Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 336

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 336
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, respectively, and the carrying value was $11.8 million and $13.4 million, respectively. As of both March 31, 2025 and December 31, 2024, $11.8 million was
recorded in Long-term debt, net of current portion on the Condensed Consolidated Balance Sheets. As of December 31, 2024, $1.6 million was recorded in Current portion of long-term debt on the Condensed Consolidated Balance Sheet. This
balance was paid during the three months ended March 31, 2025. The remaining promissory notes have a range of stated interest rates from 5.50 - 6.00% and maturities ranging from 2026 - 2028, at which time all principal and interest
are due. The promissory note related to the 2022 acquisition requires the Company to repay all principal and interest earlier if the Company undergoes a change of control as defined in the note agreement.

The Company also financed certain insurance-related payments. As of March 31, 2025 and December 31, 2024 the outstanding balance was
$1.1 million with an interest rate of 8.49% and $2.1 million with an interest rate of 8.49%, respectively. The outstanding balance was included in Current portion of long-term debt on the Condensed Consolidated Balance Sheets.

F-79

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 Legence Holdings LLC and Subsidiaries Notes to Condensed Consolidated Financial Statements—(Continued) (Unaudited) Finance leases The Company’s finance leases consist primarily of vehicle leases. Note 8—Fair Value Measurements The Company recognizes certain financial assets and liabilities at fair value on a recurring basis following the fair value hierarchy detailed in ASC Topic 820, Fair Value Measurement: Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2: Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3: Inputs are unobservable inputs that reflect the reporting entity’s own assumptions on which assumptions the market participants would use in pricing the asset or liability based on the best