secwatch.observer — SEC 8-K summary
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Issuer:     CarParts.com, Inc. (PRTS)
CIK:        0001378950
Form:       8-K
Filed at:   2022-06-21T23:59:59+00:00
Accession:  0001140361-22-023561
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378950/000114036122023561/0001140361-22-023561-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378950/000114036122023561/brhc10038928_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-023561

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