Direct Digital Holdings Inc. has entered into a Ninth Amendment to its existing Term Loan and Security Agreement, originally dated December 3, 2021. Under the new terms, Direct Digital Holdings, LLC, along with its guarantors, has agreed with Lafayette Square Loan Servicing, LLC and related lenders to convert $10 million in term loans and other debt obligations into newly authorized Series A Preferred Stock with a face amount of $10 million, issued to Lafayette. In addition, a $3.5 million amendment fee will be added to the principal balance of the term loans and will be due upon the loan's maturity. Following these changes, $9.99 million in term loans remain outstanding, and the total Series A Preferred Stock issued now stands at $35 million. The amendment also updates certain financial covenants and permits the issuance of new preferred shares, as well as requiring prepayments under specific cash and revenue conditions.