Katapult obtains fifth limited waiver on loan covenant breach; default waived only until Oct 29

Katapult Holdings, Inc.

Failed to maintain Minimum Trailing Three-Month Originations of at least $61M as of Aug 31 and Sep 30, 2025.
Fifth Limited Waiver temporarily waives the existing default only through October 29, 2025.
Class B Lenders may convert up to 100% of Term Loan into common stock; 20-day VWAP ~$13.04 as of Oct 24.
Prior waivers dated Sep 15, Sep 29, Oct 13, and Oct 20 show recurring covenant issues.
Company releases claims against lenders except for fraud, gross negligence, or willful misconduct.

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