U.S. Auto Parts files for 10M shares IPO |
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Fri, 12 Jan 2007 17:13
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NEW YORK (AFX) - Online aftermarket car parts retailer U.S. Auto Parts Network Inc. said it plans to sell 10 million shares between $10 to $12 per share in its pending initial public offering.In an amended Form S-1 filing Wednesday with the Securities and Exchange Commission, the company said it is offering 8 million shares, while 2 million are being offered through selling shareholders.Underwriters include RBC Capital Markets, Thomas Weisel Partners LLC, Piper Jaffray and JMP Securities. They are allowed to buy up to 1.5 million more shares to cover over-allotments. The company hopes to trade on the Nasdaq Global Market under the ticker 'PRTS.'The Carson, Calif.-based company provides automotive parts to the aftermarket, including items for car bodies, engines, performance parts and accessories, through a network of Web sites. These include http://www.partstrain.comand http://www.autopartswarehouse.com. For the year ended Dec. 31, 2005, the company booked sales of $59.7 million.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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