secwatch.observer — SEC 8-K summary
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Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-10-27T23:59:59+00:00
Accession:  0000950103-25-013675
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325013675/0000950103-25-013675-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325013675/dp236339_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-013675

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