Katapult Holdings Enters Definitive Agreement to Merge with Aaron's Company
Katapult Holdings announced the company has entered into a definitive agreement with The Aaron's Company and CCF Holdings to combine in an all-stock transaction. The transaction will create a premier omni-channel platform that provides non-prime consumers access to durable goods and a comprehensive suite of innovative financial solutions tailored to their specific needs. Under the terms of the agreement, upon close of the transaction, current Katapult stockholders will own 6% of the combined company on a fully diluted basis and stakeholders of Aaron's and CCF Holdings will own the remainder. Aaron's and CCF Holdings will be subsidiaries of Katapult, which is expected to continue trading on NASDAQ under the ticker symbol "KPLT." The Boards of Directors of Katapult, Aaron's, and CCF Holdings approved the transaction. The transaction is expected to close in the first half of 2026, following the receipt of requisite stockholder and regulatory approvals and the satisfaction of other customary closing conditions. The transaction is not subject to a financing condition. Following the close of the transaction Katapult, Aaron's, and CCF Holdings are expected to continue to operate under their existing brand names. The combined company, which will be called Katapult Holdings, Inc., will be headquartered in Atlanta, Georgia. Upon closing, Cory Miller will serve as CEO and Russell Falkenstein, CFO of Aaron's, will serve as CFO. The combined company's board of directors will be comprised of nine directors, including Kyle Hanson as Executive Chair, Cory Miller, and Orlando Zayas. A majority of the board directors will be independent.
