-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NIcOLhMAcuptneIxDidKUacd2J90yVWeySWtDEwPuJENEY9XEaLPj3ZfsHnEnYaB 2dmqQ9HDugdqwWcvNFD2aQ== 0001299933-07-006081.txt : 20071022 0001299933-07-006081.hdr.sgml : 20071022 20071022171221 ACCESSION NUMBER: 0001299933-07-006081 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071018 ITEM INFORMATION: Other Events FILED AS OF DATE: 20071022 DATE AS OF CHANGE: 20071022 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JO-ANN STORES INC CENTRAL INDEX KEY: 0000034151 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 340720629 STATE OF INCORPORATION: OH FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06695 FILM NUMBER: 071183697 BUSINESS ADDRESS: STREET 1: 5555 DARROW RD CITY: HUDSON STATE: OH ZIP: 44236 BUSINESS PHONE: 2166562600 MAIL ADDRESS: STREET 1: 5555 DARROW ROAD CITY: HUDSON STATE: OH ZIP: 44236 FORMER COMPANY: FORMER CONFORMED NAME: FABRI CENTERS OF AMERICA INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: CLEVELAND FABRIC SHOPS INC NUMBER THREE DATE OF NAME CHANGE: 19681216 FORMER COMPANY: FORMER CONFORMED NAME: CLEVELAND FABRIC SHOPS INC DATE OF NAME CHANGE: 19681216 8-K 1 htm_23297.htm LIVE FILING Jo-Ann Stores, Inc. (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):   October 18, 2007

Jo-Ann Stores, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Ohio 001-06695 34-0720629
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
5555 Darrow Rd., Hudson, Ohio   44236
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (330) 656-2600

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 8.01 Other Events.

On October 18, 2007, Jo-Ann Stores, Inc. ("Jo-Ann") entered into an Agreement and Plan of Merger ("Merger Agreement") with IdeaForest.com, Inc. ("IdeaForest"), the operator of the joann.com website, to acquire the portion of IdeaForest that is not currently owned by Jo-Ann. Jo-Ann currently owns approximately 38% of IdeaForest. The Merger Agreement provides for the merger of a newly formed subsidiary that is wholly owned by Jo-Ann into IdeaForest, with IdeaForest surviving the merger as a wholly owned subsidiary of Jo-Ann.

In the Merger Agreement, Jo-Ann has agreed to pay approximately $12.3 million at the closing and delayed payments totaling approximately $8.6 million, subject to adjustment, over the next three years for the 62% of IdeaForest that Jo-Ann does not currently own. In addition, Jo-Ann's share of payments to current and former IdeaForest employees in connection with the transaction pursuant to IdeaForest's incentive bonus plans will amount to approximately $2.4 million.

The clo sing of the merger is subject to customary closing conditions. Assuming all closing conditions are met, the merger is expected to close in November 2007.





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.

         
    Jo-Ann Stores, Inc.
          
October 22, 2007   By:   /s/ David Goldston
       
        Name: David Goldston
        Title: Senior Vice President, General Counsel and Secretary
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