In a recent move at FiscalNote Holdings, Inc. (NYSE:NOTE), Director Compton Key has distributed 29,399 shares of Class A Common Stock. This transaction, recorded on March 20, 2024, was disclosed in a Form 4 filing with the Securities and Exchange Commission.
According to the filing, the shares were distributed to certain members of Urgent Capital LLC upon redemption of their respective membership interests in the entity. Although the distributed shares were reported with a transaction price per share of $0.00, it's important to note that this value does not necessarily reflect the market price at the time of the transaction or any potential income received by the members from the redemption.
Compton Key's relationship with Urgent Capital is significant. As a managing director of Urgent International Inc., which owns and operates Urgent Capital, Key may be deemed to have voting and dispositive power over the shares held by Urgent Capital. This also applies to shares beneficially owned by Global Public Offering Master Fund, L.P., for which Urgent International Inc. serves as the investment advisor.
Following the distribution, Key's direct holdings in FiscalNote Holdings have decreased, leaving him with a beneficial ownership of 1,466 shares indirectly through Urgent Capital. However, the filing also indicates that Key has indirect ownership of an additional 214,897 shares through Global Public Offering Master Fund, L.P., and 139,700 shares held directly.
This redistribution of shares is part of the regular financial disclosures required of company directors and may offer insights into the company's ownership structure. Investors often monitor such transactions for potential indications of a director's confidence in the company and its future prospects.
The signature on the filing was provided by Todd Aman, Attorney-in-Fact, on March 22, 2024.
InvestingPro Insights
In light of the recent share distribution by Director Compton Key of FiscalNote Holdings, Inc. (NYSE:NOTE), investors may be evaluating the company's financial health and stock performance. Here are some key metrics and insights from InvestingPro that could provide a clearer picture of FiscalNote's current standing:
InvestingPro Data:
- Market Cap (Adjusted): 182.1M USD
- Price / Book LTM as of Q4 2023: 4.19
- Gross Profit Margin LTM as of Q4 2023: 69.66%
Despite the company's impressive gross profit margins, which are indicative of its ability to control costs relative to revenue, FiscalNote Holdings is grappling with a significant debt burden. The company's Price / Book ratio, which stands at 4.19, suggests that the market is valuing the company at over four times its book value. This is a metric that investors often scrutinize when assessing whether a stock is overvalued or undervalued.
InvestingPro Tips that could be particularly relevant to investors in the context of the recent share distribution include:
- The company operates with a significant debt burden and may have trouble making interest payments on its debt.
- FiscalNote's stock has taken a big hit over the last week, declining by 16.0%, which could be a point of concern for investors looking at short-term performance.
For those seeking a more comprehensive analysis, additional InvestingPro Tips are available. These tips delve deeper into the company's financials, stock performance, and market valuation. There are 15 more tips listed on InvestingPro for FiscalNote Holdings, which can be accessed at https://www.investing.com/pro/NOTE. Investors interested in a Pro or Pro+ subscription can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly subscription.
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