secwatch.observer — SEC 8-K summary
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Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-09-16T23:59:59+00:00
Accession:  0000950103-25-011678
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Katapult gets limited waiver through Sep 29 after breaching $61M origination covenant
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- Failed to maintain Minimum Trailing Three-Month Originations of $61M as of Aug 31, 2025, triggering default.
- Lenders (Blue Owl entities) temporarily waive default until 5:00 p.m. ET on September 29, 2025.
- Waiver is limited to this specific default; other defaults not waived and lenders retain remedies.
- During waiver period, the default is deemed continuing for purposes of Sections 2.4(a) and 4.2(c) of the loan agreement.
- Credit parties release lenders from all claims arising on or before September 15, 2025, excluding fraud or willful misconduct.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325011678/0000950103-25-011678-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325011678/dp234385_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-011678

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