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.
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