secwatch.observer — SEC 8-K summary
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Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-10-29T23:59:59+00:00
Accession:  0000950103-25-013817
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325013817/0000950103-25-013817-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325013817/dp236488_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-013817

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