Katapult Holdings receives loan covenant waiver

Katapult Holdings, Inc. entered into a Tenth Limited Waiver to its Amended and Restated Loan and Security Agreement on April 15, 2026.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

Katapult Holdings, Inc. entered into a Tenth Limited Waiver to its Amended and Restated Loan and Security Agreement on April 15, 2026. The waiver responds to the credit parties’ failure to maintain the required Minimum Trailing Three-Month Net Originations as of March 31, 2026 and to collateral lease charge-offs exceeding agreed thresholds.

The Tenth Limited Waiver permanently waives the defined Existing Default and any reduction to the Advance Rate that would have resulted from the specified Existing Advance Rate Trigger Events. The full terms are set out in the Limited Waiver filed as Exhibit 10.1.

Positive

None.

Negative

Katapult’s credit parties triggered an Existing Default by failing to maintain required Minimum Trailing Three-Month Net Originations and allowing collateral lease charge-offs to exceed thresholds, signaling elevated portfolio and covenant risk.

Insights

Loan covenant breach led to a waiver that removes an existing default but flags underlying credit strain.

Katapult and its affiliates breached loan covenants tied to Minimum Trailing Three-Month Net Originations and collateral lease charge-off thresholds as of March 31, 2026. This created an Existing Default under the Loan Agreement with Midtown Madison Management LLC and other lenders.

The Tenth Limited Waiver permanently waives that Existing Default and any related reduction in the Advance Rate, preserving borrowing capacity under the facility. While the waiver averts immediate financing pressure, the need for repeated limited waivers suggests the business has been operating close to its covenant limits.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Tenth Limited Waiver date: April 15, 2026 Covenant test date: March 31, 2026 Loan Agreement original date: June 12, 2025

3 metrics

Tenth Limited Waiver date April 15, 2026 Date Katapult entered the Tenth Limited Waiver

Covenant test date March 31, 2026 As-of date for Minimum Trailing Three-Month Net Originations test

Loan Agreement original date June 12, 2025 Date of Amended and Restated Loan and Security Agreement

Key Terms

Material Definitive Agreement, Limited Waiver, Existing Default, Advance Rate, +1 more

5 terms

Material Definitive Agreement regulatory

"Item 1.01 Entry Into a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Limited Waiver financial

"entered into the Limited Waiver (the “Tenth Limited Waiver”) to our Amended and Restated Loan and Security Agreement"

Existing Default financial

"permanently waives the Existing Default (as defined in the Tenth Limited Waiver)"

Advance Rate financial

"any reduction to the Advance Rate resulting from the Existing Advance Rate Trigger Events"

The advance rate is the percentage of an asset’s appraised or stated value that a lender is willing to loan against, commonly used for receivables, inventory, or property. For investors it shows how much immediate cash a company can raise from its assets — like the share of value a pawnbroker will lend you — and affects liquidity, borrowing capacity and perceived credit risk.

Minimum Trailing Three-Month Net Originations financial

"failure to maintain Minimum Trailing Three-Month Net Originations as of the last business day of the calendar month ended March 31, 2026"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Katapult Holdings (KPLT) announce on April 15, 2026?

Katapult Holdings entered into a Tenth Limited Waiver to its Amended and Restated Loan and Security Agreement. The waiver addresses an Existing Default and related Advance Rate consequences, with full terms contained in the Limited Waiver filed as Exhibit 10.1.

Why did Katapult Holdings (KPLT) need a Tenth Limited Waiver?

The waiver was executed because the credit parties failed to maintain the required Minimum Trailing Three-Month Net Originations as of March 31, 2026 and collateral lease charge-offs exceeded specified thresholds, creating an Existing Default under the Loan Agreement.

What does the Tenth Limited Waiver do for Katapult’s loan agreement?

The Tenth Limited Waiver permanently waives the defined Existing Default and any reduction to the Advance Rate resulting from the Existing Advance Rate Trigger Events, helping maintain borrowing capacity under Katapult’s Amended and Restated Loan and Security Agreement.

Who are the parties to Katapult’s Tenth Limited Waiver?

The waiver is among Katapult SPV-1 LLC, Katapult Group, Inc., Katapult Holdings, Inc., Midtown Madison Management LLC as administrative, payment and collateral agent and lender, and the other lenders that are parties to the Amended and Restated Loan and Security Agreement.

Where can investors find full details of Katapult’s Tenth Limited Waiver?

Full details are contained in the Limited Waiver dated April 15, 2026, filed as Exhibit 10.1. The 8-K incorporates this exhibit by reference for the complete terms and conditions of the Tenth Limited Waiver.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 04/16/2026 - 06:14 AM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 15, 2026

KATAPULT HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-39116

84-2704291

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

5360 Legacy Drive, Building 2

Plano, TX

75024

(Address of principal executive offices)

(Zip Code)

(833) 528-2785

(Registrant’s telephone number, including area code:)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on

Which Registered

Common Stock, par value $0.0001 per share

KPLT

The Nasdaq Stock Market LLC

Redeemable Warrants

KPLTW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry Into a Material Definitive Agreement.

On April 15, 2026, Katapult Holdings, Inc. (the “Company”) entered into the Limited Waiver (the “Tenth Limited Waiver”) to our Amended and Restated Loan and Security Agreement, dated as of June 12, 2025 (as amended, amended and restated, supplemented, revised, or otherwise modified from time to time, including pursuant to that certain Limited Waiver dated September 15, 2025 (the “First Limited Waiver”), that certain Limited Waiver dated September 29, 2025 (the “Second Limited Waiver”), that certain Limited Waiver dated October 13, 2025 (the “Third Limited Waiver”), that certain Limited Waiver dated October 20, 2025 (the “Fourth Limited Waiver”), that certain Limited Waiver dated October 27, 2025 (the “Fifth Limited Waiver”), that certain Limited Waiver dated October 29, 2025 (the “Sixth Limited Waiver”), that certain Limited Waiver and First Amendment to Amended and Restated Loan and Security Agreement dated November 2, 2025 (the “First Amendment”), that certain Limited Waiver and Second Amendment to Amended and Restated Loan and Security Agreement dated December 11, 2025 (the “Second Amendment”), that certain Limited Waiver dated January 15, 2026 (the “Seventh Limited Waiver”), that certain Limited Waiver dated February 13, 2026 (the “Eighth Limited Waiver”), that certain Limited Waiver dated March 9, 2026 (the “Ninth Limited Waiver”) and the Tenth Limited Waiver, the “Loan Agreement”), by and among Katapult SPV-1 LLC, Katapult Group, Inc., the Company (each a “Credit Party” and, together, the “Credit Parties”), Midtown Madison Management LLC, as administrative, payment and collateral agent and lender, and the lenders party thereto (the “Lenders”) in response to (i) the Credit Parties’ failure to maintain Minimum Trailing Three-Month Net Originations as of the last business day of the calendar month ended March 31, 2026 as required by the Loan Agreement and (ii) the percentage of leases included in the collateral that have been charged-off exceeding certain thresholds. The Tenth Limited Waiver, among other things, permanently waives the Existing Default (as defined in the Tenth Limited Waiver) and any reduction to the Advance Rate resulting from the Existing Advance Rate Trigger Events (as defined in the Tenth Limited Waiver).

This description of the Tenth Limited Waiver does not purport to be complete, and is subject to and qualified in its entirety by reference to the full text of the Tenth Limited Waiver, which is attached as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Exhibit

10.1		Limited Waiver, dated as of April 15, 2026, by and among Katapult SPV-1 LLC, Katapult Group, Inc, Katapult Holdings, Inc., Midtown Madison Management LLC and the lenders party thereto.
104		Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:	April 16, 2026	/s/ Orlando Zayas
		Name: Orlando Zayas
		Title: Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

EX-10.1 EXHIBIT 10.1 53.6 KB

Katapult Holdings receives loan covenant waiver