CARSON, CA – U.S. Auto Parts Network, an online provider of aftermarket auto parts, has announced the pricing of its initial public offering of 10,000,000 shares of its common stock at a price to the public of $10 per share. There are 8,000,000 shares being offered by U.S. Auto Parts Network, Inc. and 2,000,000 shares being offered by selling stockholders. The net proceeds to the company from this offering are intended to reduce the company’s outstanding indebtedness and for working capital and other general corporate purposes. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares at the initial public offering price to cover over-allotments, if any.
The shares will trade on the Nasdaq Global Select Market under the symbol “PRTS.”
The offering is being made through an underwriting syndicate led by RBC Capital Markets and Thomas Weisel Partners LLC, as joint book-runners for the offering. Piper Jaffray & Co. and JMP Securities LLC are acting as co-managers.
Copies of the final prospectus relating to the offering may be obtained from RBC Capital Markets, c/o Prospectus Department, One Liberty Plaza, 165 Broadway, New York, New York, 10006, or by telephone at 212-428-6200, fax: 212-428-6473 or from Thomas Weisel Partners LLC, One Montgomery Street, Suite 3700, San Francisco, California, 94101, or by telephone at 415-364-2500.
For more information about U.S. Auto Parts Network, go to: http://www.usautoparts.net.
