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Cenveo Inc. (fka CVOVQ)

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Last Post: 9/13/2018 9:55:23 AM - Followers: 12 - Board type: Free - Posts Today: 0


STAMFORD, Conn., Aug. 16, 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 United States Bankruptcy Court for the Southern District of New York has confirmed its plan of reorganization (the "Plan"), paving the way for the Company to emerge from Chapter 11 in the coming weeks.

The terms of the Plan will enable the Company to exit Chapter 11 with a substantially deleveraged balance sheet and increased liquidity, allowing the Company to focus on its operations and grow its businesses. Prior to filing for Chapter 11, the Company's liabilities included approximately $1.1 billion in funded debt. Upon emergence, the Company's funded debt will be reduced by over $800 million to approximately $325 million.

The Company commenced solicitation of votes for approval of its Plan earlier this summer and Cenveo's Plan was approved by an overwhelming majority of its entire creditor body. Approximately 97% of Cenveo's first lien secured noteholders (the "First Lien Holders"), 100% of its second lien noteholders, including the largest holder, Brigade Capital Management, and approximately 91% of general unsecured creditors all voted to approve Cenveo's Plan. These numbers represent overwhelming support from Cenveo's creditors for the Plan.

The Plan was the result of the Company's global settlement with its various creditor groups and the Unsecured Creditors' Committee, including the Pension Benefit Guaranty Corporation, certain unions, and the indenture trustee for the unsecured noteholders.

Upon its emergence from Chapter 11, the Company will be privately held with its largest shareholders comprised of institutional investors with tens of billions of dollars of capital under management. Additionally, the Company has entered into a commitment for a $175 million asset based revolving credit facility and is expected to only have approximately $68 million used upon emergence creating $65 million of liquidity when coupled with the expected cash on hand on the emergence date.

The Company was advised by Kirkland & Ellis LLP as legal counsel, and Greenhill & Co., Rothschild Inc. and Zolfo Cooper, LLC as investment bankers and financial advisors.

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 service every day to our customers. For more information please visit us at www.cenveo.com.


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#317   Me: Bwahaha haa hahahaha huuuuuuhhaaaaa haaaha MANOFTHEPEOPLE 09/13/18 09:55:23 AM
#316   How much money did u lose here lol LowFloatLopes 09/12/18 02:29:16 PM
#315   hehe hehehehe awwww hehehehehehe hehehehehehehehehehe MANOFTHEPEOPLE 09/12/18 02:28:28 PM
#314   You are cute. Aquahoya 09/11/18 01:50:24 PM
#312   Lucky I sold most of my shares except Aquahoya 09/11/18 11:04:26 AM
#311   Crying? I sold all my shares at .025 LowFloatLopes 09/11/18 10:42:59 AM
#310   AAHAHAHA Keep crying buddy. MANOFTHEPEOPLE 09/11/18 10:41:59 AM
#308   hope you got out in time man otclife 09/10/18 10:05:37 AM
#307   CVOVQ: No bounce here.Private....lol... Sibware 09/07/18 08:44:28 PM
#306   all gone now. lucky,mydog 09/07/18 05:24:23 PM
#305   CVOVQ: Bankruptcy PLAN effective. All shares cancelled: Renee 09/07/18 05:10:56 PM
#304   CVOVQ .023 BCNstocks 09/04/18 09:45:06 AM
#303   CVOVQ bids moving up. On Friday I also BCNstocks 09/04/18 09:31:57 AM
#302   Ahh makes sense now saw the same on BERKSHIRE AGENT 08/31/18 07:24:14 PM
#301   Have a safe weekend bro LowFloatLopes 08/31/18 04:47:27 PM
#300   Long weekend beer money lol ...some ppl here LowFloatLopes 08/31/18 04:47:07 PM
#299   LOL ur funny dude, SHARE CANCELATION WAS NOT LowFloatLopes 08/31/18 04:46:29 PM
#298   FYI, this is law speak, which would be: MANOFTHEPEOPLE 08/31/18 04:08:15 PM
#297   Just got back home thought we would hold BERKSHIRE AGENT 08/31/18 03:41:08 PM
#296   Pump n dump before share cancellations boston79 08/31/18 03:08:31 PM
#295   Contemplate / Definition of Contemplate by Merriam-Webster BCNstocks 08/31/18 01:55:40 PM
#294   Heard back from the company via email response dcsteve 08/31/18 01:47:11 PM
#293   Nope, tripled up and riding a few for LowFloatLopes 08/31/18 12:47:37 PM
#292   Arnt you buying more? boston79 08/31/18 12:47:05 PM
#291   CVOVQ added a little at .021 today. Expecting BCNstocks 08/31/18 11:44:48 AM
#290   Glad I stopped myself from jumping in, BULL ALL-IN888 08/31/18 10:57:04 AM
#289   Good morning CVOVQ looking good :) BERKSHIRE AGENT 08/31/18 09:48:57 AM
#288   CVOVQ...03s clearing here... georgie18 08/31/18 09:48:43 AM
#287   CVOVQ agreed. Very nice buying. Looking forward to Friday. BCNstocks 08/30/18 08:38:15 PM
#286   Who decided to merge into the shell dcsteve 08/30/18 06:31:46 PM
#285   Q is about to come off due to dcsteve 08/30/18 05:32:03 PM
#284   https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=7927598 dcsteve 08/30/18 05:30:44 PM
#283   New Company merged in- CNMW Investments, Inc. dcsteve 08/30/18 05:25:49 PM
#282   Nice day and close. BERKSHIRE AGENT 08/30/18 04:14:19 PM
#281   $CVOVQ ~ Agreed! Bids moving up! Check the BCNstocks 08/30/18 02:16:17 PM
#280   Wow looks like we stumbled upon a diamond BERKSHIRE AGENT 08/30/18 01:37:32 PM
#279   $CVOVQ ~ that is interesting. L2 heating up :) BCNstocks 08/30/18 01:23:08 PM
#278   They WERE private but merged-in CVOVQ per SOS-filings Sibware 08/30/18 01:16:36 PM
#277   CNMW is the private equity firm... MANOFTHEPEOPLE 08/30/18 01:13:23 PM
#276   Lol he sure is BERKSHIRE AGENT 08/30/18 01:10:41 PM
#275   CVOVQ:Thanks PAUL for noticing my post about you Sibware 08/30/18 01:08:42 PM
#274   Back to HOD TCU Frog Fan 08/30/18 01:08:02 PM
#273   CVOVQ: PAUL prolly lurking on the board here...lol... Sibware 08/30/18 01:04:54 PM
#272   Wow that is some huge dd man. Nice find! BERKSHIRE AGENT 08/30/18 01:00:17 PM
#271   CVOVQ: You got a POR link??? Sibware 08/30/18 01:00:10 PM
#270   Wow! thanks much for letting me know. So mzasif 08/30/18 12:59:21 PM
#269   CVOVQ - MM PAUL= Paulson Investment Company,LLC.==> Sibware 08/30/18 12:57:52 PM
#268   Check the sos today, new company merged in. dcsteve 08/30/18 12:56:32 PM
#267   In at 025 dcsteve 08/30/18 12:54:55 PM