Legacy Education (LGCY) Prices 2.5M Share IPO at $4/sh

Legacy Education Inc. (NYSE American: LGCY) today announced the pricing of its initial public offering (the “Offering”) of 2,500,000 shares of common stock at a price to the public of $4.00 per share, for gross proceeds of $10 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock from the Company to cover any over-allotments at the public offering price, less the underwriting discount.

The Company intends to use the net proceeds of the Offering for investments at our facilities, for the development of new programs, and for other general working capital purposes.

The shares of common stock are expected to begin trading on the NYSE American on September 26, 2024, under the symbol “LGCY.” The Offering is expected to close on September 27, 2024, subject to the satisfaction of customary closing conditions.

Northland Securities, Inc. is acting as sole book-running manager for the Offering. Ladenburg Thalmann is acting as lead manager for the Offering.

The Registration Statement on Form S-1 (File No. 333-281586) relating to the securities being sold in the Offering was filed with the Securities and Exchange Commission (“SEC”) and declared effective on September 25, 2024. The Offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from Northland Securities, Inc., 150 South Fifth Street, Suite 3300, Minneapolis, MN and from Ladenburg Thalmann at Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, NY 10019. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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