Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 106

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 106
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 days after the change. CCMCC submitted the application on December 23, 2024. By letter
    dated January 29, 2025, ABHES approved the change in ownership.

    ●
    California
    Board of Vocational Nursing and Psychiatric Technicians (“BVNPT”): BVNPT instructed CCMCC to submit formal notification
    of the change of ownership after receiving BVNPT’s approval to admit a new class of students. CCMCC received such approval
    on February 4, 2025 and submitted the required form for the change of ownership on February 12, 2025, and is awaiting approval.

    ●
    California
    Department of Public Health, Laboratory Field Services (“CDPH”): CDPH requires certain training programs undergoing
    a change of ownership to notify CDPH within 30 days after the change has occurred and submit a new application package. CCMCC notified
    CDPH of the change and submitted the application on February 6, 2025, and is awaiting approval.

If
agencies require us to obtain other approvals in connection with the CCMCC Transaction, we will be required to undergo an application
process for approvals from the applicable agencies and could be subject to conditions or restrictions (or loss of approval) depending
on the outcome of the approval process. If any applicable agencies determine that we did not follow required procedures in providing
notification and seeking approval of the CCMCC Transaction, or if any agencies do not approve the CCMCC Transaction, we could be subject
to sanctions by the applicable agencies including loss of CCMCC’s approvals from these agencies.

64

Other
types of transactions could constitute a change in ownership and control that requires the institution to obtain approvals from ED and
applicable state and accrediting agencies in order to remain eligible to participate in the Title IV Programs and continue to operate
as an accredited institution in the states where the institution operates.

In
addition to school acquisitions, other types of transactions can also cause a change of control. ED, most of our state education agencies,
our accreditors, and other regulators have standards pertaining to the change of control of schools, but these standards are not uniform.
ED regulations describe some transactions that constitute a change of control, including the transfer of a controlling interest in the
voting stock of an institution or the institution’s parent corporation including our Company. A significant purchase or disposition
of our common stock could be determined