Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Katapult Holdings, Inc. (NASDAQ:KPLT) entered into a fifth limited waiver to its Amended and Restated Loan and Security Agreement on Monday. The agreement, disclosed in a press release statement and filed with the SEC, temporarily waives certain loan covenant defaults related to minimum trailing three-month originations for the periods ending August 31, 2025, and September 30, 2025. According to InvestingPro data, the company faces significant financial challenges with a current ratio of 0.61, indicating short-term obligations exceed liquid assets. The company’s financial health score stands at 1.86, rated as ’FAIR’ by InvestingPro analysts.
The waiver, effective until October 29, 2025, was reached with Midtown Madison Management LLC and other lenders. Despite the temporary waiver, the existing default is considered to have occurred and remains in effect for the purposes of conversion rights under the loan agreement. This grants the Class B lenders and their assignees the ability to convert up to 100% of the outstanding term loan amount into shares of Katapult Holdings common stock at the established conversion rate. With total debt of $109.36 million and rapidly diminishing cash reserves, as highlighted in InvestingPro’s comprehensive analysis, the company’s financial position warrants close monitoring.
The number of shares issuable upon exercise of these conversion rights is determined based on the average daily volume weighted average price (VWAP) of Katapult Holdings common stock over the 20 consecutive trading days ending on the date of conversion, subject in certain cases to a specified discount. As of the last completed trading day of October 24, 2025, the 20-day VWAP was approximately $13.04.
Katapult Holdings’ common stock and redeemable warrants are listed on The Nasdaq Stock Market LLC under the symbols KPLT and KPLTW, respectively. The company provides equipment rental and leasing services.
This information is based on a press release statement and the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Katapult Holdings has reported strong financial results for the second quarter of 2025. The company achieved a 22% increase in revenue, driven by over 30% growth in originations, reaching $72 million. Katapult’s adjusted EBITDA was $0.3 million, surpassing analyst estimates, and both gross merchandise value and revenue exceeded expectations. Stephens has responded to these results by raising its price target for Katapult to $10, maintaining an Equal Weight rating. Additionally, Katapult has entered into a fourth limited waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders. This waiver temporarily addresses defaults related to minimum trailing three-month originations for August and September 2025. Despite these waivers, the defaults are still considered ongoing for conversion rights purposes. These developments reflect Katapult’s ongoing efforts to navigate financial challenges while maintaining growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.