Katapult Secures 12th Loan Waiver, Amends Debt Terms Amid Ongoing Financial Challenges
KPLT is trading near its 52-week low of $5.5 (8.2% above the low).
Summary
Katapult Holdings received its twelfth loan waiver, permanently removing a failed covenant but also facing a reduced advance rate on its debt facility, highlighting ongoing financial distress.
Key Events · Financing and Capital Events · KPLT
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Twelfth Loan Waiver Obtained
The company secured a 'Third Amendment and Limited Waiver' to its Loan and Security Agreement, marking the twelfth such waiver or amendment since June 2025, addressing a failure to maintain 'Minimum Trailing Three-Month Net Originations' as of May 31, 2026.
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Financial Covenant Removed
The 'Minimum Trailing Net Three-Month Originations' requirement, which the company repeatedly failed to meet, has been permanently removed from the loan agreement.
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Borrowing Capacity Reduced
Lenders reduced the advance rate on the loan facility from 90% to 85%, effectively decreasing the amount the company can borrow against its eligible leases.
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Merger and Reorganization Progress
The amendment includes lender consent for the 'Parent Reorganization Transaction' and 'Katapult Merger Transaction', which were previously disclosed as highly dilutive events.
Analysis · KPLT · Trade & Services
Katapult Holdings has once again failed to meet a financial covenant, marking the twelfth such waiver or amendment to its loan agreement in less than a year. While the lenders have permanently waived the default related to 'Minimum Trailing Three-Month Net Originations' and removed this requirement, they have also tightened terms by reducing the advance rate from 90% to 85%. This indicates persistent financial instability and a precarious liquidity position for the micro-cap company, which has previously disclosed a 'going concern' warning. The reduced advance rate directly impacts the company's borrowing capacity, signaling increased lender caution despite the waiver of a specific covenant. This also comes as the company progresses with a previously announced highly dilutive merger.
How filings like this one have moved
In the 30 days to Sep 13, 2026, 41.2% of the 449 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. 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 $5.95 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $28.4M. The 52-week trading range was $5.50 to $24.34. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.