---
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"
generated_at: "2026-06-16T20:47:23.861346+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CarParts.com secures $25M asset-based revolving credit facility from First Business Specialty Finance

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-025457
- JSON: https://secwatch.observer/filing/0001140361-26-025457.json
- Plain text: https://secwatch.observer/filing/0001140361-26-025457.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: up to $25,000,000
  - Counterparty: First Business Specialty Finance, LLC
  - Rate: 1 Month Term SOFR published by CME Group Benchmarks Administration Limited plus
  - Maturity: March 31, 2028
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: First Business Specialty Finance, LLC
  - Value: up to $25,000,000
  - Effective: 2026-06-15
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm
- Material Agreements
  CarParts.com, Inc. terminated JPM Credit Facility with JPMorgan Chase Bank valued at no amounts outstanding (effective 2026-06-15).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank
  - Value: no amounts outstanding
  - Effective: 2026-06-15
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.