secwatch.observer — SEC 8-K summary
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Issuer:     CarParts.com, Inc. (PRTS)
CIK:        0001378950
Form:       8-K
Filed at:   2026-06-16T20:45:24+00:00
Accession:  0001140361-26-025457
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/0001140361-26-025457-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378950/000114036126025457/ef20076252_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-025457

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