Banking Recap

Legence Corp. Prices Equity Offering for $378.1M

Legence Corp., a publicly traded industrials company trading under the ticker LGN, is conducting a secondary offering of its common equity. The transaction is classified as an equity capital markets offering and carries a disclosed value of approximately $378.1 million in U.S. dollars.

Dec 15, 2025·SEC EDGAR·pending regulatory·secondary offering

Deal value

The transaction information is sourced from an SEC filing published on the SEC EDGAR database on December 15, 2025. The specific form type is not identified in the available documentation. The deal currently holds a regulatory pending status, indicating that it has been filed with the SEC but has not yet received all necessary approvals or clearances to proceed.

The issuer has engaged a substantial underwriting syndicate for this secondary offering. The joint lead book-running managers are Goldman Sachs & Co. LLC and Morgan Stanley, both identified as lead advisors. Additional bookrunners include Jefferies, BofA Securities, Barclays, BMO Capital Markets, RBC Capital Markets, Santander, Cantor, BTIG, Wolfe | Nomura Alliance, Roth Capital Partners, Guggenheim Securities, SOCIETE GENERALE, Rothschild & Co, and MUFG. The co-managers in the syndicate are C.L. King & Associates, Drexel Hamilton, Stifel, Blackstone Capital Markets, Tigress Financial Partners, Independence Point Securities, Loop Capital Markets, and Penserra Securities LLC. Each of these financial advisors is serving the issuer in connection with the offering.

No legal advisors are identified in the available transaction documentation.

The offering structure is a secondary offering of equity with an aggregate value of $378,098,010. Beyond the disclosed offering size and the identification of the underwriting syndicate roles, no additional structural details regarding the offering have been disclosed. Specifically, no information is provided regarding the number of shares to be offered, the pricing mechanism, any lock-up provisions, or the allocation of shares among the underwriting group.

The following material terms and conditions remain undisclosed or unknown: the expected closing or settlement date for the offering, the specific pricing of the shares being offered, the number of shares that Legence or its shareholders plan to sell through the offering, and any use of proceeds or allocation of proceeds. The form type of the SEC filing is also not specified in the available information.