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Legence Announces Full Exercise and Closing of Over-allotment Option

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SAN JOSE, Calif., Jan. 08, 2026 (GLOBE NEWSWIRE) -- Legence Corp. (Nasdaq: LGN) (“Legence”) today an...

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AI Summary

Legence Corp. announced the successful completion of a secondary stock offering where underwriters purchased an additional 1,260,326 shares at $45.00 per share. The company did not sell or profit from the shares, focusing on enhancing energy efficiency in mission-critical building systems.

Trading Thesis

LGN's stock may remain stable due to lack of direct proceeds from this offering.

Market-Moving

  • Investors may view the secondary offering as a dilution risk.
  • Legence's stable business model supports growth potential despite secondary offering.
  • Blackstone's involvement indicates institutional confidence in Legence's long-term prospects.
  • The successful offering may improve liquidity in the LGN stock.
  • LGN's focus on energy-efficient services aligns with increasing industry demand.

Key Facts

  • Legence raised funds through a secondary offering of 1,260,326 shares.
  • Shares were priced at $45.00 per share.
  • The offering was fully exercised by underwriters.
  • Goldman Sachs and Jefferies acted as joint lead managers for the offering.
  • Legence focuses on MEP systems in technically demanding sectors.

Companies Mentioned

  • Blackstone Inc. (BX): Strengthens investor confidence in Legence's growth.
  • Goldman Sachs & Co. (GS): Highlighted as a major manager for Legence's offering.
  • Jefferies LLC (JEF): Another key manager supporting Legence’s capital structure.

Corporate Developments

The announcement falls under corporate developments due to the secondary offering, which can influence investor sentiment and stock liquidity. Such offerings are common in growing companies looking to optimize their capital structure.

FAQ

Why Neutral?

The offering was fully priced and did not involve capital coming into LGN; investors may see it as non-dilutive but could still perceive dilution risk.

How important is it?

The importance score reflects the offering's immediate impact on liquidity and investor confidence, which, while significant, is limited by the lack of direct capital impact on Legence.

Why Short Term?

Short-term market reactions might be muted as the offering has completed, though investor sentiment may fluctuate as the company’s operational performance unfolds.

Related Companies

BXGSJEF

Legence Corp. Completes Full Exercise of Over-allotment Option in Public Offering

San Jose, California, January 8, 2026 - Legence Corp. (Nasdaq: LGN) has announced the successful completion of the underwriters’ option related to its upsized secondary underwritten public offering of Class A common stock. The offering included a total of 8,402,178 shares, with an additional 1,260,326 shares purchased at a public offering price of $45.00 per share. This marks a significant development for Legence and its shareholders.

Key Details of the Offering

The option exercised by the underwriters closed today, January 8, 2026. It is important to note that Legence did not sell any shares during the offering and did not receive any proceeds from the sales executed by the selling stockholders affiliated with Blackstone Inc.

  • Total shares offered: 8,402,178 shares
  • Additional shares purchased: 1,260,326 shares
  • Public offering price: $45.00 per share

Underwriters and Managers

Goldman Sachs & Co. LLC and Jefferies LLC served as the joint lead book-running managers for this public offering. A wide array of financial institutions assisted as bookrunners and co-managers, including:

  • Morgan Stanley
  • BofA Securities
  • Barclays
  • BMO Capital Markets
  • MUFG
  • RBC Capital Markets
  • SOCIAL GENERALE
  • Cantor
  • Guggenheim Securities
  • Wolfe | Nomura Alliance
  • BTIG
  • Roth Capital Partners
  • Rothschild & Co
  • Santander
  • Stifel

Regulatory Compliance and Prospectus Information

A registration statement on Form S-1 pertaining to these securities has been duly filed with and declared effective by the Securities and Exchange Commission. Interested parties can obtain copies of the final prospectus through the following channels:

For Goldman Sachs & Co. LLC:

  • Address: 200 West Street, New York, NY 10282
  • Phone: 1-866-471-2526
  • Email: prospectus-ny@ny.email.gs.com

For Jefferies LLC:

  • Address: 520 Madison Avenue, New York, NY 10022
  • Phone: 1-877-821-7388
  • Email: prospectus_department@jefferies.com

About Legence Corp. (Nasdaq: LGN)

Legence is recognized as a leading provider of engineering, consulting, installation, and maintenance services for mission-critical systems in a variety of building infrastructures. The company excels in designing, fabricating, and installing complex HVAC, process piping, and other mechanical, electrical, and plumbing (MEP) systems. Legence is committed to enhancing energy efficiency, reliability, and sustainability in both new and existing facilities. Furthermore, the company offers long-term performance through strategic upgrades and holistic solutions.

Boasting a diverse clientele, Legence serves more than 60% of the Nasdaq-100 Index, highlighting its established presence in technically demanding sectors.

Contact Information

For media inquiries, please contact:

Email: media@wearelegence.com

For investor relations, please reach out to:

Email: ir@wearelegence.com

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