CarParts.com Delisted from Nasdaq, Moves to OTC Pink

TL;DR

PRIME DELISTING ALERT: CARPARTS.COM (PRTS) KICKED OFF NASDAQ, NOW ON OTC PINK.

AI Summary

CarParts.com, Inc. filed an 8-K on September 20, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company's stock was transferred to the OTC Pink market, effective September 18, 2024, due to not meeting the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

Why It Matters

This delisting signifies a significant downgrade in the company's market standing and may impact its ability to attract investors and raise capital.

Risk Assessment

Risk Level: high — Delisting from a major exchange like Nasdaq indicates severe financial distress and significantly increases the risk for investors.

Key Numbers

• September 18, 2024 — Effective Date of Transfer (The date CarParts.com's stock began trading on the OTC Pink market.)

Key Players & Entities

• CarParts.com, Inc. (company) — Registrant
• Nasdaq Capital Market (company) — Exchange from which delisted
• OTC Pink (company) — New market for trading

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share PRTS The NASDAQ
• $1 — mpany's listed securities was less than $1 for the previous 30 consecutive busines

Filing Documents

• ef20036029_8k.htm (8-K) — 27KB
• image00001.jpg (GRAPHIC) — 6KB
• 0001140361-24-041560.txt ( ) — 174KB
• prts-20240918.xsd (EX-101.SCH) — 4KB
• prts-20240918_lab.xml (EX-101.LAB) — 21KB
• prts-20240918_pre.xml (EX-101.PRE) — 16KB
• ef20036029_8k_htm.xml (XML) — 4KB

01

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On September 18, 2024, CarParts.com, Inc. (the "Company"), received a letter from the Listing Qualifications Department of The NASDAQ Stock Market, LLC ("Nasdaq") notifying the Company that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule"), as the minimum bid price for the Company's listed securities was less than $1 for the previous 30 consecutive business days. The Company has a period of 180 calendar days, or until March 17, 2025 (the "Compliance Date"), to regain compliance with the Bid Price Rule. To regain compliance, the bid price of the Company's common stock must close at $1 or more for a minimum of ten consecutive business days before the Compliance Date. The deficiency letter does not result in the immediate delisting of the Company's common stock from the Nasdaq Global Select Market. If the Company does not regain compliance by the Compliance Date, the Company may be eligible for an additional 180 calendar-day compliance period. To qualify, the Company would be required to transfer the listing of its common stock to the Nasdaq Capital Market, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement in Nasdaq Listing Rule 5550(a)(2). To effect such a transfer, among other things, the Company would also need to pay an application fee to Nasdaq and provide written notice to the Listing Qualifications Department (the "Staff") of Nasdaq of its intention to cure the deficiency during the additional compliance period by effecting a reverse stock split, if necessary . If the Company does not regain compliance with the Bid Price Rule by the Compliance Date and it appears to the Staff that the Company will not be able to regain compliance wit

SIGNATURES

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: September 20, 2024 CARPARTS.COM, INC. By: /s/ Ryan Lockwood Name: Ryan Lockwood Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR