Cimpress plc Enters Material Definitive Agreement

Ticker: CMPR · Form: 8-K · Filed: Dec 17, 2024 · CIK: 1262976

Sentiment: neutral

Topics: debt, financing, material-agreement

TL;DR

Cimpress just signed a big new loan agreement.

AI Summary

On December 16, 2024, Cimpress plc entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the registrant. The filing details the terms of this agreement, which is a significant financial undertaking for the company.

Why It Matters

This filing indicates Cimpress plc has secured new financing or restructured existing debt, which could impact its financial flexibility and future investment capabilities.

Risk Assessment

Risk Level: medium — Entering into new debt agreements can introduce financial risks related to interest rates, repayment obligations, and covenants.

Key Players & Entities

FAQ

What type of material definitive agreement did Cimpress plc enter into?

Cimpress plc entered into a credit agreement.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is December 16, 2024.

What is Cimpress plc's Standard Industrial Classification code?

Cimpress plc's Standard Industrial Classification code is 2750 (COMMERCIAL PRINTING).

What is Cimpress plc's state of incorporation?

Cimpress plc is incorporated in Ireland.

What is the filing date of this 8-K report?

This 8-K report was filed on December 17, 2024.

Filing Stats: 1,117 words · 4 min read · ~4 pages · Grade level 11.8 · Accepted 2024-12-17 12:01:24

Key Financial Figures

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On December 16, 2024, Cimpress plc ("Cimpress") entered into Amendment No. 4 among Cimpress and five of its subsidiaries, Vistaprint Limited, Cimpress Schweiz GmbH, Vistaprint B.V., Vistaprint Netherlands B.V., and Cimpress USA Incorporated, as borrowers (collectively, the "Borrowers"); Cimpress' subsidiaries that guaranty the Borrowers' obligations; the financial institutions listed on the signature pages thereof; and JPMorgan Chase Bank N.A., as administrative agent for the lenders (the "Administrative Agent") ("Amendment 4"), which amends the senior secured Credit Agreement dated as of October 21, 2011, as amended and restated as of February 8, 2013, as further amended and restated as of July 13, 2017, as further amended and restated as of May 17, 2021, as further amended effective as of July 1, 2023, as further amended as of May 15, 2024, and as further amended as of September 26, 2024, among the Borrowers, the lenders named therein as lenders, and the Administrative Agent (the "Credit Agreement"). The Credit Agreement governs the Borrowers' Term Loan B, which consists of a tranche denominated in U.S. dollars ("USD Tranche") and a tranche denominated in Euros ("Euro Tranche"). Pursuant to Amendment 4, the Borrowers refinanced the entire USD Tranche and the entire Euro Tranche as follows: Amendment 4 reduced the interest rate margin of the USD Tranche by 50 basis points, from SOFR plus 3.00% to SOFR plus 2.50%. The existing USD Tranche with an aggregate principal amount equal to $1,032,310,634 was exchanged for a new USD Tranche with the terms described immediately above. Amendment 4 also increased the size of the new USD Tranche by $48,614,176, the proceeds of which the Borrowers used to prepay the entire balance of the Euro Tranche. After these changes, the Term Loan B consists of a USD Tranche with an aggregate principal amount equal to $1,080,924,811. No other material changes were made to the

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Amendment No. 4, dated as of December 16, 2024, among Cimpress plc ("Cimpress"), Vistaprint Limited, Cimpress Schweiz GmbH, Vistaprint B.V., Vistaprint Netherlands B.V., and Cimpress USA Incorporated, as borrowers (the "Borrowers"); Cimpress' subsidiaries that guaranty the Borrowers' obligations; the financial institutions listed on the signature pages thereof; and JPMorgan Chase Bank N.A., as administrative agent (the "Administrative Agent"), to the senior secured Credit Agreement dated as of October 21, 2011, as amended and restated as of February 8, 2013, as further amended and restated as of July 13, 2017, as further amended and restated as of May 17, 2021, as further amended effective as of July 1, 2023, as further amended as of May 15, 2024, and as further amended as of September 26, 2024 among the Borrowers, the lenders named therein, and the Administrative Agent 104 Cover Page Interactive Data File, formatted in iXBRL SIGNATURE 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. December 17, 2024 Cimpress plc By: /s/ Sean E. Quinn Sean E. Quinn Executive Vice President and Chief Financial Officer

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