TORRANCE, Calif., Aug. 18, 2020 /PRNewswire/ --
CarParts.com, Inc. (NASDAQ: PRTS) ("CarParts.com"), one
of the leading e-commerce providers of automotive parts and
accessories, today announced the closing of its underwritten
public offering of 6,900,000 shares of its common stock at a price
to the public of $13.00 per share,
which includes the full exercise of the underwriters' option to
purchase up to 900,000 additional shares of common stock.
CarParts.com sold 4,900,000 shares of its common stock and the
selling stockholder sold 2,000,000 shares of common stock. The
gross proceeds to CarParts.com from the offering, before
underwriting discounts and commissions and offering costs, was
$63,700,000. CarParts.com did
not receive any proceeds from the sale of the shares by the selling
stockholder.
RBC Capital Markets acted as the sole book-runner, and
Craig-Hallum Capital Group acted as the sole lead manager for the
offering. D.A. Davidson & Co. and Roth Capital Partners acted
as co-managers for the offering.
The securities described above were sold 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. A final prospectus supplement and accompanying
prospectus relating to the offering were filed with the SEC and are
available on the SEC's website at www.sec.gov. Copies of the final
prospectus supplement and the accompanying prospectus, 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 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.
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.