Katapult Holdings Inc.
11/26/2024 | Press release | Distributed by Public on 11/26/2024 05:01
Material Agreement Form 8 K
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.