Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 335

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 335
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 acquisition of San Jose Boiler and the 2022
acquisition of SC Engineers, and the holders of the promissory notes were related parties as of December 31, 2024 and 2023. As of December 31, 2024 and 2023, the outstanding balance is $14.6 million and $13.8 million,
respectively, and the carrying value is $13.4 million and $12.3 million, respectively. As of December 31, 2024 and 2023, $11.8 million and $12.3 million, respectively, are recorded in Long-term debt, net of current portion
on the Consolidated Balance Sheets. As of December 31, 2024, $1.6 million is recorded in Current portion of long-term debt on the Consolidated Balance Sheets. No amount was included in Current portion of long-term debt as of
December 31, 2023. The promissory notes have a range of stated interest rates from 5.5 – 6% and maturities ranging from 2025 to 2028, at which time all principal and interest are due. The promissory note related to SC Engineers requires
the Company to repay all principal and interest earlier if the Company undergoes a change of control as defined in the note agreement.

F-81

The Company also financed certain insurance-related payments. As of December 31, 2024 and 2023, the outstanding balance is $2.1 million with an interest rate of 8.5% and $2.2 million with an interest rate of 8.4%, respectively. The outstanding balance is included in Current portion of long-term debt. Finance leases See “ Note 8—Leases” for information on finance leases. Note 10—Fair Value Measurements The Company recognizes certain financial assets and liabilities at fair value on a recurring basis following the fair value hierarchy detailed in “ Note 2—Summary of Significant Accounting Policies”. The following table presents the input level used to determine the fair value of the financial instruments measured at fair value on a recurring basis (in thousands):

|                                |     | December 31, 2024 |        |     |         |       |     |         |   |
|:-------------------------------|:----|:------------------|-------:|:----|:--------|------:|:----|:--------|:--|
|                                |     | Level 1           |        |