secwatch.observer — SEC 8-K summary
======================================

Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-06-13T23:59:59+00:00
Accession:  0000950103-25-007354
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Katapult refinances credit: $110M revolver, $32.7M term loan at 18% PIK; warrants issued to Blue Owl
--------------------------------------------------------------------------------

- New $110M revolver (incl $20M new commitments) at SOFR+7%+0.10% spread; $32.7M term loan at 18% PIK interest.
- Term loan convertible to equity at 50% discount to 20-day VWAP (floor $2); warrants for 486,264 shares at $0.01 to Blue Owl affiliates.
- Stockholder approval required by Sep 1, 2025 for conversion; failure triggers default and acceleration.
- Existing defaults waived contingent on stockholder approval; new covenants include minimum liquidity from Feb 2026.
- Term loan conversion could dilute up to 80% of equity; warrants add ~10.7% of outstanding shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325007354/0000950103-25-007354-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325007354/dp230096_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-007354

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer