---
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"
generated_at: "2026-05-28T15:56:57.254683+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-000266
- JSON: https://secwatch.observer/filing/0001628280-25-000266.json
- Plain text: https://secwatch.observer/filing/0001628280-25-000266.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.