# EDGAR Filing Document

**Accession Number:** 0001823466
**File Stem:** 0001193125-23-083716
**Filing Date:** 2023-3
**Character Count:** 19926
**Document Hash:** a6900af6effc9a47cb979f7a52c083cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-083716.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001193125-23-083716

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**EFFECTIVENESS DATE**: 20230329

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FiscalNote Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001823466
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270942
- **FILM NUMBER:** 23775650

**BUSINESS ADDRESS:**
- **STREET 1:** 1201 PENNSYLVANIA AVENUE NW, 6TH FLOOR
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20004
- **BUSINESS PHONE:** 202 793-5300

**MAIL ADDRESS:**
- **STREET 1:** 1201 PENNSYLVANIA AVENUE NW, 6TH FLOOR
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Duddell Street Acquisition Corp.
- **DATE OF NAME CHANGE:** 20200902

**As filed with the Securities and Exchange Commission on March 29, 2023** 

**Registration No. 333-** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

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## FISCALNOTE HOLDINGS, INC.
**(Exact name of registrant as specified in its charter)** 

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---

| | |
|:---|:---|
| **Delaware** | **88-3772307** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**1201 Pennsylvania Avenue, N.W.** 

**6<sup>th</sup> Floor** 

**Washington, D.C. 20004** 

**(Address of principal executive offices, including zip code)** 

**FiscalNote Holdings, Inc. 2022 Long-Term Incentive Plan** 

**FiscalNote Holdings, Inc. 2022 Employee Stock Purchase Plan** 

**(Full titles of the plans)** 

**Timothy Hwang** 

**1201 Pennsylvania Avenue, N.W.** 

**6<sup>th</sup> Floor** 

**Washington, D.C. 20004** 

**(Name and address of agent for service)** 

**(202) 793-5300** 

**(Telephone number, including area code, of agent for service)** 

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***Copy to:***

**Kevin L. Vold** 

**Polsinelli PC** 

**1401 Eye Street, NW, Suite 800** 

**Washington, DC 20005** 

**Telephone: (202) 783-3300** 

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☒ |

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

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**REGISTRATION OF ADDITIONAL SHARES** 

**PURSUANT TO GENERAL INSTRUCTION E** 

Pursuant to General Instruction E of Form S-8, FiscalNote Holdings, Inc. (the "***Registrant***") is filing this Registration Statement on Form S-8 with the Securities and Exchange Commission (the "***Commission***") to register (i) 3,693,767 additional shares of its Class A common stock, par value $0.0001 per share ("***Class A Common Stock***"), under the Registrant's 2022 Long-Term Incentive Plan (the "***2022 Plan***"), pursuant to the provisions of the 2022 Plan providing for an automatic increase in the number of shares of Class A Common Stock reserved and available for issuance under the 2022 Plan on January 1, 2023, and (ii) 1,231,255 additional shares of Class A Common Stock under the Registrant's 2022 Employee Stock Purchase Plan (the "***2022 ESPP***"), pursuant to the provisions of the 2022 ESPP providing for an automatic increase in the number of shares of Class A Common Stock reserved and available for issuance under the 2022 ESPP on January 1, 2023.

In accordance with General Instruction E to Form S-8, except for Item 8 "Exhibits," this Registration Statement incorporates by reference the contents of the Registrant's previous Registration Statement on Form S-8 (File No. 333-267753), filed with the Commission on October 5, 2022 (the "Prior Registration Statement"). The securities registered by this Registration Statement are of the same class as the other securities for which the Prior Registration Statement was filed.

**PART II** 

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| | |
|:---|:---|
| **ITEM 3.** | **INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE**  |

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The following documents filed by the Registrant with the Commission are incorporated by reference into this Registration Statement:

**(a)** The Registrant's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001823466/000095017023010339/note-20221231.htm) (File No 001-39672) for the fiscal year ended December 31, 2022, filed with the Commission on March 28, 2023.

**(b)** The Registrant's Current Reports on Form 8-K (File No 001-39672) filed with the SEC on each of [January 5, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1823466/000095017023000244/note-20230105.htm), January 27, 2023 (related to Items [1.01, 2.03, 3.02](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1823466/000095017023001285/note-20230127.htm) and [8.01](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1823466/000095017023001312/note-20230127.htm)), and [March 20, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1823466/000095017023008779/note-20230317.htm).

**(c)** The description of the Registrant's Common Stock which is contained in a registration statement on Form 8-A filed on [July 29, 2022](http://www.sec.gov/Archives/edgar/data/1823466/000110465922084153/tm2132074d77_8a12b.htm) (File No. 001-39672) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any amendment or report filed for the purpose of updating such description.

**(d)** All other reports and documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such reports and documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

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| | |
|:---|:---|
| **ITEM 8.** | **EXHIBITS**  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Exhibit<br>Number** | **Description** | **Form** | **File Number** | **Exhibit or**<br>**Annex** | **Filing Date** |
| 4.1 | [Certificate of Incorporation of FiscalNote Holdings, Inc.](http://www.sec.gov/Archives/edgar/data/1823466/000119312522210160/d349681dex31.htm) | 8-K | 001-39672 | 3.1 | 2-Aug-22 |
| 4.2 | [Bylaws of Incorporation of FiscalNote Holdings, Inc.](http://www.sec.gov/Archives/edgar/data/1823466/000119312522210160/d349681dex32.htm) | 8-K | 001-39672 | 3.2 | 2-Aug-22 |
| 4.3 | [Amended and Restated Registration Rights Agreement, dated as of July 29, 2022](http://www.sec.gov/Archives/edgar/data/1823466/000119312522210160/d349681dex105.htm) | 8-K | 001-39672 | 10.5 | 2-Aug-22 |
| 5.1\* | [Opinion of Polsinelli PC](d436264dex51.htm) |  |  |  |  |
| 23.1\* | [Consent of Polsinelli PC (included in Exhibit 5.1)](d436264dex51.htm) |  |  |  |  |
| 23.2\* | [Consent of RSM US LLP](d436264dex232.htm) |  |  |  |  |
| 24.1\* | [Power of Attorney (included on the signature page of this Form S-8)](#sig) |  |  |  |  |
| 99.1 | [FiscalNote Holdings, Inc. 2022 Long-Term Incentive Plan](http://www.sec.gov/Archives/edgar/data/1823466/000119312522210160/d349681dex109.htm) | 8-K | 001-39672 | 10.9 | 2-Aug-22 |
| 99.2 | [FiscalNote Holdings, Inc. 2022 Employee Stock Purchase Plan](http://www.sec.gov/Archives/edgar/data/1823466/000119312522210160/d349681dex1010.htm) | 8-K | 001-39672 | 10.10 | 2-Aug-22 |
| 107\* | [Fee Table](d436264dexfilingfees.htm) |  |  |  |  |

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\* Filed herewith.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Washington, District of Columbia, on this 29th day of March, 2023.

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| | |
|:---|:---|
| **FISCALNOTE HOLDINGS, INC.** | **FISCALNOTE HOLDINGS, INC.** |
| By: | /s/ Timothy Hwang |
|  | Timothy Hwang<br> Chief Executive Officer |

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**POWER OF ATTORNEY** 

**KNOW ALL PERSONS BY THESE PRESENTS**, that each person whose signature appears below constitutes and appoints Timothy Hwang and Jon Slabaugh, and each or either of them, as his or her true and lawful attorneys-in-fact and agents, each with the full power of substitution, for him or her and in their name, place or stead, in any and all capacities, to sign any and all amendments to this Registration Statement (including post-effective amendments), and to sign any registration statement for the same offering covered by this Registration Statement that is to be effective upon filing pursuant to Rule 462(b) promulgated under the Securities Act, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Timothy Hwang | Chief Executive Officer and Chairman | March 29, 2023 |
| Timothy Hwang | *(Principal Executive Officer)* |  |
| /s/ Jon Slabaugh | Chief Financial Officer and Senior | March 29, 2023 |
| Jon Slabaugh | Vice President of Corporate<br> Development |  |
|  | *(Principal Financial and Accounting*<br> *Officer)* |  |
| /s/ Gerald Yao | Chief Strategy Officer, Global Head of | March 29, 2023 |
| Gerald Yao | ESG and Director |  |
| /s/ Michael J. Callahan | Director | March 29, 2023 |
| Michael J. Callahan |  |  |
| /s/ Key Compton | Director | March 29, 2023 |
| Key Compton |  |  |
| /s/ Manoj Jain | Director | March 29, 2023 |
| Manoj Jain |  |  |
| /s/ Stanley McChrystal | Director | March 29, 2023 |
| Stanley McChrystal |  |  |
| /s/ Keith Nilsson | Director | March 29, 2023 |
| Keith Nilsson |  |  |
| /s/ Anna Sedgley | Director | March 29, 2023 |
| Anna Sedgley |  |  |
| /s/ Brandon Sweeney | Director | March 29, 2023 |
| Brandon Sweeney |  |  |
| /s/ Conrad Yiu | Director | March 29, 2023 |
| Conrad Yiu |  |  |

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## Exhibit 5.1

***Exhibit 5.1***

![LOGO](g436264g41j88.jpg)

1401 Eye Street, N.W., Suite 800, Washington, DC 20005 ● (202) 783-3300

March 29, 2023

Board of Directors

FiscalNote Holdings, Inc.

1201 Pennsylvania Avenue, N.W., 6<sup>th</sup> Floor

Washington, D.C. 20004

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| | |
|:---|:---|
| **Re:** | **FiscalNote Holdings, Inc. — Registration Statement on Form S-8**  |

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Ladies and Gentlemen:

We are acting as counsel to FiscalNote Holdings, Inc., a Delaware corporation (the "**Company**"), in connection with its registration statement on Form S-8 (the "**Registration Statement**"), filed on the date hereof with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Securities Act**"), relating to the proposed offering of up to an aggregate of 4,925,022 shares of Class A Common Stock, par value $0.0001 per share, of the Company (the "**Shares**"), 3,693,767 of which Shares are issuable pursuant to the Company's 2022 Long-Term Incentive Plan (the "**LTIP**") and 1,231,255 of which Shares are issuable pursuant to the Company's 2022 Employee Stock Purchase Plan (the "**ESPP**"). This opinion letter is furnished to you at your request to enable you to fulfill the requirements of Item 601(b)(5) of Regulation S-K, 17 C.F.R. § 229.601(b)(5), in connection with the Registration Statement.

For purposes of this opinion letter, we have examined copies of such agreements, instruments and documents as we have deemed an appropriate basis on which to render the opinions hereinafter expressed. In our examination of the aforesaid documents, we have assumed the genuineness of all signatures, the legal capacity of all natural persons, the accuracy and completeness of all documents submitted to us, the authenticity of all original documents, and the conformity to the authentic original documents of all documents submitted to us as copies (including electronic copies). We have also assumed that the Company has sufficient authorized but unissued and unreserved shares of common stock (or will validly amend the Company's Certificate of Incorporation, as amended, to authorize a sufficient number of shares of common stock for issuance under the LTIP and/or the ESPP prior to the issuance thereof) available for issuance as provided in the Registration Statement. As to all matters of fact, we have relied on the representations and statements of fact made in the documents so reviewed, and we have not independently established the facts so relied on. This opinion letter is given, and all statements herein are made, in the context of the foregoing.

This opinion letter is based, as to matters of law, solely on the Delaware General Corporation Law, as amended. We express no opinion herein as to any other statutes, rules, or regulations.

Based upon, subject to, and limited by the foregoing, we are of the opinion that following (i) effectiveness of the Registration Statement, (ii) issuance of the Shares pursuant to the terms of the LTIP and/or the ESPP, and (iii) receipt by the Company of the consideration, if any, for the Shares specified in the applicable resolutions of the Board of Directors or a duly authorized committee thereof, the LTIP or the ESPP, respectively, and any underlying award agreements or letters, the Shares will be validly issued, fully paid, and nonassessable.

This opinion has been prepared for use in connection with the Registration Statement. We assume no obligation to advise you of any changes in the foregoing subsequent to the effective date of the Registration Statement.

We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are an "expert" within the meaning of the Securities Act.

polsinelli.com <br> Atlanta Boston Chicago Dallas Denver Houston Kansas City Los Angeles Miami Nashville New York Phoenix St. Louis San Francisco Seattle Silicon Valley Washington, D.C. Wilmington Polsinelli PC, Polsinelli LLP in California

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Very truly yours,

/s/ Polsinelli PC

POLSINELLI PC

## Exhibit 23.2

**Exhibit 23.2** 

**Consent of Independent Registered Public Accounting Firm** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 of FiscalNote Holdings, Inc. of our report dated March 28, 2023, relating to the consolidated financial statements of FiscalNote Holdings, Inc., appearing in the Annual Report on Form 10-K of FiscalNote Holdings, Inc. for the year ended December 31, 2022.

/s/ RSM US LLP

McLean, Virginia

March 29, 2023

## Ex-Filing

**Exhibit 107** 

**Calculation of Filing Fee Tables** 

<u>Form S-8</u> 

(Form Type)

<u>FiscalNote Holdings, Inc.</u> 

(Exact name of Registrant as Specified in its Charter)

<u>Table 1 – Newly Registered Securities</u> 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Security<br> Type | Security<br> Class<br> Title | Fee<br>Calculation<br>or Carry<br>Forward<br>Rule | Maximum<br>Aggregate<br> Offering Price | Fee Rate | Amount of<br>Registration<br>Fee |
| &nbsp;&nbsp;&nbsp;Fees to Be Paid | Equity | Class A Common Stock, $0.0001 par value per share, to be issued pursuant to the FiscalNote Holdings, Inc. 2022 Long-Term Incentive Plan | Rule 457(c)<br>and Rule 457(h)3693767 <sup>(2)</sup> $1.53<sup>(3)</sup> | $5651463.51 | 0.0001102 | $622.80 |
|  | Equity | Class A Common Stock, $0.0001 par value per share, to be issued pursuant to the FiscalNote Holdings, Inc. 2022 Employee Stock Purchase Plan | Rule 457(c) and Rule 457(h)1231255 <sup>(4)</sup> $1.53<sup>(3)</sup> | $1883820.15 | 0.0001102 | $207.60 |
|  | Total Offering Amount/Registration Fee | Total Offering Amount/Registration Fee | Total Offering Amount/Registration Fee | $7535283.66 |  | $830.40 |
|  | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid |  |  | N/A |
|  | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  | N/A |
|  | Net Fees Due | Net Fees Due | Net Fees Due |  |  | $830.40 |

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1. Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the
"  ***Securities Act*** "), this Registration Statement shall also cover any additional shares of Class A common stock, $0.0001 par value per share (the "  ***Common Stock*** "), as the case may be, that become
issuable under the plans set forth herein by reason of any stock dividend, stock split, recapitalization, or other similar transaction effected that results in an increase to the number of outstanding shares of Common Stock.

2. Represents an automatic increase equal to 3,693,767 (3% of the total number of shares of Common Stock
outstanding on December 31, 2022), which annual increase is provided under the 2022 Long-Term Incentive Plan.

3. Solely for the purposes of calculating the registration fee and based on the average of the high and low prices
of the Common Stock as reported on the New York Stock Exchange on March 24, 2023, which date is within five business days prior to the filing of this Registration Statement.

4. Represents an automatic increase equal to 1,231,255 (1% of the total number of shares of the Company's
capital stock outstanding on December 31, 2022), which annual increase is provided under the Registrant's 2022 Employee Stock Purchase Plan.