Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 191

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 3
Chunk 191
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Statement on Form S-1 (File No. 333-281586) which was declared effective by the SEC on September 25, 2024.

We
received net proceeds of approximately $7.9 million from the sale of the 2,500,000 shares of common stock after deducting underwriting
discounts and commissions and offering expenses We also received net proceeds of approximately $1.4 million, which includes 375,000 shares
of common stock issued pursuant to the exercise by the underwriters of their over-allotment option, after deducting underwriting discounts
and commissions and offering expenses.

The
offering commenced on September 25, 2024, and did not terminate before all securities registered in the registration statement were sold.

None
of the expenses incurred by us were direct or indirect payments to any of (i) our directors or officers or their associates, (ii) persons
owning 10% or more of our common stock, or (iii) our affiliates. Northland Securities, Inc., acted as book-running manager and representative
of the underwriters for the IPO.

There
has been no material change in the planned use of proceeds from our IPO from that described in the final prospectus related to the offering,
dated September 25, 2024, as filed with the SEC on September 27, 2024.

(c) Issuer Purchases of Equity
Securities.

None.

ITEM
3. DEFAULTS UPON SENIOR SECURITIES

None.

12

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

ITEM
5. OTHER INFORMATION

During
our quarter ended March 31, 2025, none of our directors or executive officers adopted, modified or terminated a “Rule
10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” as such terms are defined under Item 408 of Regulation
S-K of the Exchange Act.

ITEM
6. EXHIBITS

    Exhibit
    No.
     
    Description
  
    31.1*
     
    Certification
    of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant
    to Section 302 of the Sarbanes-Oxley Act of 2002
  
    31.2*
     
    Certification
    of