FiscalNote Holdings Plunges 16.35% on Reverse Stock Split Announcement

FiscalNote Holdings, Inc. (NYSE: NOTE) experienced a significant drop of 16.35% in pre-market trading on July 29, 2025.

FiscalNote Holdings, Inc. has filed a preliminary information statement with the Securities and Exchange Commission (SEC), announcing that over 67% of its voting power has authorized the Board of Directors to effect a reverse stock split. This move is aimed at bringing the company into compliance with the New York Stock Exchange's continued listing standard, which requires a minimum average closing share price of $1.00 over a consecutive 30 trading-day period. The deadline to regain compliance is October 10, 2025.

The reverse stock split, if implemented, will not affect shareholders' percentage ownership interests or proportionate voting power. The final ratio of the split will be determined by the Board when the Company files an amendment to its certificate of incorporation. The Company believes that a reverse split may make its common stock more attractive to a broader range of investors by improving investor perception, ensuring continued compliance with NYSE listing standards, and enhancing liquidity.