---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-013098"
form_type: "8-K"
ticker: "KPLT"
cik: "0001785424"
company_name: "Katapult Holdings, Inc."
filed_at: "2025-10-14T23:59:59+00:00"
generated_at: "2026-05-17T03:57:01.287224+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Katapult obtains limited waiver on loan covenant default through Oct 20; lenders gain conversion rights at $16.54 VWAP

## Summary
- Company defaulted on Minimum Trailing Three-Month Originations covenant as of Aug 31 and Sept 30, 2025.
- Lenders temporarily waive default until Oct 20, 2025; no commitment to extend beyond.
- Class B Lenders can convert up to 100% of Term Loan into common stock at 20-day VWAP (~$16.54 as of Oct 10).
- Credit Parties release all claims against lenders except for fraud, gross negligence, or willful misconduct.
- Conversion rights exercisable anytime after execution; potential significant dilution for existing shareholders.

## SEC filing metadata
- accession: 0000950103-25-013098
- form_type: 8-K
- ticker: KPLT
- cik: 0001785424
- company_name: Katapult Holdings, Inc.
- filed_at: 2025-10-14T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1785424/000095010325013098/0000950103-25-013098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1785424/000095010325013098/dp235807_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-013098
- JSON: https://secwatch.observer/filing/0000950103-25-013098.json
- Plain text: https://secwatch.observer/filing/0000950103-25-013098.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.