Motor Parts of America today completed its
previously announced underwritten public offering of 2,760,000 shares of its
common stock at a price to the public of $26 per share for estimated net
proceeds of approximately $66.9 million.
The offering includes the exercise in full by
the underwriters of their option to purchase up to 360,000 additional shares of
common stock. Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC
acted as joint book-running managers for the offering; B. Riley & Co., LLC acted
as co-manager for the offering.
The automotive aftermarket parts manufacturer
and dealer said it plans to use the net proceeds of the offering for working
capital and other general corporate purposes.
Motorcar Parts of America sells its products
and re-manufactured units to automotive retail outlets and the broader
professional repair market throughout the United States and Canada. The company
has production facilities located in California, Mexico, Malaysia and China,
and administrative offices located in California, Tennessee, Mexico, Singapore
and Malaysia.
For more information visit
www.motorcarparts.com.
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