{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-015360","form_type":"8-K","ticker":"MPAA","cik":"0000918251","company_name":"MOTORCAR PARTS OF AMERICA INC","filed_at":"2023-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.568511+00:00","generated_at":"2026-06-17T08:47:17.349283+00:00","sec_items":["1.01","5.02","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Motorcar Parts of America issues $32M convertible notes at 10% to Bison Capital; Bison co-founder joins board","bullets":["Issued $32M aggregate principal of 10% convertible notes due 2029; conversion price ~$15 per share.","Interest at 10% per annum, compounded annually, payable in kind or cash starting April 1, 2024.","Company may redeem notes after March 31, 2026, subject to conditions including EBITDA > $80M and stock price thresholds.","Douglas Trussler, co-founder of Bison Capital, appointed to board effective immediately; not independent.","CEO Selwyn Joffe's employment agreement extended to July 1, 2027."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-015360","json":"https://secwatch.observer/filing/0001140361-23-015360.json","markdown":"https://secwatch.observer/filing/0001140361-23-015360.md","text":"https://secwatch.observer/filing/0001140361-23-015360.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/918251/000114036123015360/0001140361-23-015360-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/918251/000114036123015360/brhc10050670_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T08:47:17.349283+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"09efa7d9281860064c31c5873b4c352bbe9ddba1","claim":"MOTORCAR PARTS OF AMERICA INC incurred convertible notes of $32,000,000 in aggregate principal amount with Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P. at 10.0% per annum maturing March 30, 2029.","evidence_excerpt":"On March 31, 2023, Motorcar Parts of America, Inc. (the “Company”) entered into a note purchase agreement (the “Note Purchase Agreement”) with Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P. (collectively, the “Purchasers”) and Bison Capital Partners VI, L.P., as the purchaser representative (the “Purchaser Representative”), relating to the issuance and sale by the Company to the Purchasers of $32,000,000 in aggregate principal amount of the Company’s 10% Convertible Notes due 2029 (the “Notes”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/918251/000114036123015360/0001140361-23-015360-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$32,000,000 in aggregate principal amount"},{"label":"Counterparty","value":"Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P."},{"label":"Rate","value":"10.0% per annum"},{"label":"Maturity","value":"March 30, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"78c08d7427","claim":"Douglas Trussler was appointed as Director at MOTORCAR PARTS OF AMERICA INC.","evidence_excerpt":"the Board appointed Douglas Trussler to the Board, effective immediately","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/918251/000114036123015360/0001140361-23-015360-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"750a796545a6558308efc0c9d2f016eaad9ade20","claim":"MOTORCAR PARTS OF AMERICA INC entered into Note Purchase Agreement with Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P. valued at $32,000,000 (effective 2023-03-31).","evidence_excerpt":"On March 31, 2023, Motorcar Parts of America, Inc. (the “Company”) entered into a note purchase agreement (the “Note Purchase Agreement”) with Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P. (collectively, the “Purchasers”) and Bison Capital Partners VI, L.P., as the purchaser representative (the “Purchaser Representative”), relating to the issuance and sale by the Company to the Purchasers of $32,000,000 in aggregate principal amount of the Company’s 10% Convertible Notes due 2029 (the “Notes”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/918251/000114036123015360/0001140361-23-015360-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P."},{"label":"Value","value":"$32,000,000"},{"label":"Effective","value":"2023-03-31"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}