Form 8-K - Current report
August 25 2023 - 5:26PM
Edgar (US Regulatory)
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2023-08-25
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): August
25, 2023
PARTS ID, INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-38296 |
|
81-3674868 |
(State or other jurisdiction |
|
(Commission File Number) |
|
(IRS Employer |
of incorporation) |
|
|
|
Identification No.) |
1 Corporate Drive
Suite C
Cranbury, New Jersey 08512
(Address of principal executive offices, including
zip code)
609-642-4700
(Registrant’s telephone number, including area
code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Class A Common Stock |
|
ID |
|
NYSE American |
Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
PARTS iD, Inc., a Delaware corporation (the “Company”)
has entered into discussions with an affiliate for the purposes of providing a loan of up to $1.5 million to the Company. Although the
Company intends to negotiate and execute a definitive agreement with respect to such loan; until an agreement is signed by the parties,
no party will have any liability to any other party with respect to the proposed transaction. There is no assurance that a definitive
agreement will be reached between the parties on agreeable terms, if at all.
Cautionary Note Regarding Forward-Looking Statements
This Current
Report on Form 8-K includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act
of 1995. Words such as ““may,” “could,” “should,”
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,”
“predict,” “potential,” “confident,” “look forward,” “optimistic” and similar
expressions and their variants, as they relate to us may identify forward-looking statements.
Important factors that may cause actual results to
differ materially from the results discussed in the forward-looking statements include risks and uncertainties, including without limitation:
the ongoing conflict between Ukraine and Russia has affected and may continue to affect our business; competition and our ability to counter
competition, including changes to the algorithms of Google and other search engines and related impacts on our revenue and advertisement
expenses; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we may take in response thereto;
disruptions in the supply chain and associated impacts on demand, product availability, order cancellations and cost of goods sold including
inflation; difficulties in managing our international business operations, particularly in the Ukraine, including with respect to enforcing
the terms of our agreements with our contractors and managing increasing costs of operations; changes in our strategy, future operations,
financial position, estimated revenues and losses, product pricing, projected costs, prospects and plans; the outcome of actual or potential
litigation, complaints, product liability claims, or regulatory proceedings, and the potential adverse publicity related thereto; our
ability to meet the continued listing requirements of the NYSE American and to maintain the listing of our securities thereon; the
implementation, market acceptance and success of our business model, expansion plans, opportunities and initiatives, including the market
acceptance of our planned products and services; developments and projections relating to our competitors and industry; our expectations
regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; our ability to
maintain and enforce intellectual property rights and ability to maintain technology leadership; our future capital requirements; our
ability to raise capital and utilize sources of cash; our ability to obtain funding for our operations; changes in applicable laws or
regulations; the effects of current and future U.S. and foreign trade policy and tariff actions; disruptions in the marketplace for online
purchases of aftermarket auto parts; costs related to operating as a public company; the possibility that we may be adversely affected
by other economic, business, and/or competitive factors; and other factors discussed from time to time in our news releases, public statements
and documents filed by us with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. These forward-looking statements and such risks, uncertainties and other factors
speak only as of the date of this Current Report on Form 8-K, and we expressly disclaim any obligation or undertaking to update or revise
any forward-looking statement contained herein, to reflect any change in our expectations with regard thereto or any other change in events,
conditions or circumstances on which any such statement is based, except to the extent otherwise required by applicable law.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits. The following exhibits
are filed as part of this report:
Exhibit No. |
|
Description |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 25, 2023
|
PARTS ID, INC. |
|
|
|
|
By: |
/s/ John Pendleton |
|
|
Name: John Pendleton |
|
|
Title: Executive Vice President, Legal & Corporate Affairs |
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