{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-26-025457","form_type":"8-K","ticker":"PRTS","cik":"0001378950","company_name":"CarParts.com, Inc.","filed_at":"2026-06-16T20:45:24+00:00","discovered_at":"2026-06-16T20:46:00.334956+00:00","generated_at":"2026-06-16T20:47:23.861346+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"CarParts.com secures $25M asset-based revolving credit facility from First Business Specialty Finance","bullets":["New $25M credit facility secured by substantially all assets; borrowing base calculated primarily on cash, receivables, and inventory.","Interest set at 1-month Term SOFR plus 3.25% per annum, reducible by up to 0.50% if Fixed Charge Coverage Ratio exceeds 1.25x.","Prior $0-balance JPMorgan Chase revolving credit facility terminated concurrent with new agreement.","Prepayment penalties: $750,000 if terminated before June 15, 2027; $500,000 if terminated on or after that date.","Facility matures March 31, 2028 with automatic one-year renewals; liquidity covenants require minimum $15M cash plus availability or $7.5M availability threshold."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-025457","json":"https://secwatch.observer/filing/0001140361-26-025457.json","markdown":"https://secwatch.observer/filing/0001140361-26-025457.md","text":"https://secwatch.observer/filing/0001140361-26-025457.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/ef20076252_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T20:47:23.861346+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":"ad72adb3a32ecbd782e7737b11a6498e69c5ea49","claim":"CarParts.com, Inc. incurred revolving credit of up to $25,000,000 with First Business Specialty Finance, LLC at 1 Month Term SOFR published by CME Group Benchmarks Administration Limited plus maturing March 31, 2028.","evidence_excerpt":"On June 15, 2026, CarParts.com, Inc. (the “Company”) entered into a Loan and Security Agreement (the “Credit Agreement”) with First Business Specialty Finance, LLC (“FBSF”) providing for an asset-based revolving credit facility in an aggregate maximum principal amount of up to $25,000,000 (the “Credit Facility”), secured by substantially all of the assets of the Company.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"up to $25,000,000"},{"label":"Counterparty","value":"First Business Specialty Finance, LLC"},{"label":"Rate","value":"1 Month Term SOFR published by CME Group Benchmarks Administration Limited plus"},{"label":"Maturity","value":"March 31, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"23f569a02ff65ec550810e08a93c5b310bd4877b","claim":"CarParts.com, Inc. entered into Loan and Security Agreement with First Business Specialty Finance, LLC valued at up to $25,000,000 (effective 2026-06-15).","evidence_excerpt":"On June 15, 2026, CarParts.com, Inc. (the “Company”) entered into a Loan and Security Agreement (the “Credit Agreement”) with First Business Specialty Finance, LLC (“FBSF”) providing for an asset-based revolving credit facility in an aggregate maximum principal amount of up to $25,000,000 (the “Credit Facility”), secured by substantially all of the assets of the Company.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"First Business Specialty Finance, LLC"},{"label":"Value","value":"up to $25,000,000"},{"label":"Effective","value":"2026-06-15"}],"fact_type":"material_agreement"},{"claim_id":"4a6bbbf34e353560b953aa1447b045c5a0afc217","claim":"CarParts.com, Inc. terminated JPM Credit Facility with JPMorgan Chase Bank valued at no amounts outstanding (effective 2026-06-15).","evidence_excerpt":"In connection with entering into the Credit Facility, the Company and JPMorgan Chase Bank terminated the Company’s revolving credit facility with JPMorgan Chase Bank (the “JPM Credit Facility”). At the time it was terminated, there were no amounts outstanding under the JPM Credit Facility.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank"},{"label":"Value","value":"no amounts outstanding"},{"label":"Effective","value":"2026-06-15"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}