Legence prices IPO at $28 per share, expects to raise $688 million

Legence Corp. priced its initial public offering at $28 per share for 26 million shares of Class A common stock, the San Jose-based company announced. The offering is expected to raise approximately $688 million in net proceeds after underwriting discounts and commissions.

The company's stock is scheduled to begin trading on the Nasdaq Global Select Market under the ticker symbol "LGN" on September 12, 2025. The offering is expected to close on September 15, 2025, subject to customary closing conditions.

Underwriters received a 30-day option to purchase up to an additional 3.9 million shares at the IPO price, less underwriting discounts and commissions. Goldman Sachs and Jefferies are serving as joint lead book-running managers for the offering.

Legence plans to use the net proceeds to repay a portion of outstanding borrowings under its term loan credit facility and for general corporate purposes, according to the company's statement.

The company provides engineering, consulting, installation, and maintenance services for mission-critical systems in buildings. Legence specializes in designing and installing HVAC, process piping, and mechanical, electrical and plumbing systems. The company states that over 60% of the Nasdaq-100 Index companies are among its clients.

A registration statement on Form S-1 relating to the securities has been filed with and declared effective by the Securities and Exchange Commission.

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