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REPORT</font></div>
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to Section&#160;13 or 15(d) of the</font></div>
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of Report (Date of earliest event reported) August 2, 2010</font></div>
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AUTO PARTS NETWORK, INC.</font></div>
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name of registrant as specified in its charter)</font></div>
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South Margay Avenue, Carson, CA 90746</font></div>
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of principal executive offices) (Zip Code)</font></div>
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telephone number, including area code (310) 735-0553</font></div>
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name or former address, if changed since last report)</font></div>
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    <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB2" style="LETTER-SPACING: 0pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 0pt">&#160;&#160;&#160;</font>&#160;Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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      communications pursuant to Rule 425 under the Securities Act (17 CFR
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              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
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      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
1.01. Entry into a Material Definitive Agreement.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On August
2, 2010, Go Fido, Inc. (the &#8220;Acquisition Sub&#8221;), a wholly-owned
subsidiary&#160;&#160;of U.S. Auto Parts Network, Inc. (&#8220;USAP&#8221;) entered into a
Stock Purchase Agreement (the &#8220;SPA&#8221;) with Automotive Specialty Accessories and
Parts, Inc. (&#8220;WAG&#8221;), 2000 Riverside Capital Appreciation Fund, L.P.
(&#8220;Riverside&#8221;) on its own behalf as a stockholder of WAG and as the stockholder
representative of all other stockholders of WAG, and the other stockholders of
WAG. Upon the terms and subject to the conditions set forth in the SPA and upon
closing of the transactions contemplated by the SPA, The Acquisition Sub will
purchase all of the outstanding capital stock of WAG, and WAG will become a
wholly owned subsidiary of the Acquisition Sub (the &#8220;Acquisition&#8221;).</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The base
purchase price payable at closing of the Acquisition will be $27.5 million if
the closing occurs on or before 11:59 p.m. Eastern standard time on August 12,
2010, $28 million if the closing occurs after 11:59 p.m. Eastern standard time
on August 12, 2010 but on or before 11:59 p.m. Eastern standard time on August
19, 2010, $28.5 million if the closing occurs after 11:59 p.m. Eastern standard
time on August 19, 2010 and on or before 11:59 p.m. Eastern standard time on
August 26, 2010, and $29 million if the closing occurs after 11:59 p.m. Eastern
standard time on August&#160;26, 2010.&#160;&#160;The purchase price will be
payable in cash.&#160;&#160;Approximately $22.9 million of the purchase price
will be used in part to repay certain indebtedness owed by WAG to various
creditors, to pay WAG&#8217;s selling expenses and bonuses payable to certain of WAG&#8217;s
employees and management in connection with the closing of the Acquisition.
$750,000 of the purchase price shall be usedto fund a reserve to be used by
Riverside in its capacity as stockholder representative to be used primarily to
fund adjustments under the working capital adjustment provision of the
Acquisition Agreement; which working capital adjustment and a cash adjustment
shall be made 30 days after closing.&#160;&#160;The remainder of the purchase
price will be paid to the holders of WAG&#8217;s preferred stock, except that all WAG
common stock and options and warrants to purchase WAG stock will be purchased
(in the case of the common stock) or cancelled (in the case of the options and
warrants) in connection with the closing of the Acquisition in exchange for
consideration of $1 per holder. USAP will guarantee all of the Acquisition Sub&#8217;s
obligations under the SPA pursuant to a separate guarantee delivered to WAG in
connection with the execution of the SPA (the &#8220;Guarantee&#8221;) which provides, among
other things, that WAG can pursue USAP directly for any breach of the
Acquisition Agreement by Acquisition Sub. In addition, the Acquisition Sub, in
connection with the closing of the Acquisition, will assume approximately
$11&#160;million of&#160;&#160;certain of WAG&#8217;s other existing obligations,
largely consisting of trade payables.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant
to the terms of the SPA, at the signing of the SPA, USAP delivered a $1 million
deposit (the &#8220;Deposit&#8221;), which is being held in escrow pending the closing of
the Acquisition or earlier termination of the SPA. If the Acquisition occurs,
the Deposit&#160;&#160;will be applied towards the purchase price payable at the
closing.&#160;&#160;If the SPA is terminated prior to closing, the Deposit will
be returned to USAP, unless the termination of the SPA was caused by Acquisition
Sub&#8217;s breach of the SPA, subject to certain limitations set forth in the SPA,
and in such case, the Deposit will be released to WAG.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
closing of the Acquisition is subject to certain closing conditions, including,
among other conditions, delivery of the applicable stock certificates,
applicable pay-off letters from certain creditors of WAG and releases from all
of WAG&#8217;s stockholders and management, as well as the absence of a material
adverse event with respect to WAG between the execution of the SPA and
closing.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The SPA
also contains limited representations, warranties and covenants from the parties
to one another, including certain pre-closing covenants from WAG whereby it
agrees during the period between signing of the SPA and closing of the
Acquisition to use commercially reasonable efforts to carry on WAG&#8217;s business in
accordance with a current business plan provided by WAG to the Acquisition Sub
at the time of signing the SPA and to refrain from engaging in certain types of
transactions or taking certain other actions during such period. Indemnification
provisions are very limited and, except for fraud, any indemnification is capped
at the amount of the proceeds received by the stockholder.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Prior to
the closing, WAG is also not permitted to solicit, encourage, or participate in
any discussions or negotiations or entertain any proposals to be acquired other
than pursuant to the SPA.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
foregoing description of the SPA does not purport to be complete and is
qualified in its entirety by reference to the full text of the SPA, which is
attached as Exhibit 10.57 to this Current Report on Form 8-K and is incorporated
herein by reference, and the full text of the Guarantee, which is attached as
Exhibit&#160;10.58 to this Current Report on Form 8-K and is incorporated herein
by reference. In particular, the SPA and the Guarantee and related descriptions
are not intended to be, and should not be relied upon as, disclosures regarding
any facts and circumstances relating to USAP or WAG.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
8.01. Other Events.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On August
2, 2010, USAP issued a press release announcing the execution of the SPA, a copy
of which is filed as Exhibit 99.1 to this Current Report on Form 8-K, and is
incorporated herein by reference.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Forward-Looking
Statements</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This
report and the exhibits filed herewith contain forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995.&#160;&#160;These statements include statements with respect to the
potential benefits to USAP and its customers of the Acquisition, the timing for
completing and integrating the Acquisition, WAG&#8217;s performance during 2010, the
markets in which USAP and WAG participate and that are targeted by the
Acquisition, and the complementary nature, synergies and other expected benefits
of the Acquisition to USAP.&#160;&#160;Actual results could vary materially from
those described as a result of a number of factors, including the risk that all
of the conditions to the Acqusition may not be satisfied or USAP may otherwise
fail to acquire WAG on a timely basis or at all; USAP may not be able to
successfully integrate the operations WAG on a timely basis or at all; that USAP
may not be able to retain key personnel of WAG after the Acqusition; that WAG
may be subject to unanticipated liabilities or accounting charges as a result of
the Acquisition; that WAG mayperform worse than expected during the remainder of
2010 or in future periods, that the demand for WAG&#8217;s products may be weaker than
anticipated in its target markets; that USAP may not be able to realize all or
some of the expected synergies and benefits from the Acquisition, and that
integrating WAG with USAP&#8217;s operations may cause USAP&#8217;s management to divert
more time and resources to those activities than anticipated, and other risks
and uncertainties described in USAP&#8217;s most recent Annual Report on Form 10-K,
most recent Quarterly Report on Form 10-Q and any subsequent SEC
filings.&#160;&#160;You are urged to consider statements that include the words
&#8220;may,&#8221; &#8220;will,&#8221; &#8220;would,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;believes,&#8221; &#8220;potential,&#8221; &#8220;expects,&#8221;
&#8220;plans,&#8221; &#8220;anticipates,&#8221; &#8220;intends,&#8221; or the negative of those words or other
comparable words to be uncertain and forward-looking.&#160;&#160;USAP undertakes
no obligation to update any forward-looking statements to reflect new
information, events or circumstances after the date they were made, or to
reflect the occurrence of unanticipated events.</font></div>
    <div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td align="left" valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item&#160;9.01.</font></div>
            </td>
            <td align="left" valign="top" width="95%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Financial
      Statements and Exhibits</font></div>
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left">&#160;</div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)
Exhibits. The following exhibits are filed with this Current Report on Form
8-K:</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="middle" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="middle" width="86%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit</font></div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">No.</font></div>
              </div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;</font></div>
            </td>
            <td valign="bottom" width="86%" style="BORDER-BOTTOM: black 2px solid">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block">
                <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description</font></div>
              </div>
            </td>
          </tr><tr>
            <td valign="middle" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="2" valign="middle" width="91%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.57</font></div>
            </td>
            <td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="top" width="86%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Stock
      Purchase Agreement executed August 2, 2010 among the Acquisition Sub, WAG,
      Riverside and the other stockholders of WAG</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.58</font></div>
            </td>
            <td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="top" width="86%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guarantee
      executed August 2, 2010 by USAP</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">99.1</font></div>
            </td>
            <td align="left" valign="bottom" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="86%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Press
      Release of August 2, 2010 announcing execution of
  SPA</font></div>
            </td>
          </tr></table>
    </div>
    <div><br>&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</font></div>
    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="middle" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="middle" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="middle" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="middle" width="42%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td align="left" valign="top" width="43%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dated:&#160;August
      3, 2010</font></div>
            </td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" colspan="3" valign="top" width="46%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">U.S.
      AUTO PARTS NETWORK, INC.</font></div>
            </td>
          </tr><tr>
            <td valign="middle" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="2" valign="middle" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="2" valign="middle" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="2" valign="middle" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="top" width="3%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:</font></div>
            </td>
            <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="42%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
              <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/&#160;&#160;&#160;&#160;T<font style="DISPLAY: inline; FONT-SIZE: 10pt">HEODORE</font> R. S<font style="DISPLAY: inline; FONT-SIZE: 10pt">ANDERS&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
            </td>
          </tr><tr>
            <td valign="top" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="42%" style="TEXT-ALIGN: left">
              <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Theodore
      R. Sanders</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="bottom" width="42%" style="TEXT-ALIGN: left">
              <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Chief
      Financial Officer</font></div>
            </td>
          </tr></table>
    </div><br>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT
INDEX</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="middle" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="2" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="2" valign="middle" width="91%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit</font></div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">No.</font></div>
              </div>
            </td>
            <td align="left" colspan="2" valign="bottom" width="4%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;</font></div>
            </td>
            <td colspan="2" valign="bottom" width="91%" style="BORDER-BOTTOM: black 2px solid">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block">
                <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description</font></div>
              </div>
            </td>
          </tr><tr>
            <td valign="middle" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td colspan="4" valign="middle" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.57</font></div>
            </td>
            <td colspan="2" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" colspan="2" valign="top" width="91%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Stock
      Purchase Agreement executed August 2, 2010 among the Acquisition Sub, WAG,
      Riverside and the other stockholders of WAG</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="5%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0.8pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10.58</font></div>
            </td>
            <td colspan="2" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
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wagbody_8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported) August 2, 2010
U.S.
AUTO PARTS NETWORK, INC.
(Exact
name of registrant as specified in its charter)
Delaware
001-33264
68-0623433
(State or other jurisdiction
of
      incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
17150
South Margay Avenue, Carson, CA 90746
(Address
of principal executive offices) (Zip Code)
Registrant's
telephone number, including area code (310) 735-0553
N/A
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
¨
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
¨
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
¨
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement.
On August
2, 2010, Go Fido, Inc. (the "Acquisition Sub"), a wholly-owned
subsidiary  of U.S. Auto Parts Network, Inc. ("USAP") entered into a
Stock Purchase Agreement (the "SPA") with Automotive Specialty Accessories and
Parts, Inc. ("WAG"), 2000 Riverside Capital Appreciation Fund, L.P.
("Riverside") on its own behalf as a stockholder of WAG and as the stockholder
representative of all other stockholders of WAG, and the other stockholders of
WAG. Upon the terms and subject to the conditions set forth in the SPA and upon
closing of the transactions contemplated by the SPA, The Acquisition Sub will
purchase all of the outstanding capital stock of WAG, and WAG will become a
wholly owned subsidiary of the Acquisition Sub (the "Acquisition").
The base
purchase price payable at closing of the Acquisition will be $27.5 million if
the closing occurs on or before 11:59 p.m. Eastern standard time on August 12,
2010, $28 million if the closing occurs after 11:59 p.m. Eastern standard time
on August 12, 2010 but on or before 11:59 p.m. Eastern standard time on August
19, 2010, $28.5 million if the closing occurs after 11:59 p.m. Eastern standard
time on August 19, 2010 and on or before 11:59 p.m. Eastern standard time on
August 26, 2010, and $29 million if the closing occurs after 11:59 p.m. Eastern
standard time on August 26, 2010.  The purchase price will be
payable in cash.  Approximately $22.9 million of the purchase price
will be used in part to repay certain indebtedness owed by WAG to various
creditors, to pay WAG's selling expenses and bonuses payable to certain of WAG's
employees and management in connection with the closing of the Acquisition.
$750,000 of the purchase price shall be usedto fund a reserve to be used by
Riverside in its capacity as stockholder representative to be used primarily to
fund adjustments under the working capital adjustment provision of the
Acquisition Agreement; which working capital adjustment and a cash adjustment
shall be made 30 days after closing.  The remainder of the purchase
price will be paid to the holders of WAG's preferred stock, except that all WAG
common stock and options and warrants to purchase WAG stock will be purchased
(in the case of the common stock) or cancelled (in the case of the options and
warrants) in connection with the closing of the Acquisition in exchange for
consideration of $1 per holder. USAP will guarantee all of the Acquisition Sub's
obligations under the SPA pursuant to a separate guarantee delivered to WAG in
connection with the execution of the SPA (the "Guarantee") which provides, among
other things, that WAG can pursue USAP directly for any breach of the
Acquisition Agreement by Acquisition Sub. In addition, the Acquisition Sub, in
connection with the closing of the Acquisition, will assume approximately
$11 million of  certain of WAG's other existing obligations,
largely consisting of trade payables.
Pursuant
to the terms of the SPA, at the signing of the SPA, USAP delivered a $1 million
deposit (the "Deposit"), which is being held in escrow pending the closing of
the Acquisition or earlier termination of the SPA. If the Acquisition occurs,
the Deposit  will be applied towards the purchase price payable at the
closing.  If the SPA is terminated prior to closing, the Deposit will
be returned to USAP, unless the termination of the SPA was caused by Acquisition
Sub's breach of the SPA, subject to certain limitations set forth in the SPA,
and in such case, the Deposit will be released to WAG.
The
closing of the Acquisition is subject to certain closing conditions, including,
among other conditions, delivery of the applicable stock certificates,
applicable pay-off letters from certain creditors of WAG and releases from all
of WAG's stockholders and management, as well as the absence of a material
adverse event with respect to WAG between the execution of the SPA and
closing.
The SPA
also contains limited representations, warranties and covenants from the parties
to one another, including certain pre-closing covenants from WAG whereby it
agrees during the period between signing of the SPA and closing of the
Acquisition to use commercially reasonable efforts to carry on WAG's business in
accordance with a current business plan provided by WAG to the Acquisition Sub
at the time of signing the SPA and to refrain from engaging in certain types of
transactions or taking certain other actions during such period. Indemnification
provisions are very limited and, except for fraud, any indemnification is capped
at the amount of the proceeds received by the stockholder.
Prior to
the closing, WAG is also not permitted to solicit, encourage, or participate in
any discussions or negotiations or entertain any proposals to be acquired other
than pursuant to the SPA.
The
foregoing description of the SPA does not purport to be complete and is
qualified in its entirety by reference to the full text of the SPA, which is
attached as Exhibit 10.57 to this Current Report on Form 8-K and is incorporated
herein by reference, and the full text of the Guarantee, which is attached as
Exhibit 10.58 to this Current Report on Form 8-K and is incorporated herein
by reference. In particular, the SPA and the Guarantee and related descriptions
are not intended to be, and should not be relied upon as, disclosures regarding
any facts and circumstances relating to USAP or WAG.
Item
8.01. Other Events.
On August
2, 2010, USAP issued a press release announcing the execution of the SPA, a copy
of which is filed as Exhibit 99.1 to this Current Report on Form 8-K, and is
incorporated herein by reference.
Forward-Looking
Statements
This
report and the exhibits filed herewith contain forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995.  These statements include statements with respect to the
potential benefits to USAP and its customers of the Acquisition, the timing for
completing and integrating the Acquisition, WAG's performance during 2010, the
markets in which USAP and WAG participate and that are targeted by the
Acquisition, and the complementary nature, synergies and other expected benefits
of the Acquisition to USAP.  Actual results could vary materially from
those described as a result of a number of factors, including the risk that all
of the conditions to the Acqusition may not be satisfied or USAP may otherwise
fail to acquire WAG on a timely basis or at all; USAP may not be able to
successfully integrate the operations WAG on a timely basis or at all; that USAP
may not be able to retain key personnel of WAG after the Acqusition; that WAG
may be subject to unanticipated liabilities or accounting charges as a result of
the Acquisition; that WAG mayperform worse than expected during the remainder of
2010 or in future periods, that the demand for WAG's products may be weaker than
anticipated in its target markets; that USAP may not be able to realize all or
some of the expected synergies and benefits from the Acquisition, and that
integrating WAG with USAP's operations may cause USAP's management to divert
more time and resources to those activities than anticipated, and other risks
and uncertainties described in USAP's most recent Annual Report on Form 10-K,
most recent Quarterly Report on Form 10-Q and any subsequent SEC
filings.  You are urged to consider statements that include the words
"may," "will," "would," "could," "should," "believes," "potential," "expects,"
"plans," "anticipates," "intends," or the negative of those words or other
comparable words to be uncertain and forward-looking.  USAP undertakes
no obligation to update any forward-looking statements to reflect new
information, events or circumstances after the date they were made, or to
reflect the occurrence of unanticipated events.
Item 9.01.
Financial
      Statements and Exhibits
(d)
Exhibits. The following exhibits are filed with this Current Report on Form
8-K:
Exhibit
No.
Description
10.57
Stock
      Purchase Agreement executed August 2, 2010 among the Acquisition Sub, WAG,
      Riverside and the other stockholders of WAG
10.58
Guarantee
      executed August 2, 2010 by USAP
99.1
Press
      Release of August 2, 2010 announcing execution of
  SPA
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: August
      3, 2010
U.S.
      AUTO PARTS NETWORK, INC.
By:
/s/    T
HEODORE
R. S
ANDERS
Theodore
      R. Sanders
Chief
      Financial Officer
EXHIBIT
INDEX
Exhibit
No.
Description
10.57
Stock
      Purchase Agreement executed August 2, 2010 among the Acquisition Sub, WAG,
      Riverside and the other stockholders of WAG
10.58
Guarantee
      executed August 2, 2010 by USAP
99.1
Press
      Release of August 2, 2010 announcing execution of SPA