Entry into a Material Definitive Agreement.
As previously disclosed in the Current Report on Form
filed by Revolution Lighting Technologies, Inc. (the
Company) on November 26, 2018, the Company and its direct and indirect subsidiaries entered into a Forbearance Agreement and Fourteenth Amendment (the Fourteenth Amendment) to the Companys loan and security
agreement (the Loan Agreement) with Bank of America N.A. (Bank of America). Under the terms of the Fourteenth Amendment, Bank of America agreed to forebear, until January 31, 2019, from exercising its rights and remedies
as a result of breaches of certain covenants under the Loan Agreement (the Forbearance). The Company and Bank of America are currently negotiating the terms of a further amendment to the Loan Agreement. As negotiations are still ongoing,
on January 30, 2019, Bank of America agreed to extend the Forbearance until February 7, 2019. If the Company is not able to obtain a further amendment of the Loan Agreement or further extend the Forbearance, all principal, interest and
other amounts outstanding under the Loan Agreement will become due and payable upon the earlier of 5 p.m. on February 7, 2019 or any Termination Event (as defined under the Loan Agreement). There can be no assurance that the Company will obtain
such an amendment. Any failure to obtain such an amendment or further forbearance under the Loan Agreement could result in the exercise of remedies by Bank of America, including the acceleration of amounts due under the Loan Agreement and cause the
Company to become unable to operate as a going concern.
The Company currently anticipates that next week it will be able to reach agreement with Bank of
America on an additional extension of 60 to 90 days.
Except for statements of historical fact, the matters discussed herein are forward-looking statements within the meaning of the applicable
securities laws and regulations. The words anticipates, expects, believes, are intended, and similar expressions are intended to identify forward-looking statements, although not all forward-looking
statements contain these identifying words. Forward-looking statements, including statements regarding further amendments to the Loan Agreement involve risks and uncertainties that may cause actual results to differ materially from those stated here
as a result of various factors. Forward-looking statements reflect the views of the Companys management as of the date hereof. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company does not
undertake to revise these statements to reflect subsequent developments.