Legacy Education Inc. filed a Form S-1 registration statement for an initial public offering on 2024-08-16. It has amended it 3 times. It filed its final prospectus on 2024-09-27, at a public offering price of $4.00 per share. Each fact below is quoted from the filing named with it.
What the filings say
Listing
We have been approved to list our common stock on the NYSE American under the symbol “LGCY.” Upon completion of this offering, our executive officers, directors, and stockholders holding more than 5% of our outstanding common stock and their affiliates will, in the aggregate, beneficially own approximately 39.18% of our outstanding common stock (or 38.01% if the underwriters’ over-allotment option is exercised in full).From the 424B4 filed 2024-09-27
Shares offered
This is the initial public offering of 2,500,000 shares of Legacy Education Inc. common stock.From the 424B4 filed 2024-09-27
Offering price
The initial public offering price is $4.00 per share.From the 424B4 filed 2024-09-27
Use of proceeds
We intend to use the net proceeds from this offering for investments at our facilities, the development of new programs and for working capital and general corporate purposes.From the 424B4 filed 2024-09-27
Revenue
We may take advantage of these provisions until the earlier of (i) the last day of our fiscal year following the fifth anniversary of the closing of this offering (ii) the last day of the fiscal year (a) in which we have total annual gross revenue of at least $1.07 billion or (b) in which we are deemed to be a large accelerated filer, which means the market value of our equity securities that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter, and (iii) the date on which we have issued more than $1.0 billion of non-convertible debt in any three-year period.From the S-1/A filed 2024-09-20
Net loss or income
We had net income of approximately $2.7 million in fiscal 2023 compared to approximately $2.3 million in fiscal 2022, an increase of approximately $0.3 million, due items mentioned above.From the S-1/A filed 2024-09-20
Timeline
| Filed | What it is | Filing |
|---|---|---|
| 2024-08-16 | Registration statement filed | S-1 |
| 2024-09-11 | Registration statement amended | S-1/A |
| 2024-09-16 | Registration statement amended | S-1/A |
| 2024-09-20 | Registration statement amended | S-1/A |
| 2024-09-27 | Final prospectus filed: the offering is priced | 424B4 |
Tools for this story
Each opens in a new tab, filled in for Legacy Education Inc.. With no account yet, you sign up free and land on the result.
Where this comes from
A company that wants to sell shares to the public in the United States files a registration statement with the SEC: Form S-1 for a US company, Form F-1 for a foreign one. It amends that statement as the figures and terms are filled in, usually adding the expected price range shortly before the offering. Once the offering is priced it files its final prospectus under Rule 424(b)(4). A company that decides not to go ahead can ask for the registration statement to be withdrawn on Form RW.
Every row on this page is one of those filings, linked to the filing itself. The facts are the company's own sentences, quoted from the filing named beside each one and never reworded; where no filing states a fact in a sentence that can be read exactly, this page leaves it out. A filing is the company's statement of its plans and its figures, not a verification of them, and nothing here is investment advice.