STAMFORD, Conn., March 7, 2018 /PRNewswire/ -- Cenveo, Inc.
(OTCPK: CVOVQ) (the "Company"), a diversified manufacturer of print-related products including envelopes, custom labels,
commercial print, and publisher solutions, today announced that the U.S. Bankruptcy Court for the Southern District of
New York, White Plains has given final approval of the
Company's $290 million debtor-in-possession ("DIP") financing to support and grow its business.
The financing ensures that suppliers and other business partners are paid in a timely manner for goods and services provided
during the reorganization process, in accordance with customary terms.
"This is a critical milestone for Cenveo in these Chapter 11 cases and a step forward in achieving the plan we outlined when
we filed in early February. Today's decision assures that it remains business as usual at Cenveo," said Robert G. Burton, Sr. "We look forward to filing our plan of reorganization by the end of March. Pursuant to
the Restructuring Support Agreement, which was entered into before filing for Chapter 11, this plan already has the critical
support of over 61% of the required 66.7% of our first lien noteholders prior to the commencement of the solicitation of the plan
of reorganization. The transaction embodied in the Restructuring Support Agreement will, once approved, reduce our leverage by
approximately $700 million, and allow us to quickly emerge from this process with a stronger
balance sheet to support the Company's long-term success, benefiting our valued customers, business partners, and employees in
the years ahead."
Additional information on the Company's restructuring can be found at www.cenveo.com/restructuring or by calling the Company's toll-free
Restructuring Information Line at (844) 219-2678 (or, if you are calling from outside the U.S. or Canada, at +1 (646) 813-2946). Information about the claims process will also be available at https://cases.primeclerk.com/cenveo.
About Cenveo
Cenveo (OTCPK: CVOVQ), world headquartered in Stamford, Connecticut, is a leading
global provider of print and related resources, offering world-class solutions in the areas of custom labels, envelopes,
commercial print, content management and publisher solutions. The company provides a one-stop offering through services ranging
from design and content management to fulfillment and distribution. With a worldwide distribution platform, we pride
ourselves on delivering quality solutions and services every day for our more than 100,000 customers. For more information,
please visit us at www.cenveo.com.
Cautionary Note Regarding the Chapter 11 Cases
The Company's stockholders are cautioned that the it is likely that the Company's stockholders will receive nothing
in exchange for its common stock upon the Company's emergence from bankruptcy and the common stock will have no value and that
trading in securities of the Company during the pendency of the Chapter 11 cases will be highly speculative and will pose
substantial risks. It is possible the Company's outstanding securities may be cancelled and extinguished upon confirmation of a
restructuring plan by the Bankruptcy Court. In such an event, the Company's stockholders and other security holders would not be
entitled to receive or retain any cash, securities or other property on account of their cancelled securities. Trading prices for
the Company's common stock and other securities may bear little or no relation to actual recovery, if any, by holders thereof in
the Company's Chapter 11 cases. Accordingly, the Company urges extreme caution with respect to existing and future investments in
its securities.
Cautionary Note Regarding Forward-Looking Statements
This document contains certain forward-looking statements. These statements may be identified by the use of
forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might,"
"our vision," "plan," "potential," "preliminary," "predict," "should," "will," or "would" or the negative thereof or other
variations thereof or other comparable terminology and include, but are not limited to, statements regarding the Company's
expected motions to be filed in the Chapter 11 proceeding and the dispositions of such motions, continued operations and customer
and supplier programs while in a Chapter 11 proceeding, cash needed to support our operations while in a Chapter 11 proceeding,
ability to lower debt and interest payments, ability to operate while in a Chapter 11 proceeding, ability to pay our
creditors, credit rating and ability to manage its pension obligations. We have based these forward-looking statements on our
current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates
and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and
uncertainties, many of which are beyond our control, including, but not limited to: the actions and decisions of our creditors
and other third parties with interests in the Chapter 11 cases; our ability to maintain liquidity to fund our operations during
the Chapter 11 cases; our ability to obtain Bankruptcy Court approvals in connection with the Chapter 11 cases; our ability to
consummate any transactions once approved by the Bankruptcy Court and the time to consummation of such transactions; adjustments
in the calculation of financial results for the quarter or year end, or the application of accounting principles; discovery of
new information that alters expectations about financial results or impacts valuation methodologies underlying financial results;
accounting changes required by United States generally accepted accounting principles; and other
factors affecting the Company detailed from time to time in the Company's filings with the SEC that are available at
www.sec.gov . These and other important factors may cause our actual results, performance, or achievements
to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking
statements. For a list and description of such risks and uncertainties, please refer to Cenveo's filings with the SEC that are
available at www.sec.gov and in particular, our 2016 Form 10-K filed with the SEC on February
23, 2017. We caution you that the list of important factors included in our SEC filings may not contain all of the
material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to
in the forward-looking statements contained in this document may not in fact occur. Cenveo disclaims any intention or
obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, except
as otherwise required by law.
For Media Inquiries
Kekst
Peter Hill / Elizabeth Van Every
+1 (212) 521-4800
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SOURCE Cenveo, Inc.