Cenveo Inc. (fka CVOVQ)

[makinezmoney]

$CVOVQ: NEWS.... Reorganization Plan

Cenveo, Inc. Files Plan of Reorganization and Disclosure Statement
8:30 AM ET 4/3/18 | PR Newswire
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Company on track to emerge from Chapter 11 in Late Q2

STAMFORD, Conn., April 3, 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 it has filed a Chapter 11 plan of reorganization (the "Plan") and related disclosure statement ("Disclosure Statement") with the United States Bankruptcy Court for the Southern District of New York, White Plains. The Plan outlines a proposed path to strengthen the Company's balance sheet, increase its financial flexibility, and position it for long-term success.

"We are continuing to make significant progress as we enter the next phase of our restructuring," said Robert G. Burton, Sr., Cenveo's Chairman and Chief Executive Officer. "The Company's Plan represents a clear and viable path forward for Cenveo to establish a sustainable capital structure that supports future growth and investment in the business. We will continue to work closely with all of our stakeholders to refine the Plan, as this is a critical step to achieving our timeline of emerging from this restructuring process in the summer of 2018."

A hearing has been scheduled with the Court on May 16, 2018 to consider approval of the Disclosure Statement related to the Plan. Following Court approval of the Disclosure Statement, Cenveo will distribute the Plan and Disclosure Statement to voting creditors for their consideration.

This press release is not intended as solicitation for a vote on the Plan. The full terms of the Plan and Disclosure Statement, as well as the related pleadings, are available online at: https://cases.primeclerk.com/cenveo.

Cenveo's legal advisors are Kirkland & Ellis LLP. The Company's financial advisor is Rothschild, Inc., and its restructuring advisor is Zolfo Cooper LLC.

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.

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SOURCE Cenveo, Inc.

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April 03, 2018 08:30 ET (12:30 GMT)