Loan & DebtJun 3, 2026, 04:57 PM
Katapult Amends Loan Agreement, Removes Origination Requirement
AI Summary
Katapult Holdings, Inc. (KPLT) has entered into a Third Amendment and Limited Waiver to its Amended and Restated Loan and Security Agreement. Key changes include the removal of the Minimum Trailing Net Three-Month Originations requirement and a reduction in the advance rate. This amendment also formally waives a previously existing Default related to failing to meet the origination requirement for May 2026. Additionally, the company received consent for its Parent Reorganization Transaction.
Key Highlights
- Katapult Holdings entered into a Third Amendment and Limited Waiver to its Loan Agreement.
- The amendment removes the Minimum Trailing Net Three-Month Originations requirement.
- The advance rate under the Loan Agreement has been reduced.
- The company had an existing Default/Event of Default due to failing to meet Minimum Trailing Three-Month Net Originations for May 2026.
- The Agent and Lenders permanently waived this specific Existing Default.
- The Agent and Lenders consented to the Parent Reorganization Transaction, including specific designations and debt incurrence.
Price Impact
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