Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 236

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 236
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 A Common Stock in the public market after such restrictions lapse, or the perception that those sales may occur, could adversely affect the prevailing market price of our Class A Common Stock at such time and our ability to raise equity-related capital at a time and price we deem appropriate. Sales of Restricted 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 and other than certain shares sold pursuant to our directed share program that are subject to “lock-up” restrictions as described under “—Lock-up Agreements” below and “Underwriting (Conflicts of Interest)—Directed Share Program.” 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,