Parts iD is evaluating evaluating potential strategic alternatives

PARTS iD announced that its Board of Directors, led by its Finance & Business Development Committee, is evaluating potential strategic alternatives to maximize shareholder value. As part of the process, the Board is considering a full range of strategic alternatives, which may include financing alternatives, merger, reverse merger, other business combinations, sale of assets, licensing, or other transactions. PARTS iD has retained Canaccord Genuity as its financial advisor and DLA Piper as its legal counsel to assist in evaluating potential strategic alternatives. There can be no assurance that the evaluation of strategic alternatives will result in any potential transaction, or any assurance as to its outcome or timing.