Motorcar Parts of America Closes $15 Million Private Placement

Motorcar Parts of America, Inc. has announced it has closed a private placement of common stock, raising US$15.0 million in gross proceeds.

Under the terms of the financing, the company issued 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.