Katapult Holdings Secures Fifth Limited Waiver on Loan Agreement Amid Default

Reuters10-28

Katapult Holdings Secures Fifth Limited Waiver on Loan Agreement Amid Default

Katapult Holdings Inc. has entered into a Fifth Limited Waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders. The waiver, dated October 27, 2025, temporarily addresses the company's failure to maintain required minimum trailing three-month originations for August and September 2025. While the waiver suspends default until October 29, 2025, the default is still considered ongoing for certain conversion rights, allowing Class B Lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a rate based on the average share price over the previous 20 trading days. As of October 24, 2025, the 20-day volume weighted average price was approximately $13.04 per share.

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: 0000950103-25-013675), on October 27, 2025, and is solely responsible for the information contained therein.

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The waiver, dated October 27, 2025, temporarily addresses the company's failure to maintain required minimum trailing three-month originations for August and September 2025. While the waiver suspends default until October 29, 2025, the default is still considered ongoing for certain conversion rights, allowing Class B Lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a rate based on the average share price over the previous 20 trading days. As of October 24, 2025, the 20-day volume weighted average price was approximately $13.04 per share.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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While the waiver suspends default until October 29, 2025, the default is still considered ongoing for certain conversion rights, allowing Class B Lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a rate based on the average share price over the previous 20 trading days. As of October 24, 2025, the 20-day volume weighted average price was approximately $13.04 per share.\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. 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. 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