Company: LGN
Filing Date: 2025-05-14
Form Type: DRS/A
Source: 0000950123-25-005247
Chunk: 226

Company: Legence Corp.
Filing Date: 2025-05-14
Form: DRS/A
Chunk 226
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 Shares Upon completion of this offering, we will have outstanding an aggregate of shares of Class A Common Stock. Of these shares, all of the shares of Class A Common Stock to be sold in this offering (or shares assuming the underwriters exercise the option to purchase additional shares in full) will be freely tradable without restriction or further registration under the Securities Act, unless the shares are held by any of our “affiliates” as such term is defined in Rule 144. All remaining shares of Class A Common Stock will be deemed “restricted securities” as such term is defined under Rule 144, including the Class A Common Stock issuable upon exchange of LGN Units. The restricted securities were, or will be, issued and sold by us in private transactions and are eligible for public sale only if registered under the Securities Act or if they qualify for an exemption from registration under Rule 144 or Rule 701 under the Securities Act (“Rule 701”), which rules are summarized below. In addition, subject to certain limitations and exceptions, pursuant to the terms of the Exchange Agreement and the Legence Holdings LLC Agreement, the LGN Unit Holders will each have the right to exchange all or a portion of their LGN Units, along with a corresponding number of shares of Class B Common Stock, for Class A Common Stock at an exchange ratio of one share of Class A Common Stock for each LGN Unit (and corresponding share of Class B Common Stock) exchanged, subject to conversion rate adjustments for stock splits, stock dividends and reclassifications or, at our election, an equivalent amount of cash. “Certain Relationships and Related Party Transactions—Exchange Agreement” contains additional information. Upon consummation of this offering and related Corporate Reorganization, the Existing Owners will hold LGN Units (or LGN Units if the underwriters exercise their option to purchase additional shares of Class A Common Stock in full and after giving effect to the application of the net proceeds therefrom), all of which will be exchangeable for shares of our Class A Common Stock, and shares of Class A Common Stock. “Certain Relationships and Related Party Transactions—Legence Holdings LLC Agreement” contains additional information. The shares of Class A Common Stock we issue upon such exchanges would be “restricted securities” as defined in Rule 144 described below. However, upon the closing of this offering, we intend to enter into a registration rights agreement with certain of the Existing Owners that will require us to register under the Securities Act shares of Class A Common Stock owned by the Existing Owners. “Certain Relationships