Katapult enters sixth limited waiver for loan covenant breach; lenders can convert debt to equity

Katapult Holdings, Inc.

Sixth limited waiver temporarily waives default for failing to maintain $61M minimum trailing three-month originations as of Aug 31 and Sep 30, 2025.
Waiver expires Oct 31, 2025; company has been in repeated covenant breach (prior waivers Sept 15, 29, Oct 13, 20, 27).
Existing default deemed continuing for conversion rights; Class B lenders may convert up to 100% of Term Loan to common stock at ~$12.85/share.
Agent and lenders have no obligation to extend waiver beyond Oct 31; company acknowledges no further commitment.

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