Carparts.Com Enters $75M Credit Facility Agreement

CarParts.Com Inc PRTS has entered into an amended and restated facility in place of their prior credit facility.
The agreement provides for a renewed five-year asset-based revolving credit facility with JPMorgan Chase Bank N.A. as administrative agent, sole lead arranger, and lender.
The credit facility includes an increased lender commitment of up to $75 million. It allows for an uncommitted ability to increase the ABL by an additional $75 million for a total potential capacity of $150 million. The credit facility is currently undrawn.
Price Action: PRTS shares are trading higher by 7.87% at $8.22 on the last check Tuesday.

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