CarParts.com enters $75M asset-based credit facility with JPMorgan, expandable to $150M

CarParts.com, Inc.

New five-year ABL revolving facility with JPMorgan; $75M initial commitment subject to borrowing base availability.
Facility includes uncommitted accordion capacity of up to $75M for total potential $150M; currently undrawn.
Interest rate ranges from 1.50% to 2.00% per annum based on fixed charge coverage ratio; matures June 17, 2027.
Replaces prior credit facility; provides non-dilutive capital for strategic growth (per CFO Ryan Lockwood).
Q1 2022 revenue $166M, up 80% on two-year stack; ninth consecutive quarter of YoY sales growth.

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