Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 144

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 144
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 activities increased by $135.3 million for the three months ended March 31, 2025, compared to the three
months ended March 31, 2024. The increase is primarily attributable to an increase in term loan borrowings of $122.5 million. Additionally, payments for deferred offering costs amounted to $7.4 million, contributing to the overall
increase in cash flows from financing activities. Furthermore, payments on notes payable and term loan payments increased by $2.2 million and $3.6 million, respectively, for the current year period.

102

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 Cash flows provided by financing activities increased by $78.5 million during 2024 compared to 2023. The increase is primarily attributable to a $410.0 million increase in proceeds from borrowings, partially offset by the $300.1 million increase in the cash distributions to Legence Parent and the $27.0 million increase in the payment of contingent earnouts from acquisitions. Cash flows provided by financing activities decreased by $45.3 million during 2023 compared to 2022. The decrease is primarily attributable to a $41.2 million decrease in proceeds from issuance of membership units, as membership units were issued for cash in 2022. Debt Debt obligations consist of the following (dollars in thousands):

|                                                     |     |   |        As of 
 December 31, 
         2024 |   |     |   |     As of 
 March 31, 
      2025 |   |
|:----------------------------------------------------|:----|:--|-------------:|:--|:----|:--|----------:|:--|
| Term loan                                           |     | $ |    1,590,350 |   |     | $ | 1,586,241 |   |
| Notes payable                                       |     |   |       27,083 |   |     |   |    24,414 |   |
| Finance lease liabilities                           |     |   |        7,216 |   |     |   |     8,114 |   |
| Total Debt                                          |     | $ |    1,624,649 |   |     | $ | 1,618,769 |   |
| Less: Current portion                               |     |   |      (22,984 | ) |     |   |   (20,556