FiscalNote gets waiver on delisting debt defaults
FiscalNote Holdings, Inc. entered into letter agreements on July 22, 2026 with GPO FN Noteholder, LLC and YA II PN, Ltd. amending existing forbearance agreements dated April 21, 2026.
Rhea-AI Filing Summary
FiscalNote Holdings, Inc. entered into letter agreements on July 22, 2026 with GPO FN Noteholder, LLC and YA II PN, Ltd. amending existing forbearance agreements dated April 21, 2026. Under the amended arrangements, these subordinated creditors agree to waive defaults under subordinated convertible debt arising from the delisting of FiscalNote’s Class A common stock from the New York Stock Exchange and to forbear from exercising any rights related to those defaults through August 22, 2026.
Positive
- None.
Negative
- Delisting-triggered debt defaults waived only through August 22, 2026 Defaults under subordinated convertible debt caused by the delisting of Class A common stock from the New York Stock Exchange are waived and subject to forbearance only until August 22, 2026.
Insights
Analyzing...
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Forbearance period end date: August 22, 2026
Forbearance amendment date: July 22, 2026
Original forbearance agreement date: April 21, 2026
3 metrics
Forbearance period end date
August 22, 2026
End date through which subordinated creditors waive delisting-related defaults and forbear from enforcing related rights
Forbearance amendment date
July 22, 2026
Date FiscalNote entered letter agreements amending its forbearance agreements with GPO and YA
Original forbearance agreement date
April 21, 2026
Date of the original forbearance agreements later amended by the July 22, 2026 letters
Key Terms
forbearance agreements, subordinated convertible debt instruments, delisting
3 terms
forbearance agreements financial
"entered into letter agreements amending its forbearance agreements dated April 21, 2026"
A forbearance agreement is a temporary deal between a borrower and a lender in which the lender agrees not to pursue default remedies or to relax payment terms for a set period. It matters to investors because it can preserve short-term cash flow and avoid an immediate default, but it can also signal financial stress and delay recognition of credit losses, so it affects risk assessment and valuation.
subordinated convertible debt instruments financial
"under the terms of subordinated convertible debt instruments issued to the Subordinated Creditors"
delisting regulatory
"arising from the delisting of the Company’s Class A common stock from the New York Stock Exchange"
Delisting occurs when a company's stock is removed from a stock exchange and is no longer available for trading there. This can happen voluntarily or because the company no longer meets the exchange's requirements. For investors, delisting means they can no longer buy or sell shares of that company on the exchange, which may make it more difficult to sell their investments or affect the stock's value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did FiscalNote Holdings (NOTE) disclose about its debt defaults?
FiscalNote reported letter agreements with subordinated creditors under which they waive defaults on subordinated convertible debt tied to the delisting of Class A common stock and forbear from enforcing related rights through August 22, 2026.
Which creditors are involved in FiscalNote Holdings (NOTE) forbearance agreements?
The forbearance agreements involve GPO FN Noteholder, LLC and YA II PN, Ltd., described as subordinated creditors holding subordinated convertible debt instruments that experienced defaults following the delisting of FiscalNote’s Class A common stock from the New York Stock Exchange.
How long does the current forbearance for FiscalNote (NOTE) remain in effect?
The subordinated creditors have agreed to waive delisting-related defaults and forbear from exercising rights tied to those defaults until August 22, 2026. After that date, their rights under the subordinated convertible debt are not addressed in this disclosure.
What event caused FiscalNote Holdings (NOTE) to default under its subordinated convertible debt?
The defaults under the subordinated convertible debt instruments arose from the delisting of FiscalNote’s Class A common stock from the New York Stock Exchange. The subordinated creditors have agreed to waive these specific delisting-related defaults under the amended forbearance agreements.
When were FiscalNote’s (NOTE) forbearance agreements originally signed and how were they amended?
The original forbearance agreements with the subordinated creditors are dated April 21, 2026. On July 22, 2026, FiscalNote entered into letter agreements amending those forbearance agreements, confirming waivers of delisting-related defaults and forbearance through August 22, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
