{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-000266","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2025-01-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.464992+00:00","generated_at":"2026-05-28T15:56:57.254683+00:00","sec_items":["1.01","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"DRCT amends credit agreements, waives defaults, obtains $6M term loan, sells shares","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-000266","json":"https://secwatch.observer/filing/0001628280-25-000266.json","markdown":"https://secwatch.observer/filing/0001628280-25-000266.md","text":"https://secwatch.observer/filing/0001628280-25-000266.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000162828025000266/0001628280-25-000266-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000162828025000266/drct-20241227.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-28T15:56:57.254683+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}