Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 134

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 134
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 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.

91

Debt Debt obligations consist of the following (dollars in thousands):

|                                                     |     |   |        As of 
 December 31, 
         2024 |   |     |   |         As of 
 September 30, 
          2025 |   |
|:----------------------------------------------------|:----|:--|-------------:|:--|:----|:--|--------------:|:--|
| Term loan                                           |     | $ |    1,590,350 |   |     | $ |       797,772 |   |
| Notes payable                                       |     |   |       27,083 |   |     |   |        28,363 |   |
| Finance lease liabilities                           |     |   |        7,216 |   |     |   |        10,119 |   |
| Total Debt                                          |     |   |    1,624,649 |   |     |   |       836,254 |   |
| Less: Current portion                               |     |   |      (22,984 | ) |     |   |       (16,301 | ) |
| Less: Unamortized debt issuance costs and discounts |     |   |      (15,819 | ) |     |   |        (7,325 | ) |
| Long-term debt                                      |     | $ |    1,585,846 |   |     | $ |       812,628 |   |

The ensuing summary and discussion are not a complete description of all of the terms of our significant debt instruments. Please refer to “Note 9—Debt” and “Note 17—Related Party Transactions” in the Notes to Consolidated Financial Statements and “Note 7—Debt” and “Note 13—Related Party Transactions” in the Notes to Condensed Consolidated Financial Statements for further information. Credit Agreement On December 16, 2020, Legence Intermediate and Legence Holdings entered into the Credit Agreement, which provided for (a) a term loan credit facility having