U.S. Auto Parts Network, Inc. Announces $6 Million Financing

         U.S. Auto Parts Network, Inc. Announces $6 Million Financing

PR Newswire

CARSON, Calif., March 25, 2013

CARSON, Calif., March 25, 2013 /PRNewswire/ -- U.S. Auto Parts Network, Inc.
(NASDAQ: PRTS) today announced that it has entered into a Securities Purchase
Agreement with certain accredited investors pursuant to which U.S. Auto Parts
has agreed to sell up to an aggregate of 4,149,997 shares of its Series A
Convertible Preferred Stock at a purchase price per share of $1.45 for
aggregate proceeds to the Company of approximately $6.0 million, subject to
the satisfaction of customary closing conditions. The transaction is expected
to close in a series of closing to occur later this week and early next week
and U.S. Auto Parts will use the net proceeds from the transaction to reduce
its revolving borrowings (without any permanent reduction in the related loan
commitments) under its credit agreement with JP Morgan Chase Bank, N.A.

This announcement is neither an offer to sell nor a solicitation of an offer
to buy any of these securities and shall not constitute an offer,
solicitation, or sale in any jurisdiction in which such offer, solicitation,
or sale is unlawful. The securities and the shares of common stock issuable
upon conversion of the securities have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or state securities
laws and may not be offered or sold in the United States absent registration
under the Securities Act or an applicable exemption from such registration
requirements and applicable state laws.

Forward-Looking Statements

In addition to historical facts, this press release contains forward-looking
statements that involve a number of risks and uncertainties such as those,
among others, relating to U.S. Auto Parts' expectations regarding the
completion, timing and size of the proposed offering.Among the factors that
could cause actual results to differ materially from those indicated in the
forward-looking statements are risks and uncertainties associated with the
satisfaction of customary closing conditions related to the proposed offering,
as well as risks and uncertainties associated with U.S. Auto Parts' business
and finances in general, and the other risks detailed in U.S. Auto Parts'
periodic filings with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. All forward-looking statements are
qualified in their entirety by this cautionary statement, and U.S. Auto Parts
undertakes no obligation to revise or update this press release to reflect
events or circumstances after the date hereof. This caution is made under the
safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.

Investor Contact:

David Robson, Chief Financial Officer
U.S. Auto Parts Network, Inc.
drobson@usautoparts.com
(310) 735-0085

SOURCE U.S. Auto Parts Network, Inc.

Website: http://www.usautoparts.net
 
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