Motorcar Parts of America, Inc. (NASDAQ:MPAA) Files An 8-K Unregistered Sales of Equity Securities

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Motorcar Parts of America, Inc. (NASDAQ:MPAA) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02.Unregistered Sales of Equity Securities.

On September 8, 2017, Motorcar Parts of America, Inc. (the “Company”) received an exercise notice for 516,129 shares of the Company’s voting common stock, par value $0.01 per share (“Common Stock”) to Wanxiang America Corporation (“Wanxiang”) upon the exercise in full of a warrant held by Wanxiang. The warrant gave Wanxiang the right to purchase up to 516,129 shares of Common Stock with an exercise price equal to $7.75.

Wanxiang paid the Company $3,999,999.75 for the exercise in accordance with the terms of the warrant, which was exercised in full and is no longer outstanding.

The shares of Common Stock will be issued to exemptions from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), as a transaction by an issuer not involving any public offering. The resale of such securities issued to Wanxiang upon the exercise of the warrant has been registered on a Post-Effective Amendment to Form S-1 filed on March 3, 2014.


About Motorcar Parts of America, Inc. (NASDAQ:MPAA)

Motorcar Parts of America, Inc. is a manufacturer, remanufacturer and distributor of automotive aftermarket parts, including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. The Company sells its products in North America to auto parts retail and traditional warehouse chains and to automobile manufacturers for both their aftermarket programs and their warranty replacement programs (OES). It recycles materials, including metal from the used cores and corrugated packaging. The Company carries over 13,000 stock keeping units (SKUs) for automotive parts that are sold under its customers’ recognized private label brand names and its Quality-Built, Pure Energy, Xtreme, Reliance and other brand names. It sells its products to automotive retail outlets and the professional repair market throughout the United States and Canada.