Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 107

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 107
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 repay
outstanding indebtedness under the Term Loan Credit Facility totaling approximately $ in aggregate principal amount and approximately $ for general corporate purposes. Legence will bear all of the expenses
of this offering. We estimate these offering expenses (excluding underwriting discounts and commissions) will be approximately $ .

After giving effect to the Corporate Reorganization and the offering contemplated by this prospectus, the Company will own (including through
the Pubco Subsidiaries) approximately % of the economic interest in Legence Holdings (or % if the underwriters’ option to purchase additional shares is exercised in full and after giving effect to the application of the net
proceeds therefrom). Additionally, the Company will have (including through the Pubco Subsidiaries) % of the voting power, thereby controlling the management of Legence Holdings. In addition, Legence will be the managing member of Legence
Holdings and therefore the Company will be responsible for all operational, management and administrative decisions relating to Legence Holdings’ business and will have the obligation to absorb losses and receive benefits from Legence
Holdings. The Corporate Reorganization, whereby the Company will begin to consolidate Legence Holdings and its subsidiaries in its consolidated financial statements, 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 consolidated financial statements of Legence Holdings.

For a complete description of the Corporate
Reorganization, see the section entitled “Corporate Reorganization” included elsewhere in this prospectus.

74

2. Notes to Unaudited Pro Forma Condensed Consolidated Balance Sheet Transaction accounting adjustments include the following adjustments related to the unaudited pro forma condensed consolidated balance sheet as of June 30, 2025, as follows:

| a) | We are capitalizing one-time incremental direct costs associated with                                                                                                                                                                                     
 the Transactions. These costs primarily represent legal, accounting and other direct costs and are recorded in Other assets in our condensed consolidated balance sheet. Upon completion of this offering, these capitalized costs will be offset against 
 the proceeds raised from this offering as a reduction of additional paid-in capital.                                                                                                                                                                      |

| b) | Legence Holdings will be treated as a partnership for U.S. federal income tax purposes. As such, Legence                                                                                                                                            
 Holdings’ earnings and losses will flow through to its partners,