secwatch.observer — SEC 8-K summary
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Issuer:     Katapult Holdings, Inc. (KPLT)
CIK:        0001785424
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0001628280-25-008236
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Katapult amends credit agreement, waives defaults from data errors, reduces liquidity covenant
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- Minimum liquidity covenant reduced from $10M to $7M through Dec 31, 2024, returns to $10M on Jan 1, 2025.
- Max total advance rate for Q1 2025 increased from 120% to 125%.
- Liquidity definition expanded to include deposits in Marqeta account for Katapult Pay.
- Waives defaults from borrowing base certificate errors caused by data application issues.
- Company now in full compliance with the credit agreement after discovering and resolving errors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785424/000162828025008236/0001628280-25-008236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785424/000162828025008236/kplt-20250220.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-008236

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer