Item 8.01. Other Events.
On December 6, 2021, DSAC and FiscalNote
issued a joint press release announcing the filing of a Registration Statement on Form S-4 (the “Form S-4”) for the transactions
contemplated by the Business Combination Agreement (the “Business Combination”). The joint press release of DSAC and FiscalNote
is attached as Exhibit 99.2 hereto and is incorporated into this Item 8.01 by reference.
Additional Information and Where to Find It
DSAC has filed the Form S-4 with the Securities
and Exchange Commission (the “SEC”) containing a proxy statement/prospectus relating to the Business Combination, which will
be mailed to its shareholders once definitive. This Current Report on Form 8-K does not contain all the information that should be considered
concerning the Business Combination and is not intended to form the basis of any investment decision or any other decision in respect
of the Business Combination. DSAC’s shareholders and other interested persons are advised to read the preliminary proxy statement/prospectus
and the amendments thereto and, when available, the definitive proxy statement/prospectus and other documents filed in connection with
the Business Combination, as these materials contain or will contain important information about DSAC, FiscalNote and the Business Combination.
When available, the definitive proxy statement/prospectus and other relevant materials for the proposed Business Combination will be mailed
to shareholders of DSAC as of a record date to be established for voting on the Business Combination. Shareholders of DSAC will also be
able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed
with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a written request to: Duddell
Street Acquisition Corp., 8/F Printing House, 6 Duddell Street, Hong Kong.
Participants in the Solicitation
DSAC and its directors and executive officers may
be deemed participants in the solicitation of proxies from DSAC’s shareholders with respect to the Business Combination. A list
of the names of those directors and executive officers and a description of their interests in is contained in DSAC’s filings with
the SEC. To the extent that holdings of DSAC’s securities have changed since the amounts printed
in DSAC’s proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with
the SEC. Additional information regarding the interests of such participants is contained in the proxy statement/prospectus for
the Business Combination.
FiscalNote and its directors and executive officers
may also be deemed to be participants in the solicitation of proxies from the shareholders of DSAC in connection with the Business Combination.
A list of the names of such directors and executive officers and information regarding their interests in the proposed Business Combination
is included in the proxy statement/prospectus for the Business Combination.
Forward-Looking Statements
Certain statements in this Current Report on Form
8-K may be considered forward-looking statements. Forward-looking statements generally relate to future events or DSAC’s or FiscalNote’s
future financial or operating performance. For example, statements about the expected timing of the completion of the Business Combination,
the benefits of the Business Combination, the competitive environment, and the expected future performance (including future revenue,
pro format enterprise value, and cash balance) and market opportunities of FiscalNote are forward-looking statements. In some cases, you
can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,”
“will,” “estimate,” “anticipate,” “believe,” “predict,” “potential”
or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements
are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied
by such forward-looking statements.
These forward-looking statements are based upon
estimates and assumptions that, while considered reasonable by DSAC and its management, and FiscalNote and its management, as the case
may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are
not limited to: the inability to enter into a definitive agreement with respect to the proposed Business Combination; matters discovered
by FiscalNote or DSAC as they complete their respective due diligence investigation of the other; the inability to recognize the anticipated
benefits of the proposed Business Combination, which may be affected by, among other things, the ability to meet the listing standards
of the Nasdaq Stock Market following the consummation of the transactions contemplated by the proposed Business Combination; costs related
to the proposed Business Combination; FiscalNote’s ability to manage growth; FiscalNote’s ability to execute its plans to
develop and market new products and services and the timing and costs of these development programs; FiscalNote’s estimates of the
size of the markets for its products and services; the rate and degree of market acceptance of FiscalNote’s products and services;
the success of other competing legal and regulatory information services that exist or may become available; FiscalNote’s ability
to identify and integrate acquisitions; the performance of FiscalNote’s products and services; rising costs adversely affecting
FiscalNote’s profitability; potential litigation involving DSAC or FiscalNote or the validity or enforceability of FiscalNote’s
intellectual property; and general economic and market conditions impacting demand for FiscalNote’s products and services. Other
factors include the possibility that the proposed Business Combination does not close, including due to the failure to receive required
security holder approvals, or the failure of other closing conditions. Risks and uncertainties that may affect the completeness or accuracy
of these forward-looking statements are set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” of the Form S-4.
Nothing in this Current Report on Form 8-K should
be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the
contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Except as may be required by law, neither DSAC nor FiscalNote undertakes any duty to update
these forward-looking statements.