FiscalNote Holdings, Inc. agreed to acquire Duddell Street Acquisition Corp. (NasdaqCM:DSAC) in a reverse merger transaction on November 7, 2021. Current FiscalNote equity holders will roll 100% of their equity interests into the combined company and will retain approximately 76% ownership.

Upon closing, the combined company will operate under the FiscalNote name and trade on the Nasdaq under the ticker symbol "NOTE". The transaction is subject to (i) approval of the business combination by Duddell Street's and FiscalNote's shareholders, (ii) the concurrent PIPE transaction, (iii) U.S. Securities and Exchange Commission completes its review of the registration statement on Form S-4 and the proxy statement/prospectus that Duddell Street will file with the SEC, (iv) the receipt of certain regulatory approvals, and (v) approval by The Nasdaq Stock Market to list the securities of the combined company. The Boards of Directors of both FiscalNote and Duddell Street have each unanimously approved the transaction.

The shareholders meeting of Duddell Street is scheduled on July 27, 2022. As of July 23, 2022, the transaction is approved by shareholders of Duddell Street Acquisition Corp. The transaction is expected to be completed in the first quarter of 2022.

The transaction is expected to complete on July 29, 2022. J.P. Morgan Securities LLC acted as financial advisor to FiscalNote. Citigroup Global Markets Inc. and BTIG, LLC acted as capital markets advisors to Duddell Street.

Miranda So, James C. Lin, Sam Kelso, Adam Kaminsky, Frank J. Azzopardi, Alon Gurfinkel, Patrick S. Sinclair, and Paul D. Marquardt of Davis Polk & Wardwell LLP acted as legal advisor to Duddell Street while Brandon Bortner, Steve Camahort, Lucas Rachuba, Amy Lawrence and Eric Keller of Paul Hastings LLP is serving as legal advisor to FiscalNote. KYUNGWON (WON) LEE and LEO WONG of Shearman & Sterling LLP is serving as legal advisor to Citi and J.P. Morgan. Morrow & Co., LLC acted as information agent with a service fee of $30,000 to Duddell Street.

Grant Thornton LLP acted as due diligence provider to Duddell Street Acquisition Corp. Davis Polk & Wardwell LLP and Blackpeak (Holdings) Limited acted as Due Diligence Provider for Duddell Street Acquisition Corp. Mercer (Hong Kong) Limited acted as Due Diligence Provider for FiscalNote Holdings.