CarParts.com Announces Pricing of Public Offering of Common Stock

About this update from Carparts.com, Inc.

[{"type":"text","content":" TORRANCE, Calif., Aug. 13, 2020 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS) (\"CarParts.com\"), one of the leading e-commerce providers of automotive parts and accessories, today announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock at a price to the public of $13.00 per share. Of the shares being offered, 4,000,000 are being offered by CarParts.com and the remaining 2,000,000 shares are being offered by an existing stockholder. CarParts.com has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock in the offering at the public offering price. The gross proceeds to CarParts.com from the offering, before underwriting discounts and commissions and offering costs, are expected to be $52,000,000. CarParts.com intends to use the net proceeds from the proposed offering for general corporate purposes, including working capital. The offering is expected to close on or about August 18, 2020, subject to satisfaction of customary closing conditions. \n\n \n \n \n \n \n \n\n \nRBC Capital Markets is acting as the sole book-runner, and Craig-Hallum Capital Group is acting as the sole lead manager for the offering. D.A. Davidson & Co. and Roth Capital Partners are acting as co-managers for the offering.\nThe securities described above are being offered pursuant to an effective shelf registration statement on Form S-3 (No. 333-240467) that was declared effective by the Securities and Exchange Commission (the \"SEC\") on August 11, 2020. The offering may be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus, when available, may also be obtained by request from RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, New York 10281-8098, or by fax at (212) 428-6260; or from Craig-Hallum Capital Group at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, Attention: Equity Capital Markets, by telephone at 612-334-6300, or by email [email protected]. This press release shall not constitute an offer t...

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