Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 221

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 221
---
 of Legence Holdings;
(ii) second, to establish cash reserves for contingent or unforeseen liabilities; and (iii) third, to the members in proportion to the number of LGN Units owned by each of them.

Amended and Restated Certificate of Incorporation

Our amended and restated certificate of incorporation will provide Blackstone with the right to designate or nominate a majority of the members
of our board of directors so long as it and its affiliates collectively beneficially own at least 50% of the voting power of our capital stock entitled to vote generally in the election of directors. When Blackstone and its affiliates collectively
beneficially own less than 50% but at least 20% of the voting power of our capital stock entitled to vote generally in the election of directors, they will have the right to generally designate or nominate a proportional number of directors to our
board of directors. When Blackstone and its affiliates collectively beneficially own less than 20% but at least 5% of the voting power of our capital stock entitled to vote generally in the election of directors, they will have the right to
designate or nominate one director to our board of directors.

Registration Rights Agreement

In connection with the closing of this offering, we will enter into a registration rights agreement with the Aggregators and certain of the
Existing Owners that join the registration rights agreement, granting them registration rights. Under the registration rights agreement, we will agree to register the sale of shares of our Common Stock held by the Aggregators and such Existing
Owners under certain circumstances, and to provide such stockholders with certain customary underwritten offering, block trade and piggyback rights.

Exchange Agreement

In connection with
the completion of this offering, we and Legence Holdings will enter into an Exchange Agreement with Legence Parent pursuant to which it (including certain permitted transferees thereof) may, subject to the terms of the Exchange Agreement and the
Legence Holdings LLC Agreement, exchange its LGN

160

Units, along with a corresponding number of shares of Class B Common Stock, for shares of Class A Common Stock on a one-for-one basis, subject to customary conversion rate adjustments for stock
splits, stock dividends and reclassifications. At our election we may give the exchanging LGN Unit Holders, including Legence Parent, cash in an amount equal to the value of such Class A Common Stock instead of shares of Class A Common Stock. The
Exchange Agreement also provides such LGN Unit Holders will not have the