Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 195

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 4
Chunk 195
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 benefits of possible controls and procedures relative to their costs.

11

PART
II – OTHER INFORMATION

ITEM
1. LEGAL PROCEEDINGS

From
time to time, we may be subject to litigation and claims arising in the ordinary course of business. We are not currently a party to
any material legal proceedings and we are not aware of any pending or threatened legal proceeding against us that we believe could have
a material adverse effect on our business, operating results, cash flows or financial condition.

ITEM
1A. RISK FACTORS

Risk
factors that affect our business and financial results are discussed in Part I, Item 1A “Risk Factors,” in our Annual Report
on Form 10-K for the year ended June 30, 2024 as filed with the SEC on October 1, 2024 (“Annual Report”). Other than the
information set forth in this Form 10-Q, including the section titled “Regulatory Updates,” there have been no material changes
in our risk factors from those previously disclosed in our Annual Report. You should carefully consider the risks described in our Annual
Report which could materially affect our business, financial condition or future results. The risks described in our Annual Report are
not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also
may materially adversely affect our business, financial condition, and/or operating results. If any of the risks actually occur, our
business, financial condition, and/or results of operations could be negatively affected.

ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a)
Recent Sales of Unregistered Securities.

None.

(b)
Use of IPO Proceeds.

On
September 27, 2024, we completed our IPO pursuant to which we issued and sold 2,500,000 shares of common stock at a price of $4.00 per
share. We also issued 375,000 shares of common stock pursuant to the exercise by the underwriters of their over-allotment option, at
a price to the public of $4.00 per share in the second quarter of fiscal 2025. The securities were sold pursuant to our Registration
Statement on Form S-1 (File No. 333-281586) which was declared effective by the SEC on September 25, 2024.

We
received net proceeds of approximately $7.9 million from the sale of the