CarParts.com Amends Credit Agreement
Ticker: PRTS · Form: 8-K · Filed: Apr 30, 2024 · CIK: 1378950
| Field | Detail |
|---|---|
| Company | Carparts.Com, Inc. (PRTS) |
| Form Type | 8-K |
| Filed Date | Apr 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: credit-agreement, amendment, debt
Related Tickers: CPRT
TL;DR
CPRT amended its credit agreement on 4/24. Details in filing.
AI Summary
On April 24, 2024, CarParts.com, Inc. entered into a Material Definitive Agreement, specifically a Second Amendment to its Credit Agreement. This amendment modifies the terms of their existing credit facility, impacting the rights of security holders. The filing also includes financial statements and exhibits related to this amendment.
Why It Matters
This amendment to CarParts.com's credit agreement could affect its financial flexibility and borrowing capacity, potentially impacting future operations and investments.
Risk Assessment
Risk Level: medium — Amendments to credit agreements can signal changes in a company's financial health or strategic direction, requiring closer scrutiny.
Key Players & Entities
- CarParts.com, Inc. (company) — Registrant
- April 24, 2024 (date) — Date of earliest event reported
- Second Amendment to its Credit Agreement (agreement) — Material Definitive Agreement
- Delaware (jurisdiction) — State of incorporation
- 2050 W. 190th Street, Suite 400 (address) — Principal executive offices
- Torrance, CA (location) — Principal executive offices location
- 90504 (zip_code) — Principal executive offices zip code
- ( 724 ) 702-1455 (phone_number) — Registrant's telephone number
FAQ
What specific changes were made in the Second Amendment to the Credit Agreement?
The filing indicates a 'Second Amendment to its Credit Agreement' was entered into on April 24, 2024, but the specific details of the modifications are not provided in this summary section.
What is the primary purpose of this 8-K filing?
The primary purpose is to report the entry into a Material Definitive Agreement, specifically an amendment to CarParts.com's Credit Agreement, and to provide related financial statements and exhibits.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on April 24, 2024.
What is CarParts.com, Inc.'s principal executive office address?
CarParts.com, Inc.'s principal executive office is located at 2050 W. 190th Street, Suite 400, Torrance, CA 90504.
What is the company's telephone number?
The registrant's telephone number, including area code, is (724) 702-1455.
Filing Stats: 566 words · 2 min read · ~2 pages · Grade level 9.2 · Accepted 2024-04-30 16:05:18
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value per share PRTS The Nasdaq
Filing Documents
- ef20028013_8k.htm (8-K) — 28KB
- ef20028013_ex4-2.htm (EX-4.2) — 23KB
- image00001.jpg (GRAPHIC) — 10KB
- 0001140361-24-023369.txt ( ) — 216KB
- prts-20240424.xsd (EX-101.SCH) — 4KB
- prts-20240424_lab.xml (EX-101.LAB) — 21KB
- prts-20240424_pre.xml (EX-101.PRE) — 16KB
- ef20028013_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. On April 24, 2024, CarParts.com, Inc. (the "Company") entered into Amendment No. 1 to the Tax Benefits Preservation Plan (the "Amendment"). The Amendment makes clarifying changes relating to the definition of "Beneficial Owner", "Beneficially Own" and "Beneficial Ownership" contained in the Tax Benefits Preservation Plan, dated as of April 5, 2024 (the "Tax Plan"), between the Company and Computershare Trust Company, N.A., as rights agent. The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 4.2 and is incorporated by reference.
03
Item 3.03. Material Modification to Rights of Security Holders . The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.2 Amendment No. 1 to Tax Benefits Preservation Plan, dated as of April 24, 2024, between CarParts.com, Inc. and Computershare Trust Company, N.A., as rights agent. 104 Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARPARTS.COM, INC. Date: April 30, 2024 By: /s/ David Meniane Name: David Meniane Title: Chief Executive Officer