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<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">FORM&nbsp;8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d)</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): November&nbsp;19, 2013 </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>VISANT CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
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<TD VALIGN="top" ALIGN="center"><B>DELAWARE</B></TD>
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<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">333-120386</FONT></B></TD>
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<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">90-0207604</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Commission</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(IRS Employer</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>of incorporation)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>File Number)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Identification No.)</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>357 Main Street</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Armonk, New York</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>10504</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (914)
<FONT STYLE="white-space:nowrap">595-8200</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;14d-2(b)&nbsp;under</FONT> the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;13e-4(c)&nbsp;under</FONT> the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Stock Purchase Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On November&nbsp;19, 2013, Visant Corporation (&#147;Visant&#148;) and its subsidiary, Jostens, Inc. (&#147;Jostens&#148;), entered into a
Stock Purchase Agreement with American Achievement Group Holding Corp., (&#147;American Achievement&#148;), each holder of outstanding equity interests of American Achievement, and American Achievement Holdings LLC, in its capacity as Sellers&#146;
Representative (the &#147;Stock Purchase Agreement&#148;), providing for the purchase by Jostens of all of the outstanding equity interests of American Achievement. Visant has guaranteed the payment and full performance of all obligations of Jostens
under the Stock Purchase Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Stock Purchase Agreement, at closing Jostens will acquire all of the outstanding
equity interests in American Achievement for a total transaction value of $486 million, including the repayment of approximately $385 million of indebtedness and related breakage costs and the satisfaction of transaction fees and expenses and
amounts earned on a change in control by American Achievement management. At closing the holders of American Achievement&#146;s common stock, common stock warrants and preferred stock (collectively, the &#147;Equity&#148;) will receive payment in
kind discount notes from Visant that will be payable to the holders of the Equity upon the later of the date that is 15 months from the closing under the Stock Purchase Agreement or December&nbsp;22, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Stock Purchase Agreement contains customary representations, warranties and covenants, and indemnification, escrow and termination
provisions. The transaction, which is expected to close not later than the second quarter of 2014, is subject to customary closing conditions, including regulatory review. The Stock Purchase Agreement is subject to termination if the purchase of
American Achievement is not completed by May&nbsp;19, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the Stock Purchase Agreement is included to
provide you with information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Stock Purchase Agreement, which is filed as Exhibit 2.1 to this Current Report
on Form 8-K, and is incorporated into this report by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Debt Financing Commitment </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Concurrently, and in connection with entering into the Stock Purchase Agreement, Visant and its parent company, Visant Secondary Holdings
Corp., entered into a debt commitment letter (the &#147;Debt Commitment Letter&#148;) with Credit Suisse Securities (USA) LLC (&#147;CSSUSA&#148;) and Credit Suisse AG, Cayman Islands Branch (&#147;CS&#148;) pursuant to which, subject to the
conditions set forth therein, CS has committed to provide Visant financing for the transactions under the Stock Purchase Agreement, which will include: (i)&nbsp;up to a $260.0 million senior secured term loan facility (the &#147;Senior Secured Term
Loan Facility&#148;), either as an incremental facility pursuant to Visant&#146;s existing senior secured credit facilities or under a new, stand-alone credit agreement, maturing on March&nbsp;23, 2017; and (ii)&nbsp;up to $100.0 million in
aggregate principal amount of senior unsecured notes issued by Visant in a private placement (the &#147;Mirror Notes&#148;) on terms substantially consistent with Visant&#146;s 10.00% senior notes due 2017 (the &#147;Existing Senior Notes&#148;),
provided that if all or any portion of the contemplated Mirror Notes are not issued by Visant prior to the closing of the transaction, the financing shall also include up to $100.0 million of senior unsecured fixed rate loans maturing on
October&nbsp;1, 2017 (the &#147;Senior Unsecured Bridge Loans&#148;) under a senior unsecured credit facility (the &#147;Bridge Facility&#148;), in each case, plus an amount sufficient to fund any OID or upfront fees required to be funded in respect
thereof on the closing date. In any event, the combined aggregate amount of gross proceeds from the Mirror Notes and the Senior Unsecured Bridge Loans shall not exceed $100.0 million. Visant may in its sole discretion agree to reduce any commitment
with respect to the Bridge Facility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At any time after the one year anniversary of the closing date, the Senior Unsecured Bridge Loans
may be exchanged in whole or in part for senior unsecured exchange notes, in equal principal amount, as additional Existing Senior Notes under the indenture governing the Existing Senior Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The obligations under the Senior Secured Term Loan Facility and the Bridge Facility will be guaranteed by Visant Secondary Holdings Corp. and
the subsidiaries of Visant that are guarantors under Visant&#146;s existing senior secured credit facilities and the Existing Senior Notes, respectively. The Senior Secured Term Loan Facility will be secured on the same basis as the security
interests pursuant to Visant&#146;s existing senior secured credit facilities. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The obligation of CS to provide debt financing under the Debt Commitment Letter is subject to
customary closing conditions for transactions of this type. The final termination date for the Debt Commitment Letter is the same as the termination date under the Stock Purchase Agreement, which is discussed above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">CSSUSA will act as sole lead arranger and bookrunner and will perform duties customarily associated with such roles for which it will receive
customary fees. CS and CSSUSA are affiliates of one of our equity sponsors. In addition, KKR Capital Markets LLC, an affiliate of one of our equity sponsors, assisted in placing the financing, for which it will receive a customary fee. CS, CSSUSA,
KKR Capital Markets LLC and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with Visant or its affiliates. They have received, or may in the
future receive, customary fees and commissions for these transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the Debt Commitment Letter is
included to provide you with information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Debt Commitment Letter, which is filed as Exhibit 10.1 to this
Current Report on Form 8-K, and is incorporated into this report by reference. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">Not applicable </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">Not applicable </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">Not applicable </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;2.1</TD>
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<TD VALIGN="top">Stock Purchase Agreement, dated as of November&nbsp;19, 2013, by and among Jostens, Inc., American Achievement Group Holding Corp., Visant Corporation, each holder of outstanding equity interests of American Achievement Group
Holding Corp., and American Achievement Holdings LLC, in its capacity as Sellers&#146; Representative.</TD></TR>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top">Commitment Letter, dated November&nbsp;19, 2013, by and among Credit Suisse Securities (USA) LLC, Credit Suisse AG, Cayman Islands Branch, Visant Secondary Holdings Corp. and Visant Corporation.</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This report contains &#147;forward-looking statements&#148;, including, without limitation, statements concerning expectations regarding the
proposed transaction, including estimated synergies, operations, performance and financial condition. Forward-looking statements are not historical facts, but rather predictions and generally can be identified by use of statements that include such
words as &#147;may&#148;, &#147;might&#148;, &#147;will&#148;, &#147;should&#148;, &#147;estimate&#148;, &#147;project&#148;, &#147;plan&#148;, &#147;anticipate&#148;, &#147;expect&#148;, &#147;intend&#148;, &#147;outlook&#148;, &#147;believe&#148;
and other similar expressions that are intended to identify forward-looking statements and information. These forward-looking statements are based on estimates and assumptions by management that, although believed to be reasonable, are inherently
uncertain and subject to a number of risks and uncertainties. Actual results may differ materially from current expectations depending upon a number of factors affecting the businesses and risks associated with the successful execution and
integration of the proposed transaction and the performance of the combined business following such transaction. These factors include, without limitation, successful completion of the proposed transaction in the time period anticipated or at all,
which is dependent on the parties&#146; ability to satisfy certain closing conditions, the ability to implement plans for integration and the ability to realize the anticipated synergies resulting from the proposed transaction and the costs related
to achieving such synergies, the receipt of regulatory approvals, and those identified under &#147;Risk Factors&#148; in Visant&#146;s Annual Report on Form 10-K for the year ended December 29, 2012, in addition to those discussed in Visant&#146;s
quarterly reports on Form 10-Q. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We caution you not to place undue reliance on these forward-looking statements, and any such
forward-looking statements are qualified in their entirety by reference to the cautionary statements. All forward-looking statements speak only as of the date they are made, are based on current expectations and involve a number of assumptions,
risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements in light of new information, future events
or otherwise, except as required by law. </P>

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<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>VISANT CORPORATION</B></TD></TR>
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<TD VALIGN="top">Date: November&nbsp;20, 2013</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Paul B. Carousso</P></TD></TR>
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<TD VALIGN="top" ALIGN="center">Paul B. Carousso</TD></TR>
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<TD VALIGN="top" ALIGN="center">Senior Vice President, Chief Financial Officer</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>No.</B></P></TD>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;2.1</TD>
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<TD VALIGN="top">Stock Purchase Agreement, dated as of November&nbsp;19, 2013, by and among Jostens, Inc., American Achievement Group Holding Corp., Visant Corporation, each holder of outstanding equity interests of American Achievement Group
Holding Corp., and American Achievement Holdings LLC, in its capacity as Sellers&#146; Representative.</TD></TR>
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<TD VALIGN="top" NOWRAP>10.1</TD>
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<TD VALIGN="top">Commitment Letter, dated November&nbsp;19, 2013, by and among Credit Suisse Securities (USA) LLC, Credit Suisse AG, Cayman Islands Branch, Visant Secondary Holdings Corp. and Visant Corporation.</TD></TR>
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{"company-data": {"conformed-name": "VISANT CORP", "cik": "0001308085", "assigned-sic": "3911", "irs-number": "900207604", "fiscal-year-end": "0101"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-120386", "film-number": "131232358"}, "business-address": {"street1": "357 MAIN STREET", "street2": "1ST FLOOR", "city": "ARMONK", "state": "NY", "zip": "10504", "phone": "(914) 595-8200"}, "mail-address": {"street1": "357 MAIN STREET", "street2": "1ST FLOOR", "city": "ARMONK", "state": "NY", "zip": "10504"}, "former-company": {"former-conformed-name": "Jostens IH Corp.", "date-changed": "20041105"}}
Form 8-K
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): November 19, 2013
VISANT CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
333-120386
90-0207604
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
357 Main Street
Armonk, New York
10504
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (914)
595-8200
Not applicable
(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.
Stock Purchase Agreement
On November 19, 2013, Visant Corporation ("Visant") and its subsidiary, Jostens, Inc. ("Jostens"), entered into a
Stock Purchase Agreement with American Achievement Group Holding Corp., ("American Achievement"), each holder of outstanding equity interests of American Achievement, and American Achievement Holdings LLC, in its capacity as Sellers'
Representative (the "Stock Purchase Agreement"), providing for the purchase by Jostens of all of the outstanding equity interests of American Achievement. Visant has guaranteed the payment and full performance of all obligations of Jostens
under the Stock Purchase Agreement.
Pursuant to the Stock Purchase Agreement, at closing Jostens will acquire all of the outstanding
equity interests in American Achievement for a total transaction value of $486 million, including the repayment of approximately $385 million of indebtedness and related breakage costs and the satisfaction of transaction fees and expenses and
amounts earned on a change in control by American Achievement management. At closing the holders of American Achievement's common stock, common stock warrants and preferred stock (collectively, the "Equity") will receive payment in
kind discount notes from Visant that will be payable to the holders of the Equity upon the later of the date that is 15 months from the closing under the Stock Purchase Agreement or December 22, 2015.
The Stock Purchase Agreement contains customary representations, warranties and covenants, and indemnification, escrow and termination
provisions. The transaction, which is expected to close not later than the second quarter of 2014, is subject to customary closing conditions, including regulatory review. The Stock Purchase Agreement is subject to termination if the purchase of
American Achievement is not completed by May 19, 2014.
The foregoing description of the Stock Purchase Agreement is included to
provide you with information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Stock Purchase Agreement, which is filed as Exhibit 2.1 to this Current Report
on Form 8-K, and is incorporated into this report by reference.
Debt Financing Commitment
Concurrently, and in connection with entering into the Stock Purchase Agreement, Visant and its parent company, Visant Secondary Holdings
Corp., entered into a debt commitment letter (the "Debt Commitment Letter") with Credit Suisse Securities (USA) LLC ("CSSUSA") and Credit Suisse AG, Cayman Islands Branch ("CS") pursuant to which, subject to the
conditions set forth therein, CS has committed to provide Visant financing for the transactions under the Stock Purchase Agreement, which will include: (i) up to a $260.0 million senior secured term loan facility (the "Senior Secured Term
Loan Facility"), either as an incremental facility pursuant to Visant's existing senior secured credit facilities or under a new, stand-alone credit agreement, maturing on March 23, 2017; and (ii) up to $100.0 million in
aggregate principal amount of senior unsecured notes issued by Visant in a private placement (the "Mirror Notes") on terms substantially consistent with Visant's 10.00% senior notes due 2017 (the "Existing Senior Notes"),
provided that if all or any portion of the contemplated Mirror Notes are not issued by Visant prior to the closing of the transaction, the financing shall also include up to $100.0 million of senior unsecured fixed rate loans maturing on
October 1, 2017 (the "Senior Unsecured Bridge Loans") under a senior unsecured credit facility (the "Bridge Facility"), in each case, plus an amount sufficient to fund any OID or upfront fees required to be funded in respect
thereof on the closing date. In any event, the combined aggregate amount of gross proceeds from the Mirror Notes and the Senior Unsecured Bridge Loans shall not exceed $100.0 million. Visant may in its sole discretion agree to reduce any commitment
with respect to the Bridge Facility.
At any time after the one year anniversary of the closing date, the Senior Unsecured Bridge Loans
may be exchanged in whole or in part for senior unsecured exchange notes, in equal principal amount, as additional Existing Senior Notes under the indenture governing the Existing Senior Notes.
The obligations under the Senior Secured Term Loan Facility and the Bridge Facility will be guaranteed by Visant Secondary Holdings Corp. and
the subsidiaries of Visant that are guarantors under Visant's existing senior secured credit facilities and the Existing Senior Notes, respectively. The Senior Secured Term Loan Facility will be secured on the same basis as the security
interests pursuant to Visant's existing senior secured credit facilities.
The obligation of CS to provide debt financing under the Debt Commitment Letter is subject to
customary closing conditions for transactions of this type. The final termination date for the Debt Commitment Letter is the same as the termination date under the Stock Purchase Agreement, which is discussed above.
CSSUSA will act as sole lead arranger and bookrunner and will perform duties customarily associated with such roles for which it will receive
customary fees. CS and CSSUSA are affiliates of one of our equity sponsors. In addition, KKR Capital Markets LLC, an affiliate of one of our equity sponsors, assisted in placing the financing, for which it will receive a customary fee. CS, CSSUSA,
KKR Capital Markets LLC and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with Visant or its affiliates. They have received, or may in the
future receive, customary fees and commissions for these transactions.
The foregoing description of the Debt Commitment Letter is
included to provide you with information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Debt Commitment Letter, which is filed as Exhibit 10.1 to this
Current Report on Form 8-K, and is incorporated into this report by reference.
Item 9.01
Financial Statements and Exhibits.
(a)
Not applicable
(b)
Not applicable
(c)
Not applicable
(d)
Exhibits
2.1
Stock Purchase Agreement, dated as of November 19, 2013, by and among Jostens, Inc., American Achievement Group Holding Corp., Visant Corporation, each holder of outstanding equity interests of American Achievement Group
Holding Corp., and American Achievement Holdings LLC, in its capacity as Sellers' Representative.
10.1
Commitment Letter, dated November 19, 2013, by and among Credit Suisse Securities (USA) LLC, Credit Suisse AG, Cayman Islands Branch, Visant Secondary Holdings Corp. and Visant Corporation.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This report contains "forward-looking statements", including, without limitation, statements concerning expectations regarding the
proposed transaction, including estimated synergies, operations, performance and financial condition. Forward-looking statements are not historical facts, but rather predictions and generally can be identified by use of statements that include such
words as "may", "might", "will", "should", "estimate", "project", "plan", "anticipate", "expect", "intend", "outlook", "believe"
and other similar expressions that are intended to identify forward-looking statements and information. These forward-looking statements are based on estimates and assumptions by management that, although believed to be reasonable, are inherently
uncertain and subject to a number of risks and uncertainties. Actual results may differ materially from current expectations depending upon a number of factors affecting the businesses and risks associated with the successful execution and
integration of the proposed transaction and the performance of the combined business following such transaction. These factors include, without limitation, successful completion of the proposed transaction in the time period anticipated or at all,
which is dependent on the parties' ability to satisfy certain closing conditions, the ability to implement plans for integration and the ability to realize the anticipated synergies resulting from the proposed transaction and the costs related
to achieving such synergies, the receipt of regulatory approvals, and those identified under "Risk Factors" in Visant's Annual Report on Form 10-K for the year ended December 29, 2012, in addition to those discussed in Visant's
quarterly reports on Form 10-Q.
We caution you not to place undue reliance on these forward-looking statements, and any such
forward-looking statements are qualified in their entirety by reference to the cautionary statements. All forward-looking statements speak only as of the date they are made, are based on current expectations and involve a number of assumptions,
risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements in light of new information, future events
or otherwise, except as required by law.
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.
VISANT CORPORATION
Date: November 20, 2013
/s/ Paul B. Carousso
Paul B. Carousso
Senior Vice President, Chief Financial Officer
EXHIBIT INDEX
Exhibit
No.
Exhibit
2.1
Stock Purchase Agreement, dated as of November 19, 2013, by and among Jostens, Inc., American Achievement Group Holding Corp., Visant Corporation, each holder of outstanding equity interests of American Achievement Group
Holding Corp., and American Achievement Holdings LLC, in its capacity as Sellers' Representative.
10.1
Commitment Letter, dated November 19, 2013, by and among Credit Suisse Securities (USA) LLC, Credit Suisse AG, Cayman Islands Branch, Visant Secondary Holdings Corp. and Visant Corporation.