Katapult Holdings Files S-1 Registration

TL;DR

Katapult Holdings (KTPLT) just filed an S-1, looks like they're prepping for a new offering.

AI Summary

Katapult Holdings, Inc. filed an S-1 registration statement on June 10, 2024, for an unspecified offering. The company, formerly known as FinServ Acquisition Corp. until August 14, 2019, is incorporated in Delaware and headquartered in Plano, Texas. This filing indicates a potential future sale of securities by the company.

Why It Matters

This S-1 filing signals that Katapult Holdings, Inc. is preparing to offer securities to the public, which could impact its stock price and investor interest.

Risk Assessment

Risk Level: medium — S-1 filings indicate potential future stock offerings, which can introduce volatility and uncertainty for existing shareholders.

Key Numbers

• 333-280099 — SEC File Number (Identifies this specific registration statement)
• 7359 — SIC Code (Classifies the company's industry as Services-Equipment Rental & Leasing, NEC)
• 842704291 — IRS Number (Company's Employer Identification Number)

Key Players & Entities

• Katapult Holdings, Inc. (company) — Registrant
• FinServ Acquisition Corp. (company) — Former company name
• June 10, 2024 (date) — Filing date
• Orlando Zayas (person) — Chief Executive Officer
• Nicole Brookshire (person) — Counsel
• Hillary A. Coleman (person) — Counsel
• Davis Polk & Wardwell (company) — Legal Counsel

FAQ

Key Financial Figures

• $0.0001 — 4 shares of our common stock, par value $0.0001 per share ("Common Stock"), including u
• $16.66 — e closing price of our Common Stock was $16.66. We are a "smaller reporting company"
• $50 — total addressable market opportunity of $50 - $60 billion. Based on our 2023 gross
• $60 billion — addressable market opportunity of $50 - $60 billion. Based on our 2023 gross originations,
• $833.0 million — shares of our common stock equal to (a) $833.0 million (subject to adjustment in accordance wi
• $250.00 — "PIPE Shares"), for a purchase price of $250.00 per share and an aggregate purchase pri
• $150,000,000 — hare and an aggregate purchase price of $150,000,000 (the "PIPE Investment"), pursuant to se
• $1.235 billion — total annual gross revenue of at least $1.235 billion (c) the last day of the fiscal year in
• $700 million — that are held by non-affiliates exceeds $700 million as of the last business day of our prio
• $1.0 billion — date on which we have issued more than $1.0 billion in non-convertible debt during the prio
• $250.0 million — ock held by non-affiliates is less than $250.0 million measured on the last business day of ou
• $100.0 million — ter, or our annual revenue is less than $100.0 million during the most recently completed fisc
• $700.0 million — ock held by non-affiliates is less than $700.0 million measured on the last business day of ou

Filing Documents

• katapult-sx1.htm (S-1) — 452KB
• exhibit107-sx1.htm (EX-FILING FEES) — 41KB
• exhibit51-sx1.htm (EX-5.1) — 12KB
• exhibit231-sx1.htm (EX-23.1) — 3KB
• exhibit232-sx1.htm (EX-23.2) — 3KB
• davispolklogo.jpg (GRAPHIC) — 25KB
• katapultlogo1aa.jpg (GRAPHIC) — 10KB
• 0001628280-24-027566.txt ( ) — 560KB

Use of Proceeds

Use of Proceeds 6 Market Information for Common Stock and Dividend Policy 7 Principal Securityholders 8 Selling Securityholders 10

Description of Securities

Description of Securities 12 Plan of Distribution 21 Material United States Federal Income Tax Considerations 25 Legal Matters 29 Experts 29 Where You Can Find More Information 29 Incorporation of Documents By Reference 30 Neither we nor the Selling Securityholders have authorized anyone to provide you with any information other than that contained or incorporated by reference into this prospectus, any applicable prospectus supplement and any free writing prospectus. We and the Selling Securityholders take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. Neither we nor the Selling Securityholders are making an offer of these securities in any jurisdiction where the offer is not permitted. You should not assume that the information in this prospectus, any applicable prospectus supplement or any documents incorporated by reference is accurate as of any date other than the date of the applicable document. Since the respective dates of this prospectus and the documents incorporated by reference into this prospectus, our business, financial condition, results of operations and prospects may have changed. The effects of the 1-for-25 reverse stock split of our common stock (the "Reverse Stock Split") have been reflected in this Form S-1 for all information presented. Unless the context indicates otherwise, references in this prospectus to the "Company," "Katapult," "we," "us," "our" and similar terms refer to Katapult Holdings, Inc. (fka FinServ Acquisition Corp.), a Delaware corporation, and its consolidated subsidiaries. References to "FinServ" refer to the Company prior to the consummation of the Merger (as defined herein). i ABOUT THIS PROSPECTUS This prospectus is part of a registration statement on Form S-1 that we filed with the Securities and Exchange Commission (the "SEC") using the "shelf" registration process. Under this shelf registration process, the Selling

View Full Filing

View this S-1 filing on SEC EDGAR