Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 167

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 2
Chunk 167
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 who enroll in the program). For purposes of our financial
statements, Legacy Education, L.L.C. is deemed to have acquired Integrity in December 2019. As of December 31, 2024, Integrity had 157
students enrolled in its programs.

Contra
Costa Medical Career College

Contra Costa was established
in the state of California in 2007.  Contra Costa’s campus is located in Antioch, California.   Contra Costa offers
VN, surgical technology, sterile processing technician, medical assisting, diagnostic medical sonography, EKG/ECG technician, and medical
administrative assistant/billing and coding specialist.

Recent
Developments

On
December 18, 2024, Legacy Education Antioch, LLC, a wholly-owned subsidiary of Legacy LLC (as defined herein) (the “Buyer”),
completed its previously announced acquisition of substantially all of the assets comprising the postsecondary institution known as Contra
Costa Medical Career College located in Antioch, California (the “CCMCC Assets”) pursuant to that certain asset purchase
agreement (the “APA”) dated October 22, 2024 by and among the Buyer, Legacy Education Inc. (the “Company”), Legacy
Education, LLC, a wholly-owned subsidiary of the Company (“Legacy LLC” and together with the Company and the Buyer, the “Buyer
Parties”), Contra Costa Medical Career College, Inc. (“CCMCC”), Contra Costa Medical Career College Online, Inc. (“CCMCC
Online” and together with CCMCC, “Sellers”), and, solely with respect to certain portions of the APA, Stacey Orozco
and Bulmaro Orozco, the sole owners CCMCC and CCMCC Online (collectively, the “Owners”), as previously disclosed in the Company’s
Current Report on Form 8-K filed with the Securities and Exchange Commission on October 25, 2024.

Pursuant
to the APA, on the Closing Date, the Buyer acquired the CCMCC Assets for: (i) $6,133,079 paid in cash on the Closing Date (which was
$6,600,000 pursuant to the APA adjusted for certain estimated closing capital as set forth in the APA); (ii) the delivery by the Buyer
to the Sellers of a promissory note (the “Note”) in the principal amount of $400,000, which Note is guaranteed by