On March 25, 2026, FiscalNote Holdings, Inc. received a delisting notice from the New York Stock Exchange (NYSE) due to its Class A common stock's average closing price falling below $1.00 over a consecutive 30-trading day period. The NYSE has initiated delisting proceedings under Rule 802.01C of its continued listing requirements. The company has the right to appeal this decision to the NYSE's Listing Qualifications Panel and is currently evaluating its options. Trading of the company's common stock and warrants will be suspended immediately, with expectations to commence trading on the OTC Markets under the same ticker symbol, NOTE, starting March 26, 2026. Despite this setback, FiscalNote assures that its ongoing business operations and reporting obligations to the SEC remain unaffected. The company has also recently undergone an organizational transformation, including a 25% workforce reduction and a 19% decrease in cash operating costs, aimed at improving its financial health and positioning for future growth. FiscalNote is focused on enhancing its PolicyNote API and entering the political predictions market, which could provide new revenue streams. However, the delisting notice poses significant challenges to its market perception and investor confidence.

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