MIAMI, Oct. 15, 2015 /PRNewswire/ -- Jarden Corporation ("Jarden" or the "Company") (NYSE: JAH) announced today the pricing of the previously announced underwritten public offering of 10,000,000 shares of its common stock at $49.00 per share. The offering is expected to close on October 21, 2015, subject to standard closing conditions. In connection with the offering, Jarden has granted the underwriters an option for a period of 30 days to purchase up to an additional 1,500,000 shares of common stock.
The Company expects the total gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, will be $490.0 million, or $563.5 million if the underwriters exercise in full their option to purchase additional shares. The Company expects to use the net proceeds of the offering to fund a portion of the recently announced acquisition of Visant Holding Corp. ("Visant"), the parent company of Jostens, Inc. and the other entities comprising the Jostens business (collectively "Jostens"), and related fees and expenses. The offering is not conditioned on the closing of the acquisition of Jostens and the Company cannot assure you that such acquisition will be completed. If the acquisition of Jostens is not completed, the Company intends to use the net proceeds from the offering for general corporate purposes.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as lead book-running managers for the offering. RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement.
Copies of the prospectus and the related preliminary prospectus supplement may be obtained free of charge from the Securities and Exchange Commission's website at www.sec.gov or by contacting any of the joint book-running managers, including: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] or by phone at (888) 603-5847; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010; and UBS Securities LLC, Attn: Prospectus Dept., 1285 Avenue of the Americas, New York, NY 10019.
Note: This news release contains "forward-looking statements" within the meaning of the federal securities laws and is intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's proposed common stock offering, the Company's expected plan to fund the Jostens acquisition and the ability of the Company to close the Jostens acquisition. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause results to vary is included in the Company's periodic and other reports filed with the Securities and Exchange Commission.
About Jarden Corporation
Jarden Corporation is a diversified, global consumer products company with a portfolio of over 120 trusted, authentic brands. Jarden's record of strong financial performance and organic growth is supported by a focused operating culture coupled with value enhancing acquisitions and shareholder focused capital allocation. Jarden operates in three primary business segments through a number of well recognized brands, including: Branded Consumables: Ball®, Bee®, Bernardin®, Bicycle®, Billy Boy®, Crawford®, Diamond®, Envirocooler®, Fiona®, First Alert®, First Essentials®, Hoyle®, Kerr®, Lehigh®, Lifoam®, Lillo®, Loew Cornell®, Mapa®, Millefiori®, NUK®, Pine Mountain®, Quickie®, Spontex®, Tigex®, Waddington, Yankee Candle® and YOU®; Outdoor Solutions: Abu Garcia®, AeroBed®, Berkley®, Campingaz® and Coleman®, Dalbello®, ExOfficio®, Fenwick®, Greys®, Gulp!®, Hardy®, Invicta®, K2®, Marker®, Marmot®, Mitchell®, PENN®, Rawlings®, Shakespeare®, Squadra®, Stearns®, Stren®, Trilene®, Völkl® and Zoot®; and Consumer Solutions: Bionaire®, Breville®, Cadence®, Crock-Pot®, FoodSaver®, Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rainbow®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White Mountain®. Headquartered in Florida, Jarden ranks #348 on the Fortune 500 and has over 30,000 employees worldwide.
SOURCE Jarden Corporation