Katapult Files Pro Forma Financials for Aaron's/CCFI Merger: $3.3B Combined Balance Sheet, $36.9M H1 Net Income
KPLT sits 78% above its 52-week low of $5.3 on elevated volume (3.2× avg).
Summary
Katapult filed the required financial statements and pro forma information for its completed reverse merger with Aaron's and CCFI, revealing a $3.3 billion combined balance sheet, $36.9 million in pro forma H1 2026 net income, and the full debt financing structure behind the deal.
Key Events · M&A and Partnerships · KPLT
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Pro Forma Financials Filed
The 8-K/A provides the previously deferred Item 9.01 financial statements for CCF Holdings and Aaron's Intermediate Holdco, plus pro forma combined financials showing $3.30 billion in total assets, $3.28 billion in total liabilities, and $21.4 million in total equity as of June 30, 2026.
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Pro Forma H1 2026 Net Income of $36.9M
The combined company would have generated $36.9 million in net income on $2.01 billion in revenue for the six months ended June 30, 2026, with pro forma EPS of $0.42 on 87.3 million weighted-average shares outstanding.
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Full Debt Financing Structure Disclosed
The filing reveals a $200 million senior secured term loan facility (initial $121.7 million funded, delayed draw up to $78 million) at 15% cash plus 5% PIK interest, a $74.7 million term loan to fund the purchase of Hawthorn's preferred stock, and a $25 million increase to the Sparrow Term Loan.
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Preferred Stock Eliminated
Katapult repurchased all 65,000 shares of Series A/B Convertible Preferred Stock from Hawthorn for $74.7 million, eliminating the preferred stock and the related $8.7 million derivative liability from the balance sheet.
Analysis · KPLT · Trade & Services
This amendment delivers the financial statements and pro forma information that were deferred when the reverse merger closed on August 11, 2026. The pro forma data shows the combined company would have generated $36.9 million in net income for the first half of 2026 on $2.01 billion in revenue, with total assets of $3.30 billion against $3.28 billion in liabilities. The filing also reveals the full financing structure behind the deal: a $200 million senior secured term loan at 15% cash plus 5% PIK interest, a $74.7 million loan to buy out Hawthorn's preferred stock, and a $25 million increase to the Sparrow Term Loan. Legacy Katapult holders were left with just 5.9% of the combined company, while CCFI unitholders hold 80% and Aaron's stockholders hold 14.1%. The pro forma balance sheet shows a thin equity cushion of only $21.4 million on $3.3 billion in assets, meaning the combined entity is highly leveraged and sensitive to any operating shortfall.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 35.7% of the 1694 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.10%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, KPLT was trading at $9.43 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $824.2M. The 52-week trading range was $5.30 to $23.07. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.