Katapult Holdings, Inc. (KPLT) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Katapult Holdings, Inc. on January 15, 2026. The filing addresses a material definitive agreement entered into on the same date regarding the company's credit facilities.
Key Financial Metrics
The filing does not provide specific values for revenue, profit, cash flow, margins, or total debt. The report focuses exclusively on a covenant compliance issue related to the company's Amended and Restated Loan and Security Agreement.
Material Changes and Events
- Covenant Default: The Credit Parties (Katapult SPV-1 LLC, Katapult Group, Inc., and Katapult Holdings, Inc.) failed to maintain the required "Minimum Trailing Three-Month Net Originations" as of December 31, 2025.
- Waiver Agreement: On January 15, 2026, the Company entered into the "Seventh Limited Waiver" with Midtown Madison Management LLC and other lenders.
- Resolution: The Seventh Limited Waiver permanently waives the Existing Default resulting from the failure to meet the origination target.
- History of Modifications: This is the seventh waiver since the original agreement in June 2025, following six prior waivers and two amendments in late 2025.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the immediate covenant default. The primary contingency addressed is the resolution of the default through the permanent waiver.
Key Facts for Investor Verification
- Verify the specific "Minimum Trailing Three-Month Net Originations" threshold required by the Loan Agreement.
- Review the full text of the Seventh Limited Waiver (Exhibit 10.1) for any new covenants, fees, or conditions attached to the waiver.
- Assess the frequency of waivers (seven in approximately seven months) as an indicator of ongoing operational or liquidity stress.
- Confirm the current status of the company's ability to meet future origination targets under the amended terms.