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Legence (NASDAQ:LGN) has successfully completed its Initial Public Offering (IPO), selling 26,000,000 shares of Class A common stock at $28.00 per share. The underwriters also partially exercised their option to purchase an additional 3,487,627 shares.
The company began trading on the Nasdaq Global Select Market on September 12, 2025, raising net proceeds of approximately $780.2 million after deducting underwriting discounts and commissions. The funds will be used to repay a portion of outstanding term loan borrowings and for general corporate purposes.
The IPO was led by Goldman Sachs and Jefferies as joint lead book-running managers, with several other prominent financial institutions serving as bookrunners and co-managers.
Legence (NASDAQ:LGN) ha concluso con successo la sua Initial Public Offering (IPO), vendendo 26.000.000 azioni ordinarie di classe A a 28,00 dollari per azione. Anche gli underwriter hanno esercitato in parte l’opzione per acquistare ulteriori 3.487.627 azioni.
L’azienda ha iniziato a negoziarsi sul Nasdaq Global Select Market il 12 settembre 2025, incassando proventi netti di circa 780,2 milioni di dollari dopo aver detratto sconti e commissioni di sottoscrizione. I fondi saranno utilizzati per rimborsare una parte dei prestiti a termine in essere e per scopi aziendali generali.
L’IPO è stata guidata da Goldman Sachs e Jefferies come joint lead book-running managers, con altre prestigiose istituzioni finanziarie che hanno agito come bookrunners e co-managers.
Legence (NASDAQ:LGN) ha completado con éxito su Oferta Pública Inicial (IPO), vendiendo 26.000.000 acciones de clase A común a 28,00 dólares por acción. Los underwriters también ejercieron parcialmente su opción para comprar 3.487.627 acciones adicionales.
La empresa comenzó a cotizar en el Nasdaq Global Select Market el 12 de septiembre de 2025, obteniendo ingresos netos de aproximadamente 780,2 millones de dólares tras deducir descuentos y comisiones. Los fondos se utilizarán para pagar una parte de los préstamos a plazo pendientes y para fines corporativos generales.
La IPO estuvo liderada por Goldman Sachs y Jefferies como co-líderes de book-running, con varias otras instituciones financieras destacadas actuando como bookrunners y co-managers.
Legence (NASDAQ:LGN)는 성공적으로 IPO를 완료했으며, 주당 28.00달러에 클래스 A 보통주 2,600만 주를 판매했습니다. 또한 인수사들이 옵션의 일부를 행사해 추가로 3,487,627주를 매입했습니다.
회사는 Nasdaq Global Select Market에서 2025년 9월 12일에 거래를 시작했고, 인수 수수료를 차감한 순수익은 약 7억 8020만 달러에 이릅니다. 자금은 남아 있는 기간대출의 일부를 상환하고 일반 기업 용도로 사용될 예정입니다.
IPO는 골드만삭스와 Jefferies가 공동 리드 북런너로 주도했고, 다수의 다른 주요 금융기관들이 북런너 및 공동 관리자로 참여했습니다.
Legence (NASDAQ:LGN) a brillamment complété son offre publique initiale (IPO), en vendant 26 000 000 actions ordinaires de classe A à 28,00 dollars par action. Les souscripteurs ont également partiellement exercé leur option pour acheter 3 487 627 actions supplémentaires.
L’entreprise a commencé à négocier sur le Nasdaq Global Select Market le 12 septembre 2025, générant des produits nets d’environ 780,2 millions de dollars après déduction des remises et commissions d’introduction. Les fonds serviront à rembourser une partie des prêts à terme en cours et à des fins générales de l’entreprise.
L’IPO a été dirigée par Goldman Sachs et Jefferies en tant que co-leaders de la book-running, avec plusieurs autres institutions financières éminentes agissant comme bookrunners et co-managers.
Legence (NASDAQ:LGN) hat erfolgreich seinen Börsengang (IPO) abgeschlossen und 26.000.000 Aktien der Class-A-Stammaktien zu 28,00 USD pro Aktie verkauft. Die Underwriter haben auch teilweise ihr Optionsrecht ausgeübt und zusätzlich 3.487.627 Aktien erworben.
Das Unternehmen begann am 12. September 2025 den Handel am Nasdaq Global Select Market und erzielte Nettomittel von ca. 780,2 Mio. USD nach Abzug von Underwriting-Discounts und Provisionen. Die Mittel werden verwendet, um einen Teil der ausstehenden Term Loan-Borrowings zurückzuzahlen und für allgemeine Unternehmenszwecke.
Die IPO wurde von Goldman Sachs und Jefferies als gemeinsame führende Book-Running-Manager geleitet, wobei mehrere andere namhafte Finanzinstitute als Bookrunners und Co-Managers fungierten.
ليجينس (المدرجة في ناسداك: LGN) أكملت بنجاح العرض العام الأولي (IPO)، ببيع 26,000,000 سهماً من الفئة A بسعر 28.00 دولاراً للسهم. كما قام المكتتبون بممارسة خيارهم جزئياً لشراء 3,487,627 سهماً إضافياً.
بدأت الشركة التداول في Nasdaq Global Select Market في 12 سبتمبر 2025، محققة صافي عوائد يصل إلى نحو 780.2 مليون دولار بعد خصم عمولات الاكتتاب. ستستخدم الأموال لسداد جزء من القروض الأجل المستحقة ولأغراض الشركة العامة.
قاد الاكتتاب Goldman Sachs وJefferies كمديرين رئيسيين مشتركين، مع مشاركة عدة مؤسسات مالية بارزة أخرى كممنسقي كتب ومتعاونين.
Legence（纳斯达克代码：LGN） 已成功完成首次公开募股（IPO），以每股 28.00 美元的价格出售2,600万股A 类普通股。承销商也部分行使其超额配售权，额外购买了3,487,627 股。
公司于2025 年 9 月 12 日在纳斯达克全球精选市场开始交易，扣除承销折扣和佣金后的净收益约为7.802 亿美元。本轮募集资金将用于偿还部分现有长期贷款并用于一般企业用途。
此次 IPO 由 Goldman Sachs 与 Jefferies 共同担任主承销商，其他多家知名金融机构担任账簿管理人及承销团成员。
Positive
- Successful IPO raising substantial net proceeds of $780.2 million
- Strong underwriter support with multiple top-tier investment banks
- Strategic use of proceeds to reduce debt through term loan repayment
Negative
- Significant debt level requiring immediate use of IPO proceeds for loan repayment
Insights
Legence successfully completed its IPO, raising $780.2M at $28/share to pay down debt and began trading on Nasdaq under LGN.
Legence Corp has successfully completed its initial public offering, raising substantial capital with strong market support. The company sold 26,000,000 shares of Class A common stock at $28.00 per share, with underwriters exercising their option to purchase an additional 3,487,627 shares. This brings the total capital raise to approximately $780.2 million in net proceeds after accounting for underwriting discounts and commissions.
The company’s trading debut on September 12th on the Nasdaq Global Select Market represents a significant milestone in Legence’s corporate development. The substantial underwriter lineup, featuring 21 financial institutions led by Goldman Sachs and Jefferies, demonstrates broad institutional support for this offering.
What’s particularly noteworthy is Legence’s stated intention for the proceeds – primarily debt reduction through partial repayment of their term loan credit facility, which will strengthen their balance sheet. This debt paydown strategy suggests management is focused on improving the company’s financial position rather than immediately pursuing aggressive expansion.
The partial exercise of the overallotment option (commonly known as the greenshoe) indicates reasonable but not overwhelming demand for the shares. The offering’s size and the company’s ability to secure this level of capital demonstrates significant institutional confidence in Legence’s business model and growth prospects.
09/15/2025 – 05:07 PM
SAN JOSE, Calif., Sept. 15, 2025 (GLOBE NEWSWIRE) — Legence Corp. (“Legence”) marked its debut on the Nasdaq Global Select Market (LGN) on September 12, 2025, following the successful closing of its initial public offering (IPO). The company offered 26,000,000 shares of its Class A common stock at a price of $28.00 per share. Driven by robust investor interest, the underwriters partially exercised their option, purchasing an additional 3,487,627 shares, signaling market confidence.
The IPO, spearheaded by Goldman Sachs and Jefferies, generated net proceeds of approximately $780.2 million after accounting for underwriting discounts and commissions. This capital infusion is strategically earmarked for debt reduction, with a portion allocated to repay outstanding borrowings under its term loan credit facility. A proactive move to shore up its balance sheet, Legence is also allocating a portion of the proceeds for general corporate purposes, positioning the company for future strategic initiatives.
Beyond Goldman Sachs & Co. LLC and Jefferies as joint lead book-running managers, the offering included a broad syndicate of financial institutions: 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.
Analysts note that Legence’s commitment to strengthening existing financials, reflected in strategic allocation of funds, rather than immediate expansion provides an opportunity for stable growth. Legence’s successful IPO and influx of institutional capital will enable it to focus on long-term value creation, navigating evolving market dynamics and setting the stage for sustained innovation.
About Legence
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.
Forward Looking Statements
Certain statements contained in this press release constitute “forward-looking statements”. 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, or similar terms and phrases are intended to identify forward-looking statements. These statements are not historical facts but rather are based on the company’s current expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, and they are subject to risks, uncertainties and other factors, many of which are outside of the company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including those described in the registration statement filed with the SEC. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the company 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 the company 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 final prospectus filed with the SEC in connection with the company’s initial public offering. You are cautioned not to place undue reliance on these forward looking statements.
FAQ
How much did Legence (LGN) raise in its IPO?
Legence raised approximately $780.2 million in net proceeds after deducting underwriting discounts and commissions through its IPO.
What was Legence’s (LGN) IPO price per share?
Legence’s IPO was priced at $28.00 per share for its Class A common stock.
When did Legence (LGN) start trading on the Nasdaq?
Legence began trading on the Nasdaq Global Select Market on September 12, 2025 under the ticker symbol ‘LGN’.
How many shares did Legence (LGN) sell in its IPO?
Legence sold 26,000,000 shares in the initial offering plus an additional 3,487,627 shares through the partial exercise of the underwriters’ option.
How will Legence (LGN) use its IPO proceeds?
Legence will use the net proceeds to repay a portion of outstanding borrowings under its term loan credit facility and for general corporate purposes.
