Legence Announces Closing of Initial Public Offering and Partial Exercise of Overallotment Option

SAN JOSE, Calif., Sept. 15, 2025 (GLOBE NEWSWIRE) -- Legence Corp. ("Legence") announced today the closing of its initial public offering (the "offering") of 26,000,000 shares of its Class A common stock (the "Common Stock") at a price to the public of $28.00 per share. In addition, the underwriters partially exercised their option and purchased 3,487,627 additional shares of Common Stock. The Common Stock began trading on the Nasdaq Global Select Market ("Nasdaq") on September 12, 2025 under the ticker symbol "LGN."

Legence received net proceeds of approximately $780.2 million, after deducting underwriting discounts and commissions. Legence intends to use such net proceeds for the repayment of a portion of outstanding borrowings under its term loan credit facility and for general corporate purposes.

Goldman Sachs & Co. LLC and Jefferies acted as joint lead book-running managers for the offering. BofA Securities, Barclays, Morgan Stanley, RBC Capital Markets, SOCIETE GENERALE, BMO Capital Markets, Cantor, Guggenheim Securities, Wolfe | Nomura Alliance, MUFG, Roth Capital Partners, Santander, Stifel, TD Cowen, BTIG and Rothschild & Co acted as bookrunners, and Blackstone Capital Markets, Drexel Hamilton, Loop Capital Markets, Penserra Securities LLC, Tigress Financial Partners, C.L. King & Associates and Independence Point Securities acted as co-managers for the offering.

A registration statement on Form S-1 relating ...