{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-003054","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2023-01-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.323752+00:00","generated_at":"2026-06-20T16:43:02.545372+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Direct Digital Holdings secures $5M SVB revolver, amends Lafayette Square loan","bullets":["$5M revolving credit facility from Silicon Valley Bank; can increase to $7.5M with lender consent.","Matures September 30, 2024; interest at prime plus 1.50% (1.00% during streamline) with 6.25% floor.","Facility secured by substantially all assets; liquidity covenant requires at least $5M.","Third Amendment to Lafayette Square term loan releases Universal Standards for Digital Marketing as guarantor."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-003054","json":"https://secwatch.observer/filing/0001104659-23-003054.json","markdown":"https://secwatch.observer/filing/0001104659-23-003054.md","text":"https://secwatch.observer/filing/0001104659-23-003054.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923003054/0001104659-23-003054-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923003054/tm233061d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T16:43:02.545372+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"074f05968b8d53747b97ac2245b6a04c0d7a5e89","claim":"Direct Digital Holdings, Inc. incurred revolving credit of $5 million with Silicon Valley Bank at greater of (i) 6.25% and (ii) the prime rate plus the prime rate margin maturing September 30, 2024.","evidence_excerpt":"”) and Orange142, LLC (“ Orange ”), as borrowers. The Loan Agreement provides for a revolving credit facility (the “ Credit Facility ”) in the original principal amount of $5 million, subject to a borrowing base determined based on eligible accounts, and up to an additional $2.5 million incremental revolving facility subject to the lender’s consent, which may","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923003054/0001104659-23-003054-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$5 million"},{"label":"Counterparty","value":"Silicon Valley Bank"},{"label":"Rate","value":"greater of (i) 6.25% and (ii) the prime rate plus the prime rate margin"},{"label":"Maturity","value":"September 30, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a3f63f30a8b79bf4208f346294384342c244aa94","claim":"Direct Digital Holdings, Inc. amended Third Amendment with Lafayette Square Loan Servicing, LLC (effective 2023-01-09).","evidence_excerpt":"On January 9, 2023, DDH LLC entered into the Third Amendment (the “ Amendment ”) to the Term Loan and Security Agreement, dated December 3, 2021 (the “ 2021 Credit Facility ”) with the Company, Colossus, HM, and Orange, as guarantors, and Lafayette Square Loan Servicing, LLC (“ Lafayette Square ”), as administrative agent, and the various lenders thereto.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923003054/0001104659-23-003054-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Lafayette Square Loan Servicing, LLC"},{"label":"Effective","value":"2023-01-09"}],"fact_type":"material_agreement"},{"claim_id":"a427cec1bf99a3b14dae04b3eb8ca3bf09356cbf","claim":"Direct Digital Holdings, Inc. entered into Loan Agreement with Silicon Valley Bank valued at $5 million (effective 2023-01-09).","evidence_excerpt":"On January 9, 2023, Direct Digital Holdings, Inc. (the “ Company ”) entered into a Loan and Security Agreement (the “ Loan Agreement ”), by and among Silicon Valley Bank (“ SVB ”), as lender, and Direct Digital Holdings, LLC (“ DDH LLC ”), the Company, Huddled Masses LLC (“ HM ”), Colossus Media, LLC (“ Colossus ”) and Orange142, LLC (“ Orange ”), as borrowers.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000110465923003054/0001104659-23-003054-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Silicon Valley Bank"},{"label":"Value","value":"$5 million"},{"label":"Effective","value":"2023-01-09"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}