Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 152

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 152
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 of December 31, 2024 (notional in thousands):Effective DateMaturity DateNotional Amount (1)Fixed Interest Rate (2)February 28, 2023January 31, 2025$350,0000.8325%February 28, 2023January 31, 2025$109,0001.1740%February 28, 2023January 31, 2025$109,0001.1732%February 28, 2023December 31, 2026$53,500 —$337,5003.4396%February 28, 2023December 31, 2026$53,500 —$337,5003.3750%January 31, 2024December 31, 2026$140,0004.0433%(1)For interest rate swaps with ranges, the notional amount is $53,500 from January 31, 2023 to January 31, 2025 and $337,500 from February 1, 2025 to December 31, 2026.(2)Payments will be made to the Company if the one-month SOFR exceeds the fixed interest rates for the respective interest rate swaps.

Note 10 - Stockholders' Equity / Member's Equity 

Stockholders' EquityPrior to the IPO, Legence Holdings was reorganized to establish the Company’s current UP-C structure, under which Legence Corp., the publicly traded entity, became the sole managing member and consolidates Legence Holdings’ financial results. In connection with the Corporate Reorganization:•Legence Corp. became the sole managing member of Legence Holdings, providing Legence Corp. with 100% of the voting power of Legence Holdings.•All outstanding equity interests of Legence Holdings were recapitalized into LGN A Units and LGN B Units. The number of LGN A Units corresponds on a one-for-one basis with shares of the Company’s Class A Common Stock, while the number of LGN B Units corresponds on a one-for-one basis with shares of the Company’s Class B Common Stock. As of September 30, 2025, Legence Corp. and its subsidiaries held 58,510,567 LGN A Units and Legence Parent held 46,680,762 LGN B Units.•A noncontrolling interest was recognized to reflect the ownership of LGN B Units held by Legence Parent.Amendment and Restatement