SCHEDULE: Blue Owl Boosts Katapult Stake to 42.74% via Conversion Shares

Blue Owl Capital Holdings LP increased its beneficial ownership in Katapult Holdings, Inc. to 42.74% due to an increase in conversion shares driven by the issuer's stock price.

Summary

• Blue Owl Capital Holdings LP reported beneficial ownership of 3,407,261 shares of Katapult Holdings, Inc. common stock.
• This represents 42.74% of the class, calculated based on 4,569,546 shares outstanding as of August 8, 2025, plus additional shares from warrants and conversions.
• The reported securities include 5,421 shares of Common Stock, 662,264 shares from warrants, and 2,739,576 shares from conversion.
• The amendment was filed because changes in Katapult's stock price increased the number of Conversion Shares acquirable under a Refinancing Agreement.
• No transactions in Common Stock were effected by Blue Owl Capital Holdings LP within the last 60 days.

Sentiment

Score: 7

Explanation: The filing indicates an increase in beneficial ownership for Blue Owl Capital Holdings LP, driven by an increase in Katapult's stock price. This underlying stock price appreciation is a positive signal for the issuer, even if the filing itself is administrative.

Positives

• The increase in beneficial ownership for Blue Owl Capital Holdings LP is a result of an increase in Katapult's stock price, which is generally a positive indicator for the issuer.
• Blue Owl Capital Holdings LP's significant stake (42.74%) indicates strong conviction in Katapult Holdings, Inc.

Risks

• The information shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to its liabilities, but is subject to all other provisions of the Act.
• The filing of this Statement shall not be deemed an admission of beneficial ownership by the Reporting Person for purposes of Section 13(d) or 13(g) or for any other purpose.

Future Outlook

No specific forward-looking statements or guidance are provided in this filing, as it primarily reports a change in beneficial ownership.

Industry Context

This filing reflects a significant ownership stake by a major investment firm (Blue Owl Capital) in a fintech company (Katapult Holdings, Inc.), which operates in the lease-to-own sector. Such substantial institutional ownership can signal confidence in the company's long-term prospects within its niche, especially when the increase in ownership is driven by stock price appreciation.

Related Party Transactions

• The reported securities are held by various funds and accounts managed by Blue Owl Capital Holdings LP, including Blue Owl Asset Income Fund IV LP, Blue Owl Asset Income Fund V LP, Blue Owl Asset Income Fund (Cayman) IV LP, Blue Owl Asset Income Fund (Cayman) V LP, Blue Owl Asset Special Opportunities Fund VII LP, Blue Owl Asset Special Opportunities Fund (Cayman) VII LP and ACM Alamosa (Cayman) Holdco LP.

Stakeholder Impact

• Shareholders: The increased beneficial ownership by a significant institutional investor, driven by stock price appreciation, could be viewed positively, potentially signaling confidence and stability.
• Creditors: The mention of a 'Refinancing Agreement' suggests existing financial arrangements, and the stock price increase could indirectly improve the company's financial standing.

Key Dates

Recommendation

This filing primarily details an administrative update to beneficial ownership, driven by an increase in the issuer's stock price. While the underlying stock price appreciation is positive, the filing itself does not provide sufficient new financial or operational data to warrant a change from a 'hold' position without further analysis of Katapult's broader financial performance and strategic outlook. It confirms a significant institutional stake and positive stock movement, but lacks details for a stronger recommendation.

Keywords

Katapult Holdings, Blue Owl Capital, Schedule 13D, Beneficial Ownership, Common Stock, Warrants, Conversion Shares, Refinancing Agreement, Financial Reporting, SEC Filing