Entry into a Material Definitive Agreement.
As previously disclosed in the Current Report on Form
filed by Revolution Lighting Technologies, Inc. (the
Company) on May 6, 2019, the Company previously entered into a Second Amendment to Forbearance Agreement and Sixteenth Amendment (the Sixteenth Amendment) to its loan and security agreement (the Loan
Agreement) with Bank of America N.A. (Bank of America). Under the terms of the Sixteenth Amendment, Bank of America agreed to forebear, until July 31, 2019, from exercising its rights and remedies as a result of breaches of
certain covenants under the Loan Agreement.
On July 30, 2019, Bank of America approved an extension of the forbearance period under the Sixteenth
Amendment from July 31, 2019 to August 15, 2019. All of the other terms and conditions of the Loan Agreement and the Sixteenth Amendment remain in full force and effect. If the Company is not able to obtain a further amendment of the Loan
Agreement or 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 August 15, 2019 or any Termination Event (as defined in the Loan
Agreement, as amended).
The Company is working with Bank of America to further amend the Loan Agreement to provide for ongoing borrowing availability and
a continuing forbearance following August 15, 2019. However, there can be no assurance that the Company will obtain such an amendment.
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 expects, believes, are intended,
plans, 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 and future borrowing under 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. Factors that could cause actual
results to differ materially from those in the forward-looking statements include, but are not limited to, the risks described in the Companys filings with the Securities and Exchange Commission. 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.