secwatch.observer — SEC 8-K summary
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Issuer:     Direct Digital Holdings, Inc. (DRCT)
CIK:        0001880613
Form:       8-K
Filed at:   2026-08-21T13:02:26+00:00
Accession:  0001880613-26-000104
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Direct Digital Holdings gets loan default waivers, Nasdaq extension to Sept 15
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- Lender waives Q2 2026 covenant breaches: min cash $450k, leverage ≤3.50x, fixed charge ≥1.25x, EBITDA ≥$200k.
- Missed interest for May-July 2026 and Twelfth Amendment fees deferred to Sept 30, 2026; August interest also due then.
- Waivers for cash covenant and refinancing/preferred transaction defaults expire Aug 31, 2026; compliance required Sept 1.
- Nasdaq panel extends stockholders' equity compliance deadline to Sept 15, 2026; company must update progress then.
- No immediate delisting; DRCT continues trading on Nasdaq Capital Market pending panel review.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1880613/000188061326000104/0001880613-26-000104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1880613/000188061326000104/drct-20260814.htm
  HTML page:      https://secwatch.observer/filing/0001880613-26-000104

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