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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.
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