secwatch.observer — SEC 8-K summary
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Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-10-20T23:59:59+00:00
Accession:  0000950103-25-013412
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325013412/0000950103-25-013412-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325013412/dp236084_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-013412

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