On October 18, 2018, RVL 1 LLC announced that it has sent a letter to Revolution Lighting Technologies, in which RVL made a proposal to acquire all of the shares of Common Stock of the Company not currently beneficially owned by it or its affiliates for a price of $2.00 per share Inc. RVL stated that it is constantly evaluating its investment in the Company and the Company’s business, financial performance and liquidity situation. RVL added that the Company’s recent financial performance has made clear to RVL that, in its opinion, the Company can no longer continue to operate in the way it historically has operated.