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    Amendment: SEC Form SC 13D/A filed by Motorcar Parts of America Inc.

    7/30/24 1:05:54 PM ET
    $MPAA
    Auto Parts:O.E.M.
    Consumer Discretionary
    Get the next $MPAA alert in real time by email
    SC 13D/A 1 sc13da213281005_07302024.htm

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

    SCHEDULE 13D

    (Rule 13d-101)

    INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

    TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

    § 240.13d-2(a)

    (Amendment No. 2)1

    Motorcar Parts of America, Inc.

    (Name of Issuer)

    Common Stock, $0.01 par value per share

    (Title of Class of Securities)

    620071100

    (CUSIP Number)

    Michael Braner

    325 Capital LLC

    200 Park Avenue 17th Floor

    New York, NY 10016

    (646) 774-2904

    (Name, Address and Telephone Number of Person

    Authorized to Receive Notices and Communications)

     

    July 26, 2024

    (Date of Event Which Requires Filing of This Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.

    Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.

     

     

     

    1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

    CUSIP No. 620071100

      1   NAME OF REPORTING PERSON  
             
            325 Capital Master Fund LP  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            WC  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Cayman Islands  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         264,608  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              264,608  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            264,608  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            1.3%  
      14   TYPE OF REPORTING PERSON  
             
            PN  

      

    2

    CUSIP No. 620071100

      1   NAME OF REPORTING PERSON  
             
            325 Capital GP LLC  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            AF  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Delaware  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         264,608  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              264,608  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            264,608  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            1.3%  
      14   TYPE OF REPORTING PERSON  
             
            OO  

      

    3

    CUSIP No. 620071100

     

      1   NAME OF REPORTING PERSON  
             
            325 Capital LLC  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            AF  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            Delaware  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         1,405,057  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              1,405,057  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            1,405,057  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            7.1%  
      14   TYPE OF REPORTING PERSON  
             
            OO  

      

    4

    CUSIP No. 620071100

     

      1   NAME OF REPORTING PERSON  
             
            Michael Braner  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            AF  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            United States  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         1,405,057  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              1,405,057  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            1,405,057  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            7.1%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    5

    CUSIP No. 620071100

     

      1   NAME OF REPORTING PERSON  
             
            Daniel Friedberg  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            AF  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            United States  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         1,405,057  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              1,405,057  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            1,405,057  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            7.1%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    6

    CUSIP No. 620071100

     

      1   NAME OF REPORTING PERSON  
             
            Anil Shrivastava  
      2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐
            (b) ☐
               
      3   SEC USE ONLY    
               
               
      4   SOURCE OF FUNDS  
             
            AF  
      5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)     ☐
           
               
      6   CITIZENSHIP OR PLACE OF ORGANIZATION  
             
            United States  
    NUMBER OF   7   SOLE VOTING POWER  
    SHARES          
    BENEFICIALLY         - 0 -  
    OWNED BY   8   SHARED VOTING POWER  
    EACH          
    REPORTING         1,405,057  
    PERSON WITH   9   SOLE DISPOSITIVE POWER  
             
              - 0 -  
        10   SHARED DISPOSITIVE POWER  
               
              1,405,057  
      11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
             
            1,405,057  
      12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES     ☐
           
               
      13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
             
            7.1%  
      14   TYPE OF REPORTING PERSON  
             
            IN  

      

    7

    CUSIP No. 620071100

     

    The following constitutes Amendment No. 2 to the Schedule 13D filed by the undersigned (the “Amendment No. 2”). This Amendment No. 2 amends the Schedule 13D as specifically set forth herein.

    Item 4.Purpose of Transaction.

    Items 4 is hereby amended to add the following:

    On July 26, 2024, the Issuer announced the nomination of Anil Shrivastava for election to the board of directors of the Issuer at the Issuer’s 2024 annual meeting of stockholders scheduled to be held on September 5, 2024.

    Item 5.Interest in Securities of the Issuer.

    Items 5(a) and (b) are hereby amended and restated to read as follows:

    (a)As of the close of business on July 29, 2023, the Reporting Persons beneficially owned an aggregate of 1,405,057 Shares, which represented 7.1% of the outstanding Shares, based upon 19,753,585 Shares outstanding as of July 16, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on July 26, 2024.

    (b)Sole power to vote or direct the vote: 0
    Shared power to vote or direct the vote: 1,405,057
    Sole power to dispose or to direct the disposition: 0
    Shared power to dispose or direct the disposition: 1,405,057

    8

    CUSIP No. 620071100

    SIGNATURES

    After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

    Dated: July 30, 2024

      325 CAPITAL MASTER FUND LP
       
      By: 325 Capital GP, LLC, its General Partner
         
      By:

    /s/ Michael Braner

        Name: Michael Braner
        Title: Managing Member

     

     

      325 CAPITAL GP LLC
       
      By:

    /s/ Michael Braner

        Name: Michael Braner
        Title: Managing Member

     

     

      325 CAPITAL LLC
       
      By:

    /s/ Michael Braner

        Name: Michael Braner
        Title: Managing Partner

     

     

      MICHAEL BRANER
       
      By:

    /s/ Michael Braner

        Name: Michael Braner

     

     

      DANIEL FRIEDBERG
       
      By:

    /s/ Daniel Friedberg

        Name: Daniel Friedberg

     

     

      ANIL SHRIVASTAVA
       
      By:

    /s/ Anil Shrivastava

        Name: Anil Shrivastava

     

    9

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      LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the appointment of Jamy Rankin to its board of directors --reflecting the company’s strong commitment to board diversity and solid corporate governance policies. The Motorcar Parts of America board now consists of ten directors, nine of whom are independent. “Jamy offers a wealth of automotive aftermarket experience that will be invaluable to the company as we continue to grow. We look forward to her advice and counsel at an exciting time in the company’s evolution,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc. Rankin, 57, most re

      1/4/21 4:00:00 PM ET
      $MPAA
      Auto Parts:O.E.M.
      Consumer Discretionary

    $MPAA
    Financials

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    • Motorcar Parts of America to Report Fiscal 2025 Fourth Quarter and Year-End Results; Host Conference Call

      Motorcar Parts of America, Inc. (NASDAQ:MPAA) today announced the company will issue its fiscal 2025 fourth quarter and year-end results on Monday, June 9, 2025. Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call the same day at 10:00 a.m. Pacific time to discuss the company's financial results and operations. The call will be open to all interested investors either through a live audio Web broadcast via the company's investor relations tab at www.motorcarparts.com or live by calling (888) 440-5584 (domestic) or (646) 960-0457 (international). For those who are not available to listen to the live b

      6/3/25 8:00:00 AM ET
      $MPAA
      Auto Parts:O.E.M.
      Consumer Discretionary
    • Motorcar Parts of America Reports Record Fiscal Third Quarter Results

      - Record Sales and Gross Profit with Strong Cash Flow Generation - Motorcar Parts of America, Inc. (NASDAQ:MPAA) today reported results for its fiscal 2025 third quarter and nine-month period ended December 31, 2024, with a continued favorable full-year outlook supported by record third quarter sales and gross profit, and the ongoing benefits of strategic initiatives to further enhance profitability. Key highlights for the fiscal third quarter. Net sales increased 8.3 percent to a fiscal third quarter record $186.2 million. Gross profit increased 49.4 percent to a record $44.9 million. Net income for the quarter was $2.3 million. Generated cash from operating activities of $

      2/10/25 8:00:00 AM ET
      $MPAA
      Auto Parts:O.E.M.
      Consumer Discretionary
    • Motorcar Parts of America to Report Fiscal 2025 Third Quarter Results; Host Conference Call

      Motorcar Parts of America, Inc. (NASDAQ:MPAA) today announced the company will issue its fiscal 2025 third quarter results on Monday, February 10, 2025. Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call the same day at 10:00 a.m. Pacific time to discuss the company's financial results and operations. The call will be open to all interested investors either through a live audio Web broadcast via the company's investor relations tab at www.motorcarparts.com or live by calling (888) 440-5584 (domestic) or (646) 960-0457 (international). For those who are not available to listen to the live broadcast,

      1/31/25 8:00:00 AM ET
      $MPAA
      Auto Parts:O.E.M.
      Consumer Discretionary

    $MPAA
    Insider purchases explained

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    • Stock Movement: Insider Purchase at Motorcar Parts of America Inc. on Jun 17

      Recently, on June 17, 2024, Director Bison Capital Partners Vi, L.P. made a significant move by purchasing $874,000 worth of Motorcar Parts of America Inc. shares. This purchase consisted of 150,000 units at a price of $5.83 per share, marking a substantial increase in direct ownership by 150% to 250,000 units as reported in SEC Form 4. The timing and scale of this insider purchase are noteworthy as it indicates a strong belief in the company's future prospects. Examining the series of insider transactions involving Motorcar Parts of America Inc. insiders, there seem to be interesting patterns emerging. In particular, Ferguson Joseph Edwin, Rankin Jamy P., and Gay Philip all converted optio

      6/18/24 10:09:31 PM ET
      $MPAA
      Auto Parts:O.E.M.
      Consumer Discretionary
    • Stock Movement: Insider Purchase at Motorcar Parts of America Inc. on Jun 18

      On June 18, 2024, Director Bison Capital Partners Vi, L.P. bought $116,319 worth of shares (20,300 units at $5.73), increasing their direct ownership by 8% to 270,300 units, as reported in SEC Form 4. This insider purchase indicates a strong show of confidence in the future prospects of Motorcar Parts of America Inc. When analyzing this transaction alongside other recent activities by company insiders, some interesting patterns emerge. Gay Philip converted options into 6,596 shares, increasing his direct ownership by 18% to 42,576 units back on November 16, 2023. This move indicated a bullish sentiment from an insider perspective. However, not all insider activities were positive. Borneo R

      6/18/24 10:06:20 PM ET
      $MPAA
      Auto Parts:O.E.M.
      Consumer Discretionary