TORRANCE, Calif., Aug. 11, 2020 /PRNewswire/
-- CarParts.com, Inc. (NASDAQ: PRTS)
("CarParts.com"), one of the leading e-commerce providers of
automotive parts and accessories, today announced that it intends
to offer three million shares of its common stock for
sale in an underwritten public offering. A selling shareholder of
the CarParts.com also intends to offer two million shares
of common stock for sale in the offering. In connection with this
offering, CarParts.com expects to grant the underwriters a 30-day
option to purchase up to 750,000 additional shares of common
stock at the public offering price, less underwriting discounts and
commissions. CarParts.com will not receive any proceeds from the
sale of shares by the selling shareholder. CarParts.com intends to
use its net proceeds of the offering for general corporate
purposes, including working capital.
RBC 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.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-240467) and preliminary
prospectus supplement filed with the U.S. Securities and Exchange
Commission (the "SEC"). The preliminary prospectus supplement
relating to the offering will be available on the SEC's website
located at http://www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus, when available, may
also be obtained 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 prospectus@chlm.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered in any
state or other jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About CarParts.com
For over 20 years, CarParts.com has been a leader in the
e-commerce automotive aftermarket, providing collision, engine, and
performance parts and accessories. With over 50 million parts
delivered, we've helped everyday drivers across the contiguous
United States find the right parts
to keep their vehicles on the road.
With a focus on the end-to-end customer experience, we've
designed our website and sourcing network to simplify the way
drivers get the parts they need. Our vehicle selector and
easy-to-navigate, mobile-friendly website offer customers
guaranteed fitment and a convenient online shopping experience. And
with our own wide distribution network, we bring the very best
brands and manufacturers directly to consumer hands, cutting out
all the brick-and-mortar supply chain costs to provide quality
parts at a discount for our loyal customers. Combined with our
90-day return policy and satisfaction guarantee, CarParts.com makes
it simple for customers to get parts delivered straight to their
door. CarParts.com is headquartered in Torrance, California.
Forward-Looking Statement
This press release contains statements which are forward
looking statements for the purposes of the safe harbor provided by
Section 21E of the Securities Exchange Act of 1934, as amended
and Section 27A of the Securities Act of 1933, as amended.
Words such as "anticipates," "could," "expects," "intends,"
"plans," "potential," "believes," "predicts," "projects," "seeks,"
"estimates," "may," "will," "would," "will likely continue" and
variations of these words or similar expressions are intended to
identify forward-looking statements. These statements include,
but are not limited to, the proposed offering of shares of common
stock.. We undertake no obligation to revise or update publicly any
forward-looking statements for any reason, except as required by
law. These statements are not guarantees of future performance and
are subject to certain risks, uncertainties and assumptions that
are difficult to predict. Therefore, our actual results could
differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are
not limited to, market risks and uncertainties, the satisfaction of
customary closing conditions for an offering of securities, and any
other factors discussed in the Company's filings with the
Securities and Exchange Commission (the "SEC"), including the Risk
Factors contained in the Company's Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q, which are available
at www.carparts.com/investor and the SEC's website
at www.sec.gov. You are urged to consider these factors
carefully in evaluating the forward-looking statements in this
release and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by this cautionary statement. Unless otherwise required by
law, the Company expressly disclaims any obligation to update
publicly any forward-looking statements, whether as result of new
information, future events or otherwise, except as required by
law.
Investor Relations:
Sean Mansouri, CFA or
Cody Slach
Gateway Investor Relations
949-574-3860
PRTS@gatewayir.com
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SOURCE CarParts.com, Inc.