Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 215

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 215
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 the Tax Receivable Agreement terminates early, we could be required to make a substantial, immediate lump-sum payment. “Certain Relationships and Related Party Transactions—Tax Receivable Agreement” contains more information.

The Corporate Reorganization lacks economic substance under GAAP and therefore will be accounted for in a manner consistent with a
reorganization of entities under common control. As a result, the consolidated financial statements of the Company will recognize the assets and liabilities received in the reorganization at their historical carrying amounts, as reflected in the
historical financial statements of Legence Holdings. The Company will consolidate Legence Holdings on its consolidated financial statements and record a non-controlling interest related to the LGN Units held
by the LGN Unit Holders.

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The following diagram depicts our simplified ownership structure immediately following this offering and the transactions related thereto (assuming that the underwriters’ option to purchase additional shares is not exercised):

| (1) | Following the Corporate Reorganization, Blackstone and the Management Members will hold the outstanding                                                                                                                                               
 membership interests of the Aggregators. Blackstone will serve as the managing member of each Aggregator and as a result, may be considered to beneficially own all of our securities held by the Aggregators. The Management Members include Jeffrey 
 Sprau, Stephen Butz, Gregory Barnes and Bryce Seki, in addition to other employees of Legence Parent.                                                                                                                                                 |

We and the selling stockholder have granted the underwriters a 30-dayoption to purchase up to additional shares of Class A Common Stock from us and additional shares of Class A Common Stock from the selling stockholder. We intend to contribute the net proceeds received from the sale of any additional shares by us to Legence Holdings in exchange for additional LGN Units being issued to Legence Sub, and Legence Holdings will use such net proceeds to purchase LGN Units, together with an equal number of shares of Class B Common Stock, from Legence Parent at a purchase price per LGN Unit and share of Class B Common Stock equal to the public offering price per share of Class A Common Stock in this offering, net of underwriting discounts and commissions. We will not receive any proceeds from the sale of additional shares by the selling stockholder. Offering Only Class A Common Stock will be sold to investors pursuant to this offering. Immediately following this offering, there will be shares of Class A Common Stock issued and outstanding and shares of Class A Common Stock reserved for exchanges of LGN Units (and the cancellation of the corresponding shares of Class B Common Stock pursuant