Katapult Holdings Secures Limited Waiver to Loan Agreement, Allowing Lenders Conversion Rights Amid Default

Reuters10-14

Katapult Holdings Secures Limited Waiver to Loan Agreement, Allowing Lenders Conversion Rights Amid Default

Katapult Holdings Inc. has entered into a Third Limited Waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders. This waiver, dated October 13, 2025, temporarily addresses Katapult's failure to maintain minimum trailing three-month originations for August and September 2025, as required by the original loan agreement. The waiver extends through October 20, 2025, and, despite the temporary waiver, the existing default is still considered ongoing for conversion rights purposes. As a result, Class B lenders now have the right to convert up to 100% of the outstanding term loan amount into Katapult common stock, based on the 20-day volume weighted average price, which was approximately $16.54 as of October 10, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Katapult Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950103-25-013098), on October 14, 2025, and is solely responsible for the information contained therein.

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This waiver, dated October 13, 2025, temporarily addresses Katapult's failure to maintain minimum trailing three-month originations for August and September 2025, as required by the original loan agreement. The waiver extends through October 20, 2025, and, despite the temporary waiver, the existing default is still considered ongoing for conversion rights purposes. As a result, Class B lenders now have the right to convert up to 100% of the outstanding term loan amount into Katapult common stock, based on the 20-day volume weighted average price, which was approximately $16.54 as of October 10, 2025.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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