Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 3

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 3
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    In December 2019, we acquired
    a 24.5% ownership interest in Integrity.
  
    ●
    In September 2020, we acquired
    the remaining 75.5% interest in Integrity.
  
    ●
    In 2021 and 2022, we received
    hybrid approval for all programs, launched new accredited programs of Cardiac Sonography AAS, Vocational Nursing AAS, and Ultrasound
    AAS in CCC, and obtained the Vocational Nursing program in HDMC Temecula.
  
    ●
    In 2023, we launched new
    accredited programs of Certified Nurse Assistant program at HDMC, Magnetic Resonance Imaging AAS (HDMC), Veterinary Assisting (ICH),
    Vocational Nursing (CCC), RN approval (HDMC).
  
    ●
    In January 2024, we started
    our first Associates Degree of Nursing program (HDMC).
  
    ●
    
    In
        April 2024, HDMC was re-accredited by ACCET through April 2029 for all programs.

    ●
    In December 2024 we acquired the assets of Contra Costa Medical Career College
  
    ●
    In
    April 2025, CCC was re-accredited by ACCET through April 2030 for all programs.
  
    ●
    In
                                            June 2025 Integrity earned initial accreditation from the National League for Nursing Commission
                                            for Nursing Education Accreditation (NLN CNEA) for its Bachelor of Science in Nursing RN-
                                            BSN Track through February 2031.

7

Industry
Background

In
the United States, the post-secondary education market is large, fragmented, and competitive. According to National Center for Educational
Statistics, as of the 2022-23 school year, degree granting career colleges served approximately 1.7 million undergraduate students, which was approximately 8.0% of the estimated 21.5 million total undergraduates in degree
programs. Further, the COVID-19 pandemic significantly reduced the
number of students enrolled in post-secondary education institutions in recent years. According to estimates released by the National
Student Clearinghouse Research Center, total enrollments in all higher education sectors increased 2.4% and 3.2% in the spring of 2024 and 2025, respectively. Enrollment at proprietary colleges increased 5.1% and 3.7%