DRCT amends credit agreements, waives defaults, obtains $6M term loan, sells shares

Direct Digital Holdings, Inc.

Prepaid $5M on EWB revolver to reduce commitment to $5M; new Lafayette Square term loan of $6M.
Covenants amended: minimum EBITDA removed, replaced with $750k unrestricted cash requirement.
Existing defaults under EBITDA covenants waived under both East West and Lafayette Square agreements.
Sold 800k shares of Class A common stock to New Circle for ~$1.64M total cash consideration.
Weekly cash flow forecasts required under both amended credit agreements.

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