Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 149

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 149
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 reported First Lien Net Leverage Ratio, plus the base rate, which is equal to the greater of (a) the federal funds rate plus 0.50%, (b) the prime rate
and (c) one-month SOFR plus 1.00%. Interest on base rate loans is payable quarterly. Our First Lien Net Leverage Ratio was 5.77, 6.06, 4.43 and 5.94 as of June 30, 2025, December 31, 2024,
December 31, 2023 and December 31, 2022, respectively. Our consolidated pro forma adjusted EBITDA, as defined in the Credit Agreement, was $257.3 million, $248.9 million, $214.2 million and $172.5 million as of June 30,
2025, December 31, 2024, December 31, 2023 and December 31, 2022, respectively. The Credit Agreement defines consolidated pro forma adjusted EBITDA differently than Adjusted EBITDA described herein. The Credit Agreement allows us to
make certain adjustments in calculating consolidated pro forma adjusted EBITDA, some of which are not included in the calculation of Adjusted EBITDA described herein. The interest rate applicable to the term loans was 7.58%, 7.96%, 8.96% and 8.13%
as of June 30, 2025, December 31, 2024, December 31, 2023 and December 31, 2022, respectively.

Legence Holdings can also
elect for advances, including standby letters of credit, under the Revolving Credit Facility to be treated as either SOFR loans or base rate loans. SOFR loans bear interest at a rate equal to SOFR plus 3.50%, 3.75% or 4.00%, which margin is
determined based on the company’s most recently reported First Lien Net Leverage Ratio. SOFR loans are subject to a floor of 0%. Interest on SOFR loans is payable (a) based on the selected interest period if such interest period is less than
three months or (b) quarterly if the selected interest period is three months or longer. Base rate loans bear interest at a rate equal to 2.50%, 2.75% or 3.00%, which margin is determined based on the company’s most recently reported
First Lien Net Le