---
title: "Katapult Expands Board and Tightens Governance Provisions"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290182843.md"
description: "Katapult Holdings amended its merger and stockholders agreements, expanding its board from nine to ten directors by adding Philip Bartow III. The amendments tighten governance by requiring 80% board approval, including specific key stakeholders, for any future board increases beyond ten members. This change clarifies control for equityholders of Aaron’s and CCFI."
datetime: "2026-06-18T10:36:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290182843.md)
  - [en](https://longbridge.com/en/news/290182843.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290182843.md)
---

# Katapult Expands Board and Tightens Governance Provisions

An announcement from Katapult Holdings ( (KPLT) ) is now available.

On June 17, 2026, Katapult Holdings, Inc. amended its December 11, 2025 merger agreement with subsidiaries, CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc. The amendment expands the planned Katapult board from nine to ten directors and adds Philip Bartow III to the same board class as Lynn DeVault, Gene Schutt and Orlando Zayas, whose terms will end at the second annual meeting of stockholders following the closing.

On June 17, 2026, Katapult also amended its December 11, 2025 stockholders agreement with certain equityholders of Aaron’s and CCFI to mirror the expanded board size and the appointment of Bartow. For the three years after the closing, any further increase above ten directors will require approval by at least 80% of the board, including at least one of DeVault or Will Jones or their designated substitutes, tightening governance over future board expansions and clarifying control for key stakeholders.

The most recent analyst rating on (KPLT) stock is a Hold  
with a $12.00 price target.  
To see the full list of analyst forecasts on Katapult Holdings stock,  
see the KPLT Stock Forecast page.

**Spark’s Take on KPLT Stock**

According to Spark, TipRanks’ AI Analyst, KPLT is a Neutral.

The score is held back primarily by weak financial resilience (negative equity, leverage, and negative free cash flow) and bearish technicals (below major moving averages with negative MACD). A very low P/E provides some offset, while recent events are mixed—litigation risk fell, but repeated covenant waivers highlight continued funding/credit strain.

To see Spark’s full report on KPLT stock,  
click here.

**More about Katapult Holdings**

Katapult Holdings, Inc. is a Delaware-based company that operates through wholly owned subsidiaries, including Katapult Merger Sub 1, Inc. and Katapult Merger Sub 2, LLC, and is engaged in corporate transactions involving entities such as CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc. The company’s governance structure centers on a classified board, with terms tied to annual stockholder meetings following the closing of its merger arrangements.

**Average Trading Volume:** 16,075

**Technical Sentiment Signal:** Sell

**Current Market Cap:** $29.26M

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