Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 18

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 18
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 of certain tax attributes of the Blocker Entities; (iii) increases in tax basis resulting from future redemptions or exchanges (or deemed
exchanges in certain circumstances) of Legence Holdings interests for Class A Common Stock or cash and certain distributions (or deemed distributions) by Legence Holdings pursuant to the Exchange Agreement (any resulting tax basis increases,
the “Basis Adjustments”); and (iv) certain additional tax benefits arising from payments made under the Tax Receivable Agreement. We will retain the benefit of the remaining 15% of these cash savings, if any. If the Tax Receivable
Agreement terminates early, we could be required to make a substantial, immediate lump-sum payment. “Certain Relationships and Related Party Transactions—Tax Receivable Agreement” contains
more information.

The Corporate Reorganization lacks economic substance under GAAP and therefore will be accounted for in a manner
consistent with a reorganization of entities under common control. As a result, the consolidated financial statements of the Company will recognize the assets and liabilities received in the reorganization at their historical carrying amounts, as
reflected in the historical financial statements of Legence Holdings. The Company will consolidate Legence Holdings on its consolidated financial statements and record a non-controlling interest related to the
LGN Units held by the LGN Unit Holders.

8

The following diagram depicts our simplified ownership structure immediately following this offering and the transactions related thereto (assuming that the underwriters’ option to purchase additional shares is not exercised):

| (1) | Following the Corporate Reorganization, Blackstone and the Management Members will hold the outstanding                                                                                                                                               
 membership interests of the Aggregators. Blackstone will serve as the managing member of each Aggregator and as a result, may be considered to beneficially own all of our securities held by the Aggregators. The Management Members include Jeffrey 
 Sprau, Stephen Butz, Gregory Barnes and Bryce Seki, in addition to other employees of Legence Parent.                                                                                                                                                 |

We and the selling stockholder have granted the underwriters a 30-dayoption to purchase up to additional shares of Class A Common Stock from us and additional shares of Class A Common Stock from the selling stockholder. We intend to contribute the net proceeds received from the sale of any additional shares by us to Legence Holdings in exchange for additional LGN Units being issued to Legence Sub, and Legence Holdings will use such net proceeds to purchase LGN Units, together with an equal number of shares of Class B Common Stock, from Leg