Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 952

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7
Chunk 952
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 per share.
Concurrently, the Company issued 2,013 shares as true up shares as a result of the 1-for-2 reverse split. In conjunction with the offering,
the Company granted stock purchase warrants to purchase an aggregate of 143,750 shares of its common stock at an exercise price of $4.60
per share to underwriters.

During
the three months ended December 31, 2024, in connection with the initial public offering, the Company issued 375,000 common shares
in respect to the underwriters’ option to purchase up to an additional 375,000 shares of common stock to cover allotments.

On
December 18, 2024, the Company issued 118,906 common shares pursuant to the terms of the APA.

 A
total of 89,602 stock options were exercised during the year ended June 30, 2025 at $3.74 per share.

No
shares were issued during the year ended June 30, 2024.

As
of June 30, 2025 and June 30, 2024 the Company had 12,452,670 and 9,291,149 shares of common stock outstanding, respectively, and no
shares of preferred stock issued and outstanding.

    F-19

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended June 30, 2025 and 2024

Note
14 - Warrants

Equity
Classified Warrants

September
2024 Common Stock Warrants

In
September 2024, the Company issued warrants to certain underwriters to purchase 143,750 shares of the Company’s common stock in
connection with the Company’s initial public offering for services provided. The warrants were immediately exercisable at a price
of $4.60 per share and have an expiration date of September 27, 2029. At issuance, the fair value of the warrants was determined to be
$227,700 using the Black-Scholes model. As the warrants are accounted for as an equity issuance cost, the fair value of the warrants
was recorded within additional paid-in capital on the Company’s consolidated balance sheets. The warrants are not remeasured in
future periods as they meets the conditions for equity classification.

The
Company valued the warrants, based on a Black-Scholes Option Pricing Method, which included the following inputs:

Schedule
of inputs for Warrant Fair Value measurement

    Expected term