FiscalNote Holdings, Inc. announced on August 5, 2025, that it has entered into definitive agreements to refinance its senior debt and restructure substantially all of its subordinated debt. These transactions are expected to provide the company with a clear, long-term runway and operating flexibility.
The company will replace its current senior credit facility with a new $75 million senior secured term loan, maturing in August 2029, provided by MGG Investment Group. Excess proceeds from this facility, along with new subordinated convertible debt, will be used to refinance certain existing subordinated debt.
FiscalNote also amended its agreement with its largest long-term subordinated creditor to extend the maturity of its remaining balance to 2029. The company reaffirmed its full-year 2025 forecast of total revenues between $94 million and $100 million and adjusted EBITDA between $10 million and $12 million, reflecting confidence in its operating plan.
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