CarParts.com, one of the leading e-commerce providers of automotive parts and accessories, announced that it intends to offer 3 million shares of its common stock for sale in an underwritten public offering.
A selling shareholder of CarParts.com also intends to offer 2 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.