Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 257

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 257
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 newly created                                                                                                                    
 Legence Parent II LLC (“Legence Parent II”) in exchange for Legence Parent II Common Interests (together with Legence Parent Common Interests, the “Common Interests”) and Legence Parent II Series A Capital Interests (the 
 “Series A Capital Interests”) and Legence Intermediate was liquidated and distributed its remaining interests in Legence Holdings and its 178,571 shares of Class A Common Stock to Legence Parent.                          |

| 5. | Management holders contributed their interests in Legence Parent and Legence Parent II to newly created                                                                                                                       
 entities above Legence Parent and Legence Parent II called Legence Parent Management Aggregator LLC (“Management Aggregator I”) and Legence Parent II Management Aggregator LLC (“Management Aggregator II”, collectively the 
 “Management Aggregators”), respectively, in exchange for interests of the Management Aggregators with similar terms and economics.                                                                                            |

| 6. | Legence Parent subscribed for Class B common stock (“Class B Common Stock”) of Legence Corp.                                                                                                                                                                                                                                          
 for nominal consideration, reflecting its historic indirect ownership of Legence Holdings. Legence Holdings recapitalized its ownership interests into newly issued LGN Units, and Legence Parent retained a portion of their pre-IPO ownership in Legence Holdings through LGN B Units. Refer to “Note 12—Noncontrolling Interests”. |

| 7. | Legence Corp., through its subsidiary, contributed the net proceeds of the offering to Legence Holdings in 
 exchange for newly issued LGN A Units.                                                                     |

| c. | Legence Corp. entered into an exchange agreement (the “Exchange Agreement”) in which the holders of                                                                                                                                                                                                                                                  
 LGN B Units, together with an equal number of corresponding shares of Class B Common Stock, may exchange their interests for shares of Class A Common Stock of Legence Corp. on a one-for-one basis or the cash equivalent thereof (based on the 10-day volume weighted average price of the shares of Class A Common Stock at the time of exchange) 
 as determined by Legence (the “Exchange Right”).                                                                                                                                                                                                                                                                                                     |

F-13

Legence Corp. Notes to Condensed Consolidated Financial Statements - (Continued) (Unaudited)

| d. | The Company entered into a tax receivable agreement (the “TRA”) pursuant to which the Company will                                                                                                                                               
 pay to certain Legacy Owners 85% of the net cash tax savings, if any, that the