Katapult Holdings Enters Material Definitive Agreement
Ticker: KPLTW · Form: 8-K · Filed: Nov 26, 2024 · CIK: 1785424
| Field | Detail |
|---|---|
| Company | Katapult Holdings, Inc. (KPLTW) |
| Form Type | 8-K |
| Filed Date | Nov 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $75 million, $100 million, $15 million, $10 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, exhibits
TL;DR
Katapult Holdings just signed a big deal, expect financial updates soon.
AI Summary
Katapult Holdings, Inc. entered into a material definitive agreement on November 21, 2024, related to a direct financial obligation. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Katapult Holdings, Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and new financial obligations can introduce financial risks and uncertainties for a company.
Key Players & Entities
- Katapult Holdings, Inc. (company) — Registrant
- November 21, 2024 (date) — Date of earliest event reported
- FinServ Acquisition Corp. (company) — Former company name
FAQ
What type of material definitive agreement did Katapult Holdings, Inc. enter into?
The filing states that Katapult Holdings, Inc. entered into a material definitive agreement on November 21, 2024, which also constitutes the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is November 21, 2024.
What was Katapult Holdings, Inc.'s former company name?
Katapult Holdings, Inc.'s former company name was FinServ Acquisition Corp.
What is the SEC file number for Katapult Holdings, Inc.?
The SEC file number for Katapult Holdings, Inc. is 001-39116.
What is the IRS Employer Identification Number for Katapult Holdings, Inc.?
The IRS Employer Identification Number for Katapult Holdings, Inc. is 84-2704291.
Filing Stats: 667 words · 3 min read · ~2 pages · Grade level 11.9 · Accepted 2024-11-25 17:43:05
Key Financial Figures
- $0.0001 — ich Registered Common Stock, par value $0.0001 per share KPLT The Nasdaq Stock Market
- $75 million — ncreased the total facility amount from $75 million to $100 million. $15 million of the inc
- $100 million — tal facility amount from $75 million to $100 million. $15 million of the increase was effect
- $15 million — mount from $75 million to $100 million. $15 million of the increase was effected through an
- $10 million — the revolving lending commitments, and $10 million of the increase was effected through th
Filing Documents
- kplt-20241121.htm (8-K) — 36KB
- exhibit10117thamendment.htm (EX-10.1) — 56KB
- 0001628280-24-049191.txt ( ) — 269KB
- kplt-20241121.xsd (EX-101.SCH) — 3KB
- kplt-20241121_def.xml (EX-101.DEF) — 16KB
- kplt-20241121_lab.xml (EX-101.LAB) — 28KB
- kplt-20241121_pre.xml (EX-101.PRE) — 17KB
- kplt-20241121_htm.xml (XML) — 4KB
01 Entry Into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement. On November 21, 2024, we entered into the 17th amendment to our Credit Agreement which increased the total facility amount from $75 million to $100 million. $15 million of the increase was effected through an increase in the revolving lending commitments, and $10 million of the increase was effected through the addition of an uncommitted line of credit which is available to be drawn whenever the committed portion of our revolving credit facility is fully utilized. This amendment is unrelated to the non-binding letter of intent we recently signed for a new revolving line of credit, working capital line of credit and term loan, which we disclosed in our third quarter earnings release. The lenders also agreed to waive payment of the original issue discount that would otherwise be payable under our Credit Agreement in connection with the increase. This description of the Seventeenth Amendment does not purport to be complete, and is subject to and qualified in its entirety by reference to the full text of the Seventeenth Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit 10.1 Seventeenth Amendment to Loan and Security Agreement, dated as of November 21, 2024, by and among Katapult SPV-1 LLC, Katapult Group, Inc., Katapult Holdings, Inc., and Midtown Madison Management LLC, as administrative, payment and collateral agent and lender, and the lenders party thereto. 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURES
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: November 25, 2024 /s/ Orlando Zayas Name: Orlando Zayas Title: Chief Executive Officer