Company: WBI
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001193125-25-278007
Chunk: 8

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 2
Chunk 8
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 A shares resulted in gross proceeds of $729.1 million to WaterBridge and net proceeds of $672.8 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The material terms of the IPO are described in the Prospectus. J.P. Morgan Securities LLC and Barclays Capital Inc. acted as lead book-running managers and representatives of the underwriters in the IPO.

WaterBridge used approximately $228.2 million of the net proceeds of the IPO to purchase certain OpCo Interests from Elda River, and contributed the remaining net proceeds of the IPO to OpCo in exchange for newly issued OpCo Units. OpCo used approximately $130.0 million of the net proceeds from the IPO to repay certain outstanding indebtedness of WaterBridge Operating, NDB Operating and Desert Environmental. On October 6, 2025, OpCo used an additional $303.9 million of the remaining net proceeds to repay all outstanding borrowings and accrued interest under the NDB Term Loan and SDB Term Loan. The remainder of the net proceeds was retained for general company purposes, including funding working capital and future growth projects.

There has been no material change in the planned use of proceeds from the IPO from that described in the Prospectus for the IPO.

(c)Issuer Purchases of Equity Securities. 

Neither we nor any affiliated purchaser repurchased any of our equity securities during the period covered by this Quarterly Report on Form 10‑Q.

Item 3. Defaults Upon Senior Securities

None.