Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 16

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 16
---
-Cstructure will also provide potential future tax benefits for both the public company and the LGN Unit Holders when they ultimately exchange their pass-through interests for shares of Class A Common Stock, which is expected to result in tax basis adjustments in the assets of Legence Holdings and produce favorable tax attributes for us. Immediately after the consummation of the Corporate Reorganization as described herein and this offering, our principal asset will be our ownership interests in Legence Holdings. See “Corporate Reorganization— Holding Company Structure” and “Certain Relationships and Related Party Transactions—Tax Receivable Agreement.” In connection with this offering: (a) Legence Parent formed Legence; (b) the ownership interests in Legence Holdings will be recapitalized into two classes of common equity limited liability company units (defined herein as LGN Units); (c) Legence Intermediate will distribute a portion of its interests in Legence Holdings to Legence Parent, which will in turn distribute such interests to certain of the Existing Owners; (d) such Existing Owners will contribute all of, and Legence Intermediate will contribute a portion of, their interests in Legence Holdings directly, or indirectly by contribution of interests in Blocker Entities holding interests in Legence Holdings, to Legence in exchange for newly issued Class A Common Stock; (e) such Existing Owners will contribute such Class A Common Stock received to Legence Parent II, and Legence Intermediate will liquidate and distribute such Class A Common Stock and its remaining interests in Legence Holdings to Legence Parent; (f) Legence Parent will subscribe for newly issued Class B Common Stock from Legence in exchange for nominal consideration as a result of its historic indirect ownership of Legence Holdings, and certain of the Existing Owners will continue to hold a portion of their pre-initialpublic offering (“IPO”) ownership interest in Legence Holdings through Legence Parent; (g) Legence (through Legence Sub) will contribute the net proceeds of this offering to Legence Holdings in exchange for newly issued LGN Units; and (h) the Legence Holdings LLC Agreement will be amended and restated to, among other things, make Legence the managing member of Legence Holdings (such transactions, the “Corporate Reorganization”). After giving effect to these transactions and the offering contemplated by this prospectus, (a) Legence will own (including through the Pubco Subsidiaries) an approximate % economic interest in Legence Holdings (or % if the underwriters’ option to purchase additional shares is exercised in full and after giving