approximately 0.131 shares of Class A common stock at a per warrant exercise price of $11.50, resulting in an effective per share price of $87.82.

Stockholders who would receive fractional shares will instead receive cash equal to the proceeds from the sale of such fractional shares.

Continental Stock Transfer & Trust Company is acting as transfer agent for the reverse split. Registered stockholders are not required to take any action, while those owning shares via brokers will have their positions automatically adjusted.

Additional information about the reverse stock split is available in FiscalNote’s definitive information statement filed with the SEC on August 8, 2025, according to the company’s press release. For investors seeking deeper insights into FiscalNote’s financial health and future prospects, InvestingPro offers comprehensive analysis through its Pro Research Report, featuring detailed metrics, valuation analysis, and expert insights that go beyond public filings.

In other recent news, FiscalNote Holdings Inc. reported its second-quarter 2025 earnings, revealing that revenue exceeded expectations. The company achieved a revenue of $23.3 million, surpassing the anticipated $22.83 million. However, earnings per share (EPS) fell slightly short, posting -0.08 compared to the forecasted -0.06. Additionally, FiscalNote announced the completion of its debt refinancing transactions, restructuring its senior and most of its subordinated debt. This refinancing is expected to provide the company with a longer-term operational runway and increased flexibility for its growth strategy. Due to the timing of these transactions, FiscalNote will delay its Q2 filing, extending the deadline to August 18 to finalize necessary disclosures. These developments reflect the company’s ongoing efforts to manage its financial structure while pursuing growth objectives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.