FiscalNote Holdings, Inc. (NYSE:NOTE) acquired Dragonfly Eye Limited for £26.5 million on January 27, 2023. The aggregate purchase price consists of (i) £4.5 million pounds sterling in cash, (ii) £9.5 million pounds sterling in shares of the Company's Class A Common Stock, par value 0.0001 per share (“Common Stock”), with an agreed upon value of £5.00 pounds sterling per share, and (iii) £9.0 million pounds sterling in aggregate principal amount of subordinated convertible promissory notes. Additionally, the Sellers are eligible to receive an additional payment from the Company of up to £3.5 million pounds sterling based on the achievement by Dragonfly of U.S. GAAP revenue targets for 2023. The purchase price is subject to customary adjustment based on working capital adjustments. Dragonfly has 2022 unaudited revenue of approximately £6 million. The company is accretive to FiscalNote's Adjusted EBITDA upon acquisition. Cowen acted as exclusive financial advisor. Patrick Johnson, Kurt Ma, Emma Keen, Aaron Lang, Eliot Robinson, Morgan Bassett, Emma Howdle-Fuller,Richard Shaw, Benjamin Wheeler, Mark Brailsford, David Dennison, Joby Davies, Adam Lambert, Anthony George, Mateen Khan of Bryan Cave Leighton Paisner LLP acted as exclusive legal advisor to Dragonfly with respect to the transaction,

FiscalNote Holdings, Inc. (NYSE:NOTE) completed the acquisition of Dragonfly Eye Limited on January 27, 2023.