Craig-Hallum Capital Group and Roth Capital Partners are bookrunners
By Devika Patel
Knoxville, Tenn., Aug. 27 – Motorcar Parts of America, Inc. said it priced a $62.4 million public sale of stock with a $9.36 million greenshoe. The deal was announced on Aug. 20.
The company will sell 2.4 million common shares at $26.00 apiece. The price per share is a 6.61% discount to the Aug. 26 closing share price of $27.84.
Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC are the joint bookrunning managers.
Settlement is expected on Sept. 2.
Proceeds will be used for working capital and other general corporate purposes.
Los Angeles-based Motorcar provides remanufactured alternators and starters for the automotive aftermarket.
| Issuer: | Motorcar Parts of America, Inc
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| Issue: | Common shares
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| Amount: | $62.4 million
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| Greenshoe: | $9.36 million
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| Shares: | 2.4 million
|
| Price: | $26.00
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| Warrants: | No
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| Bookrunners: | Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC
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| Co-manager: | B. Riley & Co., LLC
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| Announcement date: | Aug. 20
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 2
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| Stock symbol: | Nasdaq: MPAA
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| Stock price: | $27.84 at close Aug. 26
|
| Market capitalization: | $462.69 million
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