SAN JOSE, Calif., April  09, 2026  (GLOBE NEWSWIRE) -- Legence Corp. (NASDAQ:LGN) (&#34;Legence&#34; or the &#34;Company&#34;) today announced that it has closed its upsized secondary underwritten public offering (the &#34;offering&#34;) of

Legence Announces Closing of Upsized Secondary Underwritten Public Offering of Class A Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares

Legence Corp Completes Secondary Offering at $54 per Share

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SAN JOSE, Calif., April  09, 2026  (GLOBE NEWSWIRE) -- Legence Corp. (NASDAQ:LGN) (&amp;#34;Legence&amp;#34; or the &amp;#34;Company&amp;#34;) today announced that it has closed its upsized secondary underwritten public offering (the &amp;#34;offering&amp;#34;) of</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Legence Corporation has successfully completed a secondary public offering of approximately 15.4 million shares at $54 each, where Blackstone sold these shares without Legence receiving any proceeds. This move reflects the ongoing confidence of major stakeholders in Legence’s market position as a top provider for engineering services in buildings. The company serves over 60% of Nasdaq-100 clients, indicating substantial industry reliance on its services.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Legence closed a secondary public offering of 15.4 million shares.</li><li>Shares sold by Blackstone were priced at $54.00 each.</li><li>Legence did not sell its shares or receive proceeds from this offering.</li><li>Goldman Sachs, Jefferies, and BofA Securities were lead managers.</li><li>60% of Nasdaq-100 companies are Legence&#039;s clients, indicating strong market position.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Blackstone Inc (BX)</strong>: Selling significant stock might signal changes in ownership patterns.</li><li><strong>Goldman Sachs &amp; Co. LLC (GS)</strong>: Active in the offering; significant due to their financial clout.</li><li><strong>Jefferies LLC (JEF)</strong>: Leading role in the offering indicates confidence in Legence&#039;s valuation.</li><li><strong>BofA Securities (BAC)</strong>: Their involvement suggests strong market interest in the deal.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This announcement falls under Corporate Developments as it highlights significant financial actions involving LGN. The secondary offering suggests an active capital market strategy that may impact LGN&#039;s valuation and stock performance.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The stock could experience volatility due to the large volume of shares sold.</li><li>Market sentiment may be influenced by investor perceptions of Blackstone&#039;s motives.</li><li>Legence&#039;s lack of proceeds could suggest a continued focus on operational stabilizers.</li><li>High client concentration poses risks but also indicates a strong market presence.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>15,394,112 shares were offered, including an additional 2,007,927 shares from underwriters.</li><li>The offering price was set at $54.00 per share.</li><li>Legence did not sell any shares or gain proceeds from the offering.</li><li>Over 60% of Nasdaq-100 companies are clients of Legence.</li><li>Goldman Sachs, Jefferies, and BofA Securities managed the offering.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Consider buying LGN on potential share price stabilization and market confidence.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">SAN JOSE, Calif., April  09, 2026  (GLOBE NEWSWIRE) -- Legence Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/LGN">LGN</a>) ("Legence" or the "Company") today announced that it has closed its upsized secondary underwritten public offering (the "offering") of 15,394,112 shares of its Class A common stock ("Common Stock") by selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") at a price to the public of $54.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 2,007,927 shares of Common Stock on the same terms and conditions.</p>  <p align="justify">Legence did not sell any shares of Common Stock in the offering and did not receive any proceeds from the sale of shares by the Selling Stockholders.</p>  <p align="justify">Goldman Sachs &amp; Co. LLC, Jefferies and BofA Securities acted as joint lead book-running managers. Morgan Stanley &amp; Co. LLC, BMO Capital Markets, MUFG, RBC Capital Markets, Societe Generale, Barclays, Cantor, Guggenheim Securities, Wolfe &#x7C; Nomura Alliance, BTIG, Roth Capital Partners, Rothschild &amp; Co, Santander and Stifel acted as bookrunners, and Blackstone Capital Markets, Tigress Financial Partners, C.L. King &amp; Associates, Drexel Hamilton, Independence Point Securities, Loop Capital Markets and Penserra Securities LLC acted as co-managers for the offering.</p>  <p align="justify">A Registration Statement on Form S-1 relating to these securities (the "Registration Statement") has been filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). The offering was made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Copies of the final prospectus may be obtained from: Goldman Sachs &amp; Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by email at prospectus-ny@ny.email.gs.com; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at 1-877-821-7388, or by email at prospectus_department@jefferies.com; and BofA Securities, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at <a href="mailto:dg.prospectus_requests@bofa.com">dg.prospectus_requests@bofa.com</a>.</p>  <p align="justify">This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.</p>  <p align="justify"><strong>About Legence</strong><br></br>Legence is a leading provider of engineering, consulting, installation, and maintenance services for mission-critical systems in buildings. The Company specializes in designing, fabricating, and installing complex HVAC, process piping, and other mechanical, electrical and plumbing (MEP) systems—enhancing energy efficiency, reliability, and sustainability in new and existing facilities. Legence also delivers long-term performance through strategic upgrades and holistic solutions. Serving some of the world's most technically demanding sectors, Legence counts over 60% of the Nasdaq-100 Index among its clients.</p>  <p align="justify"><strong>Forward-Looking Statements</strong></p>  <p align="justify">Certain statements contained in this press release constitute "forward-looking statements." All statements, other than statements of historical fact, included in this press release, are forward-looking statements. When used in this press release, words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek," "foreseeable," the negative version of these words and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements are not historical facts but rather are based on management's current belief, based on currently available information, as to the outcome and timing of future events, and it is possible that the results described in this press release will not be achieved. Such statements are subject to risks, uncertainties and other factors, many of which are outside of Legence's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, those described under "Risk Factors" in the Registration Statement and "Item 1A. Risk Factors" in Legence's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the "2025 Annual Report"), as filed with the SEC, as such factors may be updated from time to time in Legence's subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Legence does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Legence to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Registration Statement, the 2025 Annual Report and in Legence's subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements.<br></br><br></br><strong>Contact</strong><br></br>Media: <a href="mailto:media@wearelegence.com">media@wearelegence.com</a><br></br>Investor Relations: <a href="mailto:ir@wearelegence.com">ir@wearelegence.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY4NzI2MSM3NTI3NTM3IzIyOTk5Mzc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/NDZhMzdmNDQtY2FhZS00N2MxLWI0ZjQtMDg5M2UxOTliYzkzLTEzMTE0ODctMjAyNi0wNC0wOS1lbg==/tiny/Legence-Corp.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/13492795-ab1b-4c5d-9daa-0e9aa0b5ea9e"><img src="https://ml.globenewswire.com/media/13492795-ab1b-4c5d-9daa-0e9aa0b5ea9e/small/legence-logo-500x500-png.png" border="0" width="150" height="150" alt="Primary Logo"></img></a></p>

Legence Corporation has successfully completed a secondary public offering of approximately 15.4 million shares at $54 each, where Blackstone sold these shares without Legence receiving any proceeds. This move reflects the ongoing confidence of major stakeholders in Legence’s market position as a top provider for engineering services in buildings. The company serves over 60% of Nasdaq-100 clients, indicating substantial industry reliance on its services.

legence-announces-closing-of-upsized-secondary-underwritten-public-offering-of-class-a-common-stock-and-full-exercise-of-underwriters-option-to-purchase-additional-shares

Legence Announces Closing of Upsized Secondary Underwritten Public Offering of Class A Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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