Katapult closes $65M convertible preferred investment; loan covenants amended, new directors appointed

Katapult Holdings, Inc.

Issued 35K Series A shares at $1,000 each ($35M gross) and 30K Series B shares ($30M) to HHCF Series 21 Sub, LLC for aggregate $65M.
Series A conversion price $12.32; Series B $11.39. Full conversion would give Purchaser 54.5% ownership, subject to 19.99% cap until stockholder approval.
Net proceeds: repay $35M term loan in full; $30M partially repay revolving loan and for general corporate purposes.
Loan agreement amended to permanently waive defaults through Oct 31, 2025; lower advance rate to 90%; raise liquidity covenant thresholds.
Directors Philip Key Bartow III, Jeffrey Rubin appointed immediately; Derek Medlin and Daniel Easley appointed conditionally; stockholder meeting by Feb 27, 2026.

item 1.01 item 3.03 item 3.02 item 5.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Katapult Holdings, Inc.: Established Series A and Series B Convertible Preferred Stock via Certificates of Designations (effective 2025-11-03).

Change: charter amendment
Effective: 2025-11-03

Exact text from the filing

The Series A Certificate of Designations establishes the powers, designations, preferences, and other rights of the Series A Convertible Preferred Stock and became effective upon filing with the Secretary of State of the State of Delaware on November 3, 2025.

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Katapult Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950103-25-014154

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