Motorcar PoA (MPAA) Enters 1.94M Common Private Placement at $7.75/Share
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Motorcar Parts of America, Inc. (Nasdaq: MPAA) has entered into an agreement to raise approximately $15 million in gross proceeds through a private placement of its common stock.
Under the terms of the financing, the company will issue an aggregate 1,936,000 shares of common stock at a price of $7.75 per share. Motorcar Parts of America will use the proceeds to enhance the integration of its Fenco Automotive Products acquisition and for general corporate purposes to support the company's growth.
Under the terms of the financing, the company will issue an aggregate 1,936,000 shares of common stock at a price of $7.75 per share. Motorcar Parts of America will use the proceeds to enhance the integration of its Fenco Automotive Products acquisition and for general corporate purposes to support the company's growth.
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