Duddell Street Acquisition filed a preliminary proxy offering details of its proposed merger with FiscalNote Holdings, an AI-driven SaaS company that delivers legal and regulatory data and insights.
If approved, the deal would give the merged enterprise a pro forma market capitalization of approximately $1.3 billion.
Investors anchored by Maso Capital have committed to a $100 million PIPE. At closing, the transaction will provide approximately $275 million of gross proceeds to the combined company, consisting of approximately $175 million of cash held in the Duddell Street trust, with any redemptions backstopped by Maso Capital, as well as the PIPE.
Gross proceeds are expected to far exceed the minimum cash condition of $190 million. Read more.
