FiscalNote (NOTE) gets extended forbearance on delisting-related subordinated debt defaults
Rhea-AI Filing Summary
FiscalNote Holdings, Inc. amended its existing forbearance agreements with GPO FN Noteholder, LLC and YA II PN, Ltd., which hold subordinated convertible debt. The creditors agreed to continue waiving defaults that arose when FiscalNote’s Class A common stock was delisted from the New York Stock Exchange and to forbear from enforcing related rights until July 21, 2026.
This extension temporarily stabilizes the company’s relationship with these subordinated creditors but underscores that delisting-related defaults remain outstanding and subject to creditor action after the forbearance period ends.
Positive
- None.
Negative
- Subordinated debt remains in default due to NYSE delisting, with creditors only temporarily waiving enforcement rights under forbearance agreements that currently extend to July 21, 2026.
Insights
FiscalNote extends creditor forbearance on delisting-related debt defaults.
FiscalNote amended forbearance agreements with subordinated creditors GPO and YA covering subordinated convertible debt. These creditors are waiving defaults tied to the NYSE delisting of the company’s Class A shares and are refraining from exercising default remedies until July 21, 2026.
This indicates ongoing covenant or event-of-default issues rather than resolution of the underlying problem. The forbearance is time-limited; after July 21, 2026, these creditors could exercise their rights unless further agreements or cures are reached, which may affect leverage negotiations and refinancing flexibility.
8-K Event Classification
Key Figures
Key Terms
forbearance agreements financial
subordinated convertible debt instruments financial
delisting financial
Subordinated Creditors financial
Emerging growth company regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
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| Item 8.01 | Other Events. |
On June 24, 2026, FiscalNote Holdings, Inc. (the “Company”) entered into letter agreements amending its forbearance agreements dated April 21, 2026, as amended, with each of GPO FN Noteholder, LLC (“GPO”) and YA II PN, Ltd. (“YA” and together with GPO, the “Subordinated Creditors”). Pursuant to the forbearance agreements, as amended, each Subordinated Creditor has agreed to waive defaults under the terms of subordinated convertible debt instruments issued to the Subordinated Creditors arising from the delisting of the Company’s Class A common stock from the New York Stock Exchange, and to forbear from exercising any rights relating to such defaults, until July 21, 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FiscalNote Holdings, Inc. | ||||||
| (Registrant) | ||||||
| June 24, 2026 | By | /s/ Jon Slabaugh | ||||
| Jon Slabaugh | ||||||
| Chief Financial Officer | ||||||