Direct Digital Holdings Inc.
08/28/2026 | Press release | Distributed by Public on 08/28/2026 14:03
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On August 26, 2026, Direct Digital Holdings, LLC ("DDH LLC"), as borrower, entered into the Thirteenth Amendment to Term Loan and Security Agreement (the "Thirteenth Amendment") with Direct Digital Holdings, Inc. (the "Company"), Colossus Media, LLC, Huddled Masses LLC and Orange142, LLC, as guarantors (collectively with DDH LLC, the "Credit Parties"), Lafayette Square Loan Servicing, LLC, as administrative agent (the "Agent"), and Lafayette Square USA, Inc., as lender (the "Lender"), in connection with the Company's existing Term Loan and Security Agreement, dated December 3, 2021, as amended (the "Term Loan Facility"), by and among the Credit Parties, the Agent, the Lender and the other lenders from time to time party thereto.
Pursuant to the Thirteenth Amendment, the Lender agreed to make a term loan in the principal amount equal to $695,000 (the "Thirteenth Amendment Term Loan") with a maturity date of October 12, 2026, to fund a $15,000 interest reserve and for general corporate purposes and working capital. The Thirteenth Amendment Term Loan bears interest at the same rate as the existing term loans under the Term Loan Facility, and the principal amount is due and payable in weekly installments of at least $20,000 for the week of August 31, 2026, and at least $100,000 each week from the week of September 7, 2026 though the week of October 5, 2026, in each case due on the last business day of the applicable week, with a final repayment of $175,000 due at maturity. The Thirteenth Amendment Term Loan is subject to the same mandatory prepayment terms and acceleration terms upon an event of default as the existing term loans under the Term Loan Facility. The Thirteenth Amendment also (i) confirmed deadlines set in the previously reported waiver letter dated August 18, 2026, entered into by the Credit Parties, the Agent and the Lender, related to the Term Loan Facility and (ii) added a financial covenant related to cash flow variances. After giving effect to the Thirteenth Amendment, term loans in the aggregate principal amount of $15.5 million were outstanding under the Term Loan Facility.
The foregoing description of the Thirteenth Amendment is not complete and is qualified in its entirety by the full text of the Thirteenth Amendment, a copy of which is filed herewith as Exhibit 10.1 and 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 disclosures set forth in Item 1.01 of this Current Report on Form 8-K are incorporated by reference herein.
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