CARPARTS.com secures $25M revolving credit facility with First Business Bank

CarParts.com, Inc. (NASDAQ: PRTS) has entered into a $25 million revolving credit facility with First Business Bank, according to a press release from the Long Beach, California-based company.

The credit facility matures in March 2028. Additional details will be disclosed in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

David Meniane, Chief Executive Officer of CarParts.com, said: "This credit facility, along with our already strong balance sheet, represents a significant milestone for the Company and underscores the strong confidence our lending partner has in our business model."

Dorsey & Whitney LLP acted as legal counsel to CarParts.com in connection with the transaction.

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