secwatch.observer — SEC 8-K summary
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Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-11-03T23:59:59+00:00
Accession:  0000950103-25-014154
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.03, 3.02, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325014154/0000950103-25-014154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000095010325014154/dp236791_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-014154

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