To Delphic Researchers Shareholder: Waiver and Consent
Delphic Research is undertaking a modest second seed round to strengthen our balance sheet and position the company for its next phase of growth. This round is focused primarily on converting certain existing promissory notes into equity, reducing long-term liabilities, and eliminating interest obligations carried by insider lenders. No major new capital is being raised at this stage; rather, this is a structural clean-up designed to improve financial resilience and support continued momentum.
As part of this process, shareholders will receive a Waiver and Consent form via DocuSign in the coming days. We are asking all shareholders to review and sign the waiver promptly. Because some promissory notes convert at a discounted share price, this technically triggers pre-emptive rights under our shareholder agreement. The waiver allows the company to efficiently complete these debt-to-equity conversions without requiring a full pre-emptive rights process, ensuring that we can close the round quickly and keep focused on execution.
Shareholders who wish to participate in the round—including at the discounted conversion price—are welcome to do so, and we will substitute a subscription agreement in place of the waiver.
Who We Are/What We Do
At its core, our company aggregates policy, political, regulatory, and stakeholder intelligence, synthesizes that intelligence into actionable insights and then directs the relevant knowledge to each subscriber in a way that is meaningful to them. Our customers value staying abreast of the information that matters to them but, at the same time, they don’t want to spend their valuable time checking out multiple sources each day or having to operate their own tech stack.
Meet Argus: Our Proprietary Knowledge Engine
Our business strategy and approach to the market is to use technology in the service of people, building solutions that don’t require government affairs professionals to moonlight as technologists or programmers to operate. Philosophically, we see technology as a force multiplier, not the center of the story. Instead, we combine technology, domain expertise, and human talent to deliver a finished product, with the core channel being our Executive Daily Briefing.
Argus is at the heart of that. Argus allows us to monitor thousands of unique sources where information of relevance might emerge and then process critical intelligence it finds into actionable information – and with the ability to deliver that in many different formats, co-created with our customers.
Why now?
There has never been a more important time for government affairs professionals to lean into the intelligence they need to serve their clients and principals. We are currently living through an incredible period of policy uncertainty and volatility. At the same time, we have also seen an increase in governments’ willingness to act through increased regulation as well as various other instruments of state power. In fact, in just the first few years of this decade, G20 countries introduced 40% more new regulations per year than in the decade previous. Furthermore, a 2024 Grant Thornton Survey (UK) found that 77% of respondents anticipated even more regulatory obligations in the future.
We’ve progressed quite a bit in a few short years, but there is still much more to do to get us where we need to be. I remain committed to the work ahead and am grateful for the support you’ve provided towards our shared journey.
With sincere best wishes,
Jason Grier