Katapult Holdings Secures Limited Waiver Extension on Loan Agreement, Grants Lenders Expanded Conversion Rights

Reuters

2025/09/30

Katapult Holdings Secures Limited Waiver Extension on Loan Agreement, Grants Lenders Expanded Conversion Rights

**Katapult Holdings Secures Temporary Waiver on Loan Covenant Breach** Katapult Holdings Inc. announced it has entered into a Second Limited Waiver to its Amended and Restated Loan and Security Agreement with lenders led by Midtown Madison Management LLC. The waiver, dated September 29, 2025, addresses Katapult's failure to maintain the required minimum trailing three-month originations as of August 31, 2025-a breach that was previously temporarily waived. The new agreement extends the waiver of this default until October 13, 2025, providing Katapult with temporary relief. However, the default is still considered ongoing for conversion rights purposes, allowing certain lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a conversion rate based on the company's recent 20-day volume-weighted average price, which stood at approximately $19.52 as of September 26, 2025. The waiver and related terms are detailed in Katapult's latest SEC filing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Katapult Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950103-25-012458), on September 29, 2025, and is solely responsible for the information contained therein.

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The waiver, dated September 29, 2025, addresses Katapult's failure to maintain the required minimum trailing three-month originations as of August 31, 2025-a breach that was previously temporarily waived. The new agreement extends the waiver of this default until October 13, 2025, providing Katapult with temporary relief. However, the default is still considered ongoing for conversion rights purposes, allowing certain lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a conversion rate based on the company's recent 20-day volume-weighted average price, which stood at approximately $19.52 as of September 26, 2025. The waiver and related terms are detailed in Katapult's latest SEC filing.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Katapult Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950103-25-012458), on September 29, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4166","symbol_name":"消费信贷","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250929:nNDL1DXvDt:1","article_id":"2571036313","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2571036313","pubTimestamp":1759180354,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"**Katapult Holdings Secures Temporary Waiver on Loan Covenant Breach** Katapult Holdings Inc. announced it has entered into a Second Limited Waiver to its Amended and Restated Loan and Security Agreement with lenders led by Midtown Madison Management LLC. The waiver, dated September 29, 2025, addresses Katapult's failure to maintain the required minimum trailing three-month originations as of August 31, 2025-a breach that was previously temporarily waived. The new agreement extends the waiver of this default until October 13, 2025, providing Katapult with temporary relief. However, the default is still considered ongoing for conversion rights purposes, allowing certain lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a conversion rate based on the company's recent 20-day volume-weighted average price, which stood at approximately $19.52 as of September 26, 2025. 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