Direct Digital secures lender waiver on term loan covenant breaches, missed interest payments
DRCT•Lender waiver covers covenant breaches and missed interest payments
Direct Digital Holdings’ DDH LLC unit signed a waiver letter on Aug. 18, 2026 tied to its amended term loan facility.
- Lafayette Square Loan Servicing, as agent, waived covenant breaches for the quarter ended June 30, 2026.
- Lafayette Square USA, as lender, waived missed interest payments for May, June and July, and pushed the August interest due date to Sept. 30, 2026.
- The waiver also deferred Twelfth Amendment-related fees until Sept. 30, 2026.
- Relief on a minimum cash covenant, tied to a refinancing and preferred transaction provision, runs through Aug. 31, 2026.
