On November 9, 2023, Timothy Hwang announced that he held initial discussions with certain senior management members and the Board of Directors of FiscalNote Holdings, Inc regarding his interest in putting together a consortium to explore a potential go-private transaction. Hwang has not yet provided any specific proposal, and there can be no assurance that one will be made. As a result, the Board established a special committee of the Board to evaluate, together with its advisors, any proposal it receives from Hwang regarding such a transaction, as well as any other transaction proposals that may be submitted to the Company.

Hwang has confirmed that he will condition any proposed go-private transaction on approval of the transaction by the Special Committee and a majority of the unaffiliated stockholders of the Company.