Company: LGN
Filing Date: 2025-02-14
Form Type: DRS
Source: 0000950123-25-002471
Chunk: 103

Company: Legence Corp.
Filing Date: 2025-02-14
Form: DRS
Chunk 103
---
 2024 gives effect to the Transactions as if they had occurred on December 31, 2024. Reorganization Transactions and Offering Transactions The Company is offering shares of Class A Common Stock in this offering at an assumed initial public offering price of $ per share, which is equal to the midpoint of the estimated offering price range set forth on the cover page of this prospectus. Legence intends to use the proceeds (net of underwriting discounts and commissions and estimated offering expenses payable by Legence) from the issuance of shares ($ ) to acquire an equivalent number of newly issued LGN Units from Legence Holdings, which Legence Holdings will in turn use to repay outstanding indebtedness under the Term Loan Credit Facility totaling approximately $ in aggregate principal amount and approximately $ for general corporate purposes. Legence will bear all of the expenses of this offering. We estimate these offering expenses (excluding underwriting discounts and commissions) will be approximately $ . After giving effect to the Corporate Reorganization and the offering contemplated by this prospectus, Legence will own approximately % of the economic interest in Legence Holdings (or % if the underwriters’ option to purchase additional shares is exercised in full and after giving effect to the application of the net proceeds therefrom). Additionally, Legence will have % of the voting power, thereby controlling the management of Legence Holdings. In addition, Legence will be the sole managing member of Legence Holdings and will be responsible for all operational, management and administrative decisions relating to Legence Holdings’ business and will have the obligation to absorb losses and receive benefits from Legence Holdings. The Corporate Reorganization, whereby Legence will begin to consolidate Legence Holdings and its subsidiaries in its consolidated financial statements, will be accounted for as a reorganization of entities under common control. As a result, the consolidated financial statements of Legence will recognize the assets and liabilities received in the reorganization at their historical carrying amounts, as reflected in the historical consolidated financial statements of Legence Holdings. For a complete description of the Corporate Reorganization, see the section entitled “Corporate Reorganization” included elsewhere in this prospectus. 2. Notes to Unaudited Pro Forma Condensed Consolidated Balance Sheet Transaction accounting adjustments include the following adjustments related to the unaudited pro forma condensed consolidated balance sheet as of December 31, 2024, as follows:

| a) | We are capitalizing one-time incremental direct costs associated with                                                              
 the Transactions. These costs primarily represent legal, accounting and other direct costs and are recorded in Other assets in