Katapult gets temporary waiver of loan default until Oct 27; lenders may convert debt to equity

Katapult Holdings, Inc.

Failed to maintain minimum $61M trailing three-month originations as of Aug 31 and Sep 30, 2025, triggering default.
Fourth Limited Waiver temporarily waives the default until 5:00 PM ET on October 27, 2025.
Default deemed continuing for conversion rights; Class B lenders can convert up to 100% of Term Loan into common stock.
Conversion price based on 20-day VWAP (approx $14.49 as of Oct 17, 2025), subject to a specified discount.
Credit parties release lenders from all claims except fraud, gross negligence, or willful misconduct.

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