U.S. Auto Parts Network, Inc. Prices Initial Public Offering of Common Stock
CARSON, Calif., Feb. 8 /PRNewswire-FirstCall/ -- U.S. Auto Parts Network, Inc. (Nasdaq: PRTS) announced today the pricing of its initial public offering of 10,000,000 shares of its common stock at a price to the public of $10.00 per share. There are 8,000,000 shares being offered by U.S. Auto Parts Network, Inc. (the "Company") and 2,000,000 shares being offered by selling stockholders. The net proceeds to the Company from this offering are intended to reduce the Company's outstanding indebtedness and for working capital and other general corporate purposes. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares at the initial public offering price to cover over-allotments, if any.
The shares will trade on the Nasdaq Global Select Market under the symbol "PRTS."
The offering is being made through an underwriting syndicate led by RBC Capital Markets and Thomas Weisel Partners LLC as joint book-runners for the offering. Piper Jaffray & Co. and JMP Securities LLC are acting as co-managers.
Copies of the final prospectus relating to the offering may be obtained from RBC Capital Markets, c/o Prospectus Department, One Liberty Plaza, 165 Broadway, New York, New York, 10006, or by telephone at 212-428-6200, fax: 212-428-6473 or from Thomas Weisel Partners LLC, One Montgomery Street, Suite 3700, San Francisco, California, 94101, or by telephone at 415-364-2500.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 8, 2007. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
SOURCE U.S. Auto Parts Network, Inc.
Released February 8, 2007