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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Washington,
  D.C.&#160; 20549</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
  to Section&nbsp;13 or 15(d)&nbsp;of the</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Securities
  Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">June&nbsp;12,
  2008</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Date of Report
  (Date of earliest event reported)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">KapStone Paper and Packaging Corporation</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Exact name of
  registrant as specified in its charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Delaware</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">000-51150</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">20-2699372</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(State or other
    jurisdiction<br>
    of incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Commission<br>
    File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(IRS Employer<br>
    Identification No.)</font></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="66%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">1101
    Skokie Boulevard, Suite&nbsp;300 Northbrook, Illinois</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">60062</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="66%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:66.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Address of
    principal executive offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Zip Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">(847)&nbsp;239-8800</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Registrant&#146;s
  telephone number, including area code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended
  to simultaneously satisfy the filing obligation of the registrant under any of
  the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Written communications pursuant to Rule&nbsp;425
  under the Securities Act (17 CFR 230.425)</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Soliciting material pursuant to Rule&nbsp;14a-12
  under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement communications pursuant to
  Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</p>
  
  <p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement communications pursuant to
  Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\vmeane\08-16525-2\task2986839\16525-2-ba.htm',USER='vmeane',CD='Jun 13 12:46 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="font-size:12.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Item&nbsp;1.01</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Entry
  into a Material Definitive Agreement.</b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On June&nbsp;12,
  2008, KapStone Paper and Packaging Corporation (&#147;KapStone&#148;) entered into a
  Credit Agreement, dated as of June&nbsp;12, 2008 (the &#147;Senior Credit
  Agreement&#148;), among KapStone, KapStone Kraft Paper Corporation, as borrower, the
  other subsidiaries of KapStone named therein, as guarantors, the lenders named
  therein, and Bank of America, N.A., as Administrative Agent, Swing Line Lender
  and L/C Issuer.&nbsp;&nbsp;The Senior Credit Agreement provides for an
  aggregate of up to $555,000,000 in senior secured credit facilities (the
  &#147;Senior Credit Facilities&#148;), consisting of a $390,000,000 term A loan facility,
  a term B loan facility of up to $65,000,000 and a $100,000,000 revolving credit
  facility (including a letter of credit subfacility).&nbsp;&nbsp;The proceeds
  from the borrowing of the term loan facilities are expected to be used,
  together with cash on hand, to finance the consideration for KapStone&#146;s
  acquisition of the North Charleston Kraft Division (&#147;Charleston&#148;) from
  MeadWestvaco Corporation, to repay certain existing indebtedness, and to pay
  transaction fees and expenses. The Senior Credit Facilities are guaranteed by
  KapStone and KapStone&#146;s other domestic subsidiaries and are secured by
  substantially all the assets of KapStone and the borrower and guarantor subsidiaries,
  including all of the capital stock of the borrower and guarantor subsidiaries
  and up to 66% of the capital stock of KapStone&#146;s foreign subsidiaries.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  term A loan facility is required to be repaid by KapStone in consecutive
  quarterly installments of $7,312,500 from September&nbsp;30, 2008 to June&nbsp;30,
  2009, $9,750,000 from September&nbsp;30, 2009 to June&nbsp;30, 2010,
  $12,187,500 from September&nbsp;30, 2010 to March&nbsp;31, 2013, with a final
  payment of all outstanding principal and interest on the maturity date.&#160; The term&nbsp;B loan facility includes a term
  B-1 loan of $25,000,000 and a term B-2 loan of up to $40,000,000 (the term B-2
  commitment is reduced on a dollar for dollar basis to the extent KapStone
  issues certain private placement notes due 2015 prior to the funding of the
  term B-2 loan).&#160; The term B-1 loan is
  required to be repaid by KapStone in consecutive quarterly installments of
  $468,750 from September&nbsp;30, 2008 to June&nbsp;30, 2009, $625,000 from September&nbsp;30,
  2009 to June&nbsp;30, 2010, $781,250 from September&nbsp;30, 2010 to March&nbsp;31,
  2015 and $5,781,250 on the maturity date.&#160;
  The following percentages of the original outstanding principal amount
  of the term B-2 loan, if any, is required to be repaid by Kaptone in
  consecutive quarterly installments:&#160;
  1.875% from September&nbsp;30, 2008 to June&nbsp;30, 2009; 2.500% from September&nbsp;30,
  2009 to June&nbsp;30, 2010; 3.125% from September&nbsp;30, 2010 to March&nbsp;31,
  2015; and 23.125% on the maturity date.&#160;
  Borrowings under the revolving credit facility may be used for working
  capital and other general corporate purposes and are required to be repaid in
  full on the maturity date.&#160; The maturity
  date is the earlier of:&#160; (a)&nbsp;June&nbsp;12,
  2013 with respect to the term A loan facility and the revolving credit facility
  and June&nbsp;12, 2015 with respect to the term B loan facility and (b)&nbsp;the
  date which is 90 days prior to the date on which any earn-out obligations to
  International Paper will become (or are reasonably expected to become) due;
  provided that the maturity date will not be so accelerated if, among other
  things, the total leverage ratio is of the end of the then most recent fiscal
  quarter is less than 2.0 to 1.0.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Outstanding
  principal under the term B loan facility bears interest at a rate equal to, at
  KapStone&#146;s option, either (1)&nbsp;the base rate (which is the higher of the
  then current Federal Funds rate plus 0.5% of the prime rate most recently
  announced by Bank of America, N.A., the administrative agent under the Senior
  Credit Facilities) plus a margin of 2.00% or (2)&nbsp;the reserve adjusted one,
  two, three or six-month Eurodollar rate plus a margin of 3.50%.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\vmeane\08-16525-2\task2986839\16525-2-ba.htm',USER='vmeane',CD='Jun 13 12:46 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Outstanding
  principal under the term A loan facility and the revolving credit facility
  initially bears interest at a rate equal to, at KapStone&#146;s option, either (1)&nbsp;the
  base rate plus a margin of 1.50%, or (2)&nbsp;the reserve adjusted one, two,
  three or six-month Eurodollar rate plus a margin of 3.00%.&nbsp;&nbsp;The
  undrawn portion of the revolving credit facility is subject to an unused line
  fee calculated initially at an annual rate of 0.50%.&nbsp;&nbsp;Commencing six
  months after the closing of the Senior Credit Facilities, pricing under the
  term A loan facility and the revolving credit facility and the unused line fee
  for the revolving credit facility will be determined by reference to a pricing
  grid based on KapStone&#146;s total leverage ratio.&nbsp;&nbsp;Under the pricing
  grid, the applicable margins for the term A loan facility and the revolving
  credit facility will range from 0.0% to 1.5% for base rate loans and from 1.50%
  to 3.00% for Eurodollar loans, and the unused line fee for the revolving credit
  facility will range from 0.375% to 0.50%.&nbsp;&nbsp;Outstanding letters of
  credit are subject to an annual fee equal to the applicable margin for
  Eurodollar loans under the revolving credit facility as in effect from time to
  time, plus a fronting fee on the undrawn amount thereof.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  term loan facilities and the revolving credit facility may be prepaid at any
  time without premium.&#160; The Senior Credit
  Facilities are subject to mandatory prepayment with specified percentages of
  the net cash proceeds of certain asset dispositions, casualty events, exercise
  of outstanding warrants and debt and equity issuances and with excess cash
  flow, in each case subject to certain conditions.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Senior Credit Facilities contain covenants that restrict, among other things,
  the ability of KapStone and its subsidiaries to create liens, incur
  indebtedness and guarantees, make certain investments or acquisitions, merge or
  consolidate, dispose of assets, pay dividends, repurchase or redeem capital
  stock and subordinated indebtedness, change the nature of their business, enter
  into certain transactions with affiliates, and make changes in accounting
  policies or practices except as required by generally accepted accounting
  principles.&nbsp;&nbsp;The Senior Credit Facilities also contain a total
  leverage ratio covenant and a fixed charge coverage ratio.&nbsp;&nbsp;The
  Senior Credit Facilities contain events of default including, but not limited
  to, nonpayment of principal or interest, violation of covenants, breaches of
  representations and warranties, cross-default to other indebtedness, bankruptcy
  and other insolvency events, material judgments, certain ERISA events, actual
  or asserted invalidity of loan documentation and certain changes of control of
  KapStone.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  funding of the Senior Credit Facilities is subject to certain closing
  conditions, including the simultaneous closing of KapStone&#146;s purchase of
  Charleston from MeadWestvaco Corporation.&#160;
  KapStone is required to pay a ticking fee until such funding equal to
  0.50% per annum of the total committed principal amount of the Senior Credit
  Facilities.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  foregoing description of the Senior Credit Facilities is qualified in its
  entirety by reference to the text of the Senior Credit Agreement, which is
  attached hereto as Exhibit&nbsp;99.1 and is incorporated herein by reference.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A copy
  of the press release announcing the Senior Credit Facilities is attached hereto
  as Exhibit&nbsp;99.2 and is incorporated herein by reference.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\vmeane\08-16525-2\task2986839\16525-2-ba.htm',USER='vmeane',CD='Jun 13 12:46 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CAUTIONARY
  STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain
  matters discussed in this Form&nbsp;8-K, including statements regarding the
  proposed acquisition of Charleston, the expected timetable for completing the
  transaction, future financial and operating results, benefits and synergies of
  the transaction, future opportunities for KapStone after the acquisition and
  any other statements about management&#146;s future expectations, beliefs, goals,
  plans or prospects constitute &#147;forward-looking statements&#148; intended to qualify
  for the safe harbor from liability established by the U.S. Private Securities
  Litigation Reform Act of 1995.&#160; These
  forward-looking statements are based on management&#146;s beliefs, assumptions and
  current expectations and are subject to certain risks and uncertainties which
  could cause actual results to differ materially from those presented in these
  forward-looking statements.&#160; The
  potential risks and uncertainties include, among others, the possibility that
  the transaction will not close or that the closing may be delayed, the ability
  of Kapstone to successfully integrate the Charleston&#146;s operations and
  employees, the ability to realize anticipated synergies and cost savings,
  general economic conditions and industry specific conditions.&#160; In addition, please refer to the documents
  that KapStone files with the Securities and Exchange Commission on Forms 10-K,
  10-Q and 8-K.&#160; These filings identify and
  address other important factors that could cause KapStone&#146;s financial and
  operational results to differ materially from those contained in the
  forward-looking statements set forth in this document.&#160; Accordingly, readers are cautioned not to
  place undue reliance on these forward-looking statements, which speak only as
  of the date hereof.&#160; Except to the extent
  required by law, KapStone undertakes no obligation to publicly revise these
  forward-looking statements to reflect events or circumstances that arise after
  the date hereof.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial
  Statements and Exhibits</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibits</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="95%" style="border-collapse:collapse;margin-left:.25in;width:95.0%;">
   <tr>
    <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.52%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.5%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Credit Agreement, dated as of June&nbsp;12, 2008, by
    and among KapStone Kraft Paper Corporation, as Borrower, KapStone Paper and
    Packaging Corporation, as Parent, the Subsidiaries of the Borrower identified
    therein, as Guarantors, Bank of America, N.A., as Administrative Agent, Swing
    Line Lender and L/C Issuer, and the Other Lenders Party thereto.</font></p>
    </td>
   </tr>
   <tr>
    <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.52%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.5%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.52%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="91%" valign="top" style="padding:0in 0in 0in 0in;width:91.5%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated June&nbsp;12, 2008</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\vmeane\08-16525-2\task2986839\16525-2-ba.htm',USER='vmeane',CD='Jun 13 12:46 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities and
  Exchange Act of 1934, the registrant has duly caused this report to be signed
  on its behalf by the undersigned hereunto duly authorized.</font></p>
  
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&#160; June&nbsp;12, 2008</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">KAPSTONE PAPER AND PACKAGING<br>
    CORPORATION</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.08%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Roger W. Stone</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Roger W. Stone</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief
    Executive Officer</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\vmeane\08-16525-2\task2986839\16525-2-ba.htm',USER='vmeane',CD='Jun 13 12:46 2008' -->
  
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-16525_28k.htm", "description": "8-K", "secsgml_size_bytes": 35700}]
metadata_filer: {"company-data": {"conformed-name": "KAPSTONE PAPER & PACKAGING CORP", "cik": "0001325281", "assigned-sic": "2621", "irs-number": "202699372", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33494", "film-number": "08898842"}, "business-address": {"street1": "C/O STONE-KAPLAN INVESTMENTS, LLC", "street2": "ONE NORTHFIELD PLAZA, SUITE 480", "city": "NORTHFIELD", "state": "IL", "zip": "60093", "phone": "847-441-0929"}, "mail-address": {"street1": "C/O STONE-KAPLAN INVESTMENTS, LLC,", "street2": "ONE NORTHFIELD PLAZA, SUITE 480", "city": "NORTHFIELD", "state": "IL", "zip": "60093"}, "former-company": [{"former-conformed-name": "KapStone Paper & Packaging CORP", "date-changed": "20070104"}, {"former-conformed-name": "Stone Arcade Acquisition CORP", "date-changed": "20050428"}]}
text: 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
  June 12,
  2008
  Date of Report
  (Date of earliest event reported)
  KapStone Paper and Packaging Corporation
  (Exact name of
  registrant as specified in its charter)
  Delaware
  000-51150
  20-2699372
  (State or other
    jurisdiction
  of incorporation)
  (Commission
  File Number)
  (IRS Employer
  Identification No.)
  1101
    Skokie Boulevard, Suite 300 Northbrook, Illinois
  60062
  (Address of
    principal executive offices)
  (Zip Code)
  (847) 239-8800
  (Registrant's
  telephone number, including area code)
  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:
  o
  Written communications pursuant to Rule 425
  under the Securities Act (17 CFR 230.425)
  o
  Soliciting material pursuant to Rule 14a-12
  under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement communications pursuant to
  Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  o
  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 June 12,
  2008, KapStone Paper and Packaging Corporation ("KapStone") entered into a
  Credit Agreement, dated as of June 12, 2008 (the "Senior Credit
  Agreement"), among KapStone, KapStone Kraft Paper Corporation, as borrower, the
  other subsidiaries of KapStone named therein, as guarantors, the lenders named
  therein, and Bank of America, N.A., as Administrative Agent, Swing Line Lender
  and L/C Issuer.  The Senior Credit Agreement provides for an
  aggregate of up to $555,000,000 in senior secured credit facilities (the
  "Senior Credit Facilities"), consisting of a $390,000,000 term A loan facility,
  a term B loan facility of up to $65,000,000 and a $100,000,000 revolving credit
  facility (including a letter of credit subfacility).  The proceeds
  from the borrowing of the term loan facilities are expected to be used,
  together with cash on hand, to finance the consideration for KapStone's
  acquisition of the North Charleston Kraft Division ("Charleston") from
  MeadWestvaco Corporation, to repay certain existing indebtedness, and to pay
  transaction fees and expenses. The Senior Credit Facilities are guaranteed by
  KapStone and KapStone's other domestic subsidiaries and are secured by
  substantially all the assets of KapStone and the borrower and guarantor subsidiaries,
  including all of the capital stock of the borrower and guarantor subsidiaries
  and up to 66% of the capital stock of KapStone's foreign subsidiaries.
  The
  term A loan facility is required to be repaid by KapStone in consecutive
  quarterly installments of $7,312,500 from September 30, 2008 to June 30,
  2009, $9,750,000 from September 30, 2009 to June 30, 2010,
  $12,187,500 from September 30, 2010 to March 31, 2013, with a final
  payment of all outstanding principal and interest on the maturity date.  The term B loan facility includes a term
  B-1 loan of $25,000,000 and a term B-2 loan of up to $40,000,000 (the term B-2
  commitment is reduced on a dollar for dollar basis to the extent KapStone
  issues certain private placement notes due 2015 prior to the funding of the
  term B-2 loan).  The term B-1 loan is
  required to be repaid by KapStone in consecutive quarterly installments of
  $468,750 from September 30, 2008 to June 30, 2009, $625,000 from September 30,
  2009 to June 30, 2010, $781,250 from September 30, 2010 to March 31,
  2015 and $5,781,250 on the maturity date. 
  The following percentages of the original outstanding principal amount
  of the term B-2 loan, if any, is required to be repaid by Kaptone in
  consecutive quarterly installments: 
  1.875% from September 30, 2008 to June 30, 2009; 2.500% from September 30,
  2009 to June 30, 2010; 3.125% from September 30, 2010 to March 31,
  2015; and 23.125% on the maturity date. 
  Borrowings under the revolving credit facility may be used for working
  capital and other general corporate purposes and are required to be repaid in
  full on the maturity date.  The maturity
  date is the earlier of:  (a) June 12,
  2013 with respect to the term A loan facility and the revolving credit facility
  and June 12, 2015 with respect to the term B loan facility and (b) the
  date which is 90 days prior to the date on which any earn-out obligations to
  International Paper will become (or are reasonably expected to become) due;
  provided that the maturity date will not be so accelerated if, among other
  things, the total leverage ratio is of the end of the then most recent fiscal
  quarter is less than 2.0 to 1.0.
  Outstanding
  principal under the term B loan facility bears interest at a rate equal to, at
  KapStone's option, either (1) the base rate (which is the higher of the
  then current Federal Funds rate plus 0.5% of the prime rate most recently
  announced by Bank of America, N.A., the administrative agent under the Senior
  Credit Facilities) plus a margin of 2.00% or (2) the reserve adjusted one,
  two, three or six-month Eurodollar rate plus a margin of 3.50%.
  Outstanding
  principal under the term A loan facility and the revolving credit facility
  initially bears interest at a rate equal to, at KapStone's option, either (1) the
  base rate plus a margin of 1.50%, or (2) the reserve adjusted one, two,
  three or six-month Eurodollar rate plus a margin of 3.00%.  The
  undrawn portion of the revolving credit facility is subject to an unused line
  fee calculated initially at an annual rate of 0.50%.  Commencing six
  months after the closing of the Senior Credit Facilities, pricing under the
  term A loan facility and the revolving credit facility and the unused line fee
  for the revolving credit facility will be determined by reference to a pricing
  grid based on KapStone's total leverage ratio.  Under the pricing
  grid, the applicable margins for the term A loan facility and the revolving
  credit facility will range from 0.0% to 1.5% for base rate loans and from 1.50%
  to 3.00% for Eurodollar loans, and the unused line fee for the revolving credit
  facility will range from 0.375% to 0.50%.  Outstanding letters of
  credit are subject to an annual fee equal to the applicable margin for
  Eurodollar loans under the revolving credit facility as in effect from time to
  time, plus a fronting fee on the undrawn amount thereof.
  The
  term loan facilities and the revolving credit facility may be prepaid at any
  time without premium.  The Senior Credit
  Facilities are subject to mandatory prepayment with specified percentages of
  the net cash proceeds of certain asset dispositions, casualty events, exercise
  of outstanding warrants and debt and equity issuances and with excess cash
  flow, in each case subject to certain conditions.
  The
  Senior Credit Facilities contain covenants that restrict, among other things,
  the ability of KapStone and its subsidiaries to create liens, incur
  indebtedness and guarantees, make certain investments or acquisitions, merge or
  consolidate, dispose of assets, pay dividends, repurchase or redeem capital
  stock and subordinated indebtedness, change the nature of their business, enter
  into certain transactions with affiliates, and make changes in accounting
  policies or practices except as required by generally accepted accounting
  principles.  The Senior Credit Facilities also contain a total
  leverage ratio covenant and a fixed charge coverage ratio.  The
  Senior Credit Facilities contain events of default including, but not limited
  to, nonpayment of principal or interest, violation of covenants, breaches of
  representations and warranties, cross-default to other indebtedness, bankruptcy
  and other insolvency events, material judgments, certain ERISA events, actual
  or asserted invalidity of loan documentation and certain changes of control of
  KapStone.
  The
  funding of the Senior Credit Facilities is subject to certain closing
  conditions, including the simultaneous closing of KapStone's purchase of
  Charleston from MeadWestvaco Corporation. 
  KapStone is required to pay a ticking fee until such funding equal to
  0.50% per annum of the total committed principal amount of the Senior Credit
  Facilities.
  The
  foregoing description of the Senior Credit Facilities is qualified in its
  entirety by reference to the text of the Senior Credit Agreement, which is
  attached hereto as Exhibit 99.1 and is incorporated herein by reference.
  A copy
  of the press release announcing the Senior Credit Facilities is attached hereto
  as Exhibit 99.2 and is incorporated herein by reference.
  2
  CAUTIONARY
  STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
  Certain
  matters discussed in this Form 8-K, including statements regarding the
  proposed acquisition of Charleston, the expected timetable for completing the
  transaction, future financial and operating results, benefits and synergies of
  the transaction, future opportunities for KapStone after the acquisition and
  any other statements about management's future expectations, beliefs, goals,
  plans or prospects constitute "forward-looking statements" intended to qualify
  for the safe harbor from liability established by the U.S. Private Securities
  Litigation Reform Act of 1995.  These
  forward-looking statements are based on management's beliefs, assumptions and
  current expectations and are subject to certain risks and uncertainties which
  could cause actual results to differ materially from those presented in these
  forward-looking statements.  The
  potential risks and uncertainties include, among others, the possibility that
  the transaction will not close or that the closing may be delayed, the ability
  of Kapstone to successfully integrate the Charleston's operations and
  employees, the ability to realize anticipated synergies and cost savings,
  general economic conditions and industry specific conditions.  In addition, please refer to the documents
  that KapStone files with the Securities and Exchange Commission on Forms 10-K,
  10-Q and 8-K.  These filings identify and
  address other important factors that could cause KapStone's financial and
  operational results to differ materially from those contained in the
  forward-looking statements set forth in this document.  Accordingly, readers are cautioned not to
  place undue reliance on these forward-looking statements, which speak only as
  of the date hereof.  Except to the extent
  required by law, KapStone undertakes no obligation to publicly revise these
  forward-looking statements to reflect events or circumstances that arise after
  the date hereof.
  Item 9.01               Financial
  Statements and Exhibits
  (a)           Exhibits
  99.1
  Credit Agreement, dated as of June 12, 2008, by
    and among KapStone Kraft Paper Corporation, as Borrower, KapStone Paper and
    Packaging Corporation, as Parent, the Subsidiaries of the Borrower identified
    therein, as Guarantors, Bank of America, N.A., as Administrative Agent, Swing
    Line Lender and L/C Issuer, and the Other Lenders Party thereto.
  99.2
  Press Release dated June 12, 2008
  3
  SIGNATURE
  Pursuant to the requirements of the Securities and
  Exchange Act of 1934, the registrant has duly caused this report to be signed
  on its behalf by the undersigned hereunto duly authorized.
  Date:  June 12, 2008
  KAPSTONE PAPER AND PACKAGING
  CORPORATION
  By:
  /s/ Roger W. Stone
  Name: Roger W. Stone
  Title:   Chief
    Executive Officer
  4