---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-012143"
form_type: "8-K"
ticker: null
cik: "0001698113"
company_name: "ID Auto, Inc."
filed_at: "2024-02-09T23:59:59+00:00"
generated_at: "2026-06-06T04:53:52.771354+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# PARTS iD bankruptcy court confirms prepackaged plan; existing equity cancelled, company to go private

## Summary
- Plan Sponsor Fifth Star will purchase $26M of New Preferred Stock; existing common stock cancelled and deregistered.
- Senior Secured Note Claims to receive aggregate cash of $4.2245M; Vendor Claims get 25% cash plus 30% over 36 months.
- Existing board replaced; Sam Yagan named sole director of reorganized PARTS iD; current officers continue.
- Plan effective date expected on or before February 16, 2024; company will cease to be publicly traded.

## SEC filing metadata
- accession: 0001213900-24-012143
- form_type: 8-K
- cik: 0001698113
- company_name: ID Auto, Inc.
- filed_at: 2024-02-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698113/000121390024012143/0001213900-24-012143-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698113/000121390024012143/ea193297-8k_partsid.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-012143
- JSON: https://secwatch.observer/filing/0001213900-24-012143.json
- Plain text: https://secwatch.observer/filing/0001213900-24-012143.txt

## Key facts
- Distress & Bankruptcy
  ID Auto, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-12-26).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the District of Delaware
  - Petition: 2023-12-26
  source text: filed voluntary petitions (the cases commenced thereby, the “Chapter 11 Cases”) under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) with a pre-packaged chapter 11 plan of reorganization
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698113/000121390024012143/0001213900-24-012143-index.htm

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