Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 37

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 approval to make Title IV funds available for students who enroll in the
program). For purposes of our financial statements, Legacy Education, L.L.C. is deemed to have acquired Integrity in December 2019.
As of March 31, 2025, Integrity had 188 students enrolled in its programs.

Contra
Costa Medical Career College

Contra
Costa was established in the state of California in 2007. Contra Costa’s campus is located in Antioch, California. Contra Costa
offers VN, surgical technology, sterile processing technician, medical assisting, diagnostic medical sonography, EKG/ECG technician,
and medical administrative assistant/billing and coding specialist. As of March 31, 2025, Contra Costa had 468 students enrolled in its
programs.

Recent
Developments

Regulatory
Updates

Acquisition
Agreement with Contra Costa Medical Career College

As
previously reported on a Current Report on Form 8-K filed with the SEC, on October 22, 2024, Legacy Education Antioch, LLC, a wholly-owned
subsidiary of Legacy LLC (as defined herein) (the “Buyer”) entered into an asset purchase agreement (the “APA”)
with Legacy Education Inc. (the “Company”), Legacy Education, LLC, a wholly-owned subsidiary of the Company (“Legacy
LLC” and together with the Company and the Buyer, the “Buyer Parties”), Contra Costa Medical Career College, Inc. (“CCMCC”),
Contra Costa Medical Career College Online, Inc. (“CCMCC Online” and together with CCMCC, “Sellers”) and, solely
with respect to certain portions of the APA, Stacey Orozco and Bulmaro Orozco, the sole owners CCMCC and CCMCC Online (the “CCMCC
Transaction”). The CCMCC Transaction was consummated on December 18, 2024.

2

When
a company acquires an institution that is eligible to participate in the Title IV Programs, like CCMCC, the acquisition generally will
result in the institution undergoing a change of ownership resulting in a change of control as defined by ED and under the rules of other
educational agencies and accreditors. Upon such a change, an institution’s eligibility to participate in the Title IV Programs
is generally suspended until it has applied for recertification by ED as an eligible school under its new ownership, which requires that