Legacy Education Inc. Announces Pricing Of $10M Initial Public Offering Of 2.5M Shares Of Common Stock At A Price Of $4/Share

Legacy Education Inc. ("Legacy Education" or the "Company") (NYSE:LGCY), a for-profit post-secondary education company offering a wide range of education programs and services to help students achieve their professional goals, 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.