Katapult Holdings Secures Fifth Limited Waiver on Loan Agreement Amid Default
Katapult Holdings Inc. has entered into a Fifth Limited Waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders. The waiver, dated October 27, 2025, temporarily addresses the company's failure to maintain required minimum trailing three-month originations for August and September 2025. While the waiver suspends default until October 29, 2025, the default is still considered ongoing for certain conversion rights, allowing Class B Lenders to convert up to 100% of the outstanding term loan into Katapult common stock at a rate based on the average share price over the previous 20 trading days. As of October 24, 2025, the 20-day volume weighted average price was approximately $13.04 per share.
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