Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 131

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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, 2025, the Company had 110,000,000 shares of authorized capital, par value $0.001, of which 100,000,000
shares are designated as common stock, and 10,000,000 shares are designated as preferred stock.

Equity
Transactions

During
the three months ended September 30, 2025, 44,357 stock options were exercised at $3.74 per share of common stock.

In
August 2024, 76,000 stock options were exercised at $0.52 per share of common stock.

On
September 27, 2024, the Company completed its initial public offering of 2,500,000 shares of common stock, priced at $4.00 per share.
Concurrently, the Company issued 2,013 shares as true up shares as a result of the 1-for-2 reverse split. In conjunction with the offering,
the Company granted stock purchase warrants to purchase an aggregate of 143,750 shares of its common stock at an exercise price of $4.60
per share to underwriters.

During
the three months ended December 31, 2024, in connection with the initial public offering, the Company issued 375,000 common shares in
respect to the underwriters’ option to purchase up to an additional 375,000 shares of common stock to cover allotments.

On
December 18, 2024, the Company issued 118,906 common shares pursuant to the terms of the APA.

A
total of 89,602 stock options were exercised during the year ended June 30, 2025 at $3.74 per share.

As
of September 30, 2025 and June 30, 2025 the Company had 12,497,027 and 12,452,670 shares of common stock outstanding, respectively, and
no shares of preferred stock issued and outstanding.

Note
14 - Warrants

Equity
Classified Warrants

September
2024 Common Stock Warrants

In
September 2024, the Company issued warrants to certain underwriters to purchase 143,750 shares of the Company’s common stock in
connection with the Company’s initial public offering for services provided. The warrants were immediately exercisable at a price
of $4.60 per share and have an expiration date of September 27, 2029. At issuance, the fair value of the warrants was determined to be
$227,