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) January 16, 2025
 
graphic

CARPARTS.COM, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
001-33264
68-0623433
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

2050 W. 190th Street, Suite 400, TorranceCA 90504
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code (424) 702-1455
 
N/A
(Former name or former address, if changed since last report)
 
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
Common Stock, $0.001 par value per share
PRTS
The NASDAQ Stock Market LLC
(NASDAQ Global Market)

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

On January 16, 2025, CarParts.com, Inc. (the “Company”), received a letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1). The letter noted that for the 10 consecutive business days from December 30, 2024 through January 14, 2025, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1), and Nasdaq considers this matter closed.

Item 9.01.
Financial Statements and Exhibits

(d)  Exhibits.

Exhibit Number
Exhibit Description
   
Press Release, dated January 16, 2025, of CarParts.com, Inc.


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: January 16, 2025
CARPARTS.COM, INC.
 
By:
/s/ Ryan Lockwood
 
Name:
Ryan Lockwood
 
Title:
Chief Financial Officer




Exhibit 99.1

CarParts.com, Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement

TORRANCE, Calif. – January 16, 2025 – CarParts.com, Inc. (Nasdaq: PRTS), a leading e-commerce provider of automotive parts and accessories, today announced that it has received notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2).

The Company received written notification from Nasdaq on January 16, 2025, stating that because the Company's shares had a closing bid price at or above $1.00 per share for 10 consecutive business days, from December 30, 2024 to January 14, 2025, the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed.

"Regaining compliance with Nasdaq's minimum bid price requirement represents an important milestone for CarParts.com and reflects the market's growing recognition of our operational execution and business potential," said David Meniane, CEO of CarParts.com, Inc. "We remain focused on creating long-term shareholder value through our strategic initiatives and commitment to operational excellence in serving our customers with high-quality automotive parts and accessories."

About CarParts.com, Inc.
CarParts.com, Inc. is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories. Operating for over 25 years, CarParts.com has established itself as a premier destination for drivers seeking repair and maintenance solutions. Our commitment lies in placing the customer at the forefront of our operations, evident in our easy-to-use, mobile-friendly website and app. With a commitment to affordability and customer satisfaction, CarParts.com simplifies the automotive repair process, aiming to eliminate the uncertainty and stress often associated with vehicle maintenance. Backed by a robust company-operated fulfillment network, we ensure swift delivery of top-quality parts from leading brands to customers across the nation.

At CarParts.com, our global team is united by a shared vision: Empowering Drivers Along Their Journey.

CarParts.com is headquartered in Torrance, California.

Investor Relations:
Ryan Lockwood
IR@carparts.com



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Jan. 16, 2025
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