Katapult Merges With FinServ
Katapult Holdings, Inc., an e-commerce focused financial technology company, and FinServ Acquisition Corp. (“FinServ”), a special purpose acquisition company, recently completed their previously announced merger. The business combination was approved at a special meeting of stockholders of FinServ on June 7, 2021, and closed on June 9, 2021. The combined company now operates as Katapult Holdings, Inc. (“Katapult”) and Katapult’s common shares and warrants will begin trading on the Nasdaq Stock Market under the ticker symbols “KPLT” and “KPLTW”, respectively, starting tomorrow, June 10, 2021.
Katapult’s management team, led by CEO Orlando Zayas, will continue to execute the growth strategy of the company. Brian Hirsch, Managing Partner at Tribeca Venture Partners and one of the original investors in Katapult will serve as Chairman of Katapult’s newly formed Board of Directors.
Katapult’s Decision To Go Public
Orlando Zayas, CEO of Katapult, stated, “Taking our company public is a testament to the hard work and dedication of the entire Katapult team. We would like to thank the FinServ team for their belief in our success, and we look forward to their continued partnership as stockholders and members of our Board. We are thrilled to embark on this next stage in our company’s history and excited to see the opportunities ahead of us for strong growth and long-term value creation.”
Lee Einbinder, CEO of FinServ, stated, “We are pleased to complete the merger with Katapult, and I am very excited to continue to work with the Katapult team to execute on their growth plan. Katapult’s differentiated and best-in-class fintech platform, growing roster of high-quality merchant partners, and expanding customer base make it well-positioned for a strong growth trajectory.”
Katapult will release its first quarter ended March 31, 2021 financial results on Tuesday, June 15, 2021, before market open. The company will host a conference call and webcast at 8:00 AM ET to discuss the company’s financial results.
Visit ir.katapultholdings.com
About Katapult
Katapult (NASDAQ: KPLT) is the leading omnichannel lease-purchase platform, providing alternative solutions for retailers and consumers. As a financial technology company, Katapult provides cutting-edge technology that integrates seamlessly with online platforms, enabling our retail partners to expand their customer base, increase transactions, and grow revenue. Katapult’s consumer-centric focus ensures an efficient application and approval process while providing transparent and tailored payment terms. Katapult associates with hundreds of retailers across the United States, with merchant support teams, marketing insights, and suggestions for continued success.
