Cenveo Files Chapter 11

Cenveo, Inc.’s $290 Million Financing Facility Approved

New Liquidity to Be Used to Grow the Business and Continue Strong Relationships with Vendors, Customers, and Employees

STAMFORD, Conn., February 5, 2018 — Cenveo, Inc. (NASDAQ: CVO) (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 approved the Company’s $290 million debtor-in-possession (“DIP”) financing to support and grow its business. In addition, the Bankruptcy Court has approved the interim relief requested by the Company in key first day motions related to the payment of pre-filing wages, salaries, and benefits; honoring customer commitments; and paying vendors and suppliers. The motions were filed Friday, February 2, 2018, in conjunction with voluntary petitions for reorganization filed by Cenveo and its domestic subsidiaries under Chapter 11 of the U.S. Bankruptcy Code.

“Friday, Cenveo secured the financing it needs to grow its business and maximize value for all of its stakeholders,” said Robert G. Burton, Sr., Cenveo’s Chairman and Chief Executive Officer. “We want to thank all of our employees, vendors, and customers for their continued support, and we look forward to continuing our long-term relationship with each of them. This is the first step by Cenveo to complete its restructuring efforts, which will result in a substantial reduction of its debt and strengthen operations to enhance its relationships with customers.”

Additional information on the 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.

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

About Cenveo
Cenveo (NASDAQ: CVO), 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

Docket: https://cases.primeclerk.com/cenveo


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