Robert V. LaPenta proposed to acquire an additional 54% stake in Revolution Lighting Technologies, Inc. (NasdaqCM:RVLT) for $26.4 million on October 16, 2018. Robert V. LaPenta offered to acquire an additional 54% stake in Revolution Lighting Technologies, Inc. (NasdaqCM:RVLT) for $19.8 million on November 14, 2018. LaPenta proposed to acquire all of the shares of Common Stock of Revolution not currently beneficially owned by it or its affiliates for a price of $2 per share. As per revised terms, LaPenta proposed to acquire all of the shares of Common Stock of Revolution not currently beneficially owned by it or its affiliates for a price of $1.5 per share. Revolution’s overall debt as of November 12, 2018 was $65 million and will rise further as additional debt financing is provided. This increased amount of debt which exceeds the amount that LaPenta expected Revolution to have at the time of Offer Letter, as well as an anticipated delay in completing a going private transaction and the developments in Revolution’s business, including the SEC investigation and the Audit Committee’s review, necessitated a decrease from the $2 per share offer to a revised offer of $1.5 per share. The transaction consideration and satisfy the related fees and expenses in connection therewith will be funded from cash and liquid assets on hand. The transaction is subject to the Board of Directors forming a fully empowered and properly constituted special committee of independent directors, which is empowered to select its own advisors, to consider the fairness to the Revolution Lighting stockholders of the proposal (or any other strategic alternatives) and negotiate the terms of any definitive documentation with respect to any resulting transaction and approval of holders of a majority of Revolution Lighting disinterested stockholders. On October 22, 2018, Revolution’s Board of Directors has formed and fully empowered a committee comprising solely independent directors for the purpose of evaluating and negotiating any transaction with LaPenta and to otherwise evaluate Revolution’s strategic alternatives. H.C. Wainwright & Co. acted as financial advisor while Richards, Layton & Finger, P.A. acted as legal counsel to the transaction committee of Revolution Lighting Technologies. Schulte Roth & Zabel LLP is acting as counsel to Robert V. LaPenta.