Duddell Street Acquisition said its shareholders voted in favor of the business combination with FiscalNote Holdings.
The SPAC said 92.5% of the votes cast were in favor of the deal.
The transaction is expected to close tomorrow, with FiscalNote stock and warrants to begin trading Aug. 1 on the NYSE under the ticker symbols NOTE and NOTE WS.
Neither the press release nor a subsequent 8-K filing mentioned redemptions, if any. However, Duddell Street shares traded above $10 up through the redemption deadline July 25.
If there were no redemptions, the transaction was expected to provide approximately $275 million of gross proceeds to the combined company. The deal would give the merged enterprise a pro forma market capitalization of approximately $1.3 billion. The transaction includes a bonus pool of 10 million shares for non-redeeming stockholders.
FiscalNote also has a commitment for a credit facility of up to $250 million that would come from Runway Growth Capital, ORIX Growth Capital, and Atalaya Capital Management.
FiscalNote is an AI-driven enterprise SaaS company that delivers legal and regulatory data and insights. Read more.
