Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 381

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 381
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,589 |

7. Debt As of December 31, 2024 and 2023, our debt consisted of the following:

|                                   |     | December 31, |    2024 |   |     |   |    2023 |   |
|:----------------------------------|:----|:-------------|--------:|:--|:----|:--|--------:|:--|
| Term loan                         |     | $            | 573,562 |   |     | $ |       - |   |
| Revolver                          |     |              |  35,000 |   |     |   | 337,500 |   |
| Other                             |     |              |     812 |   |     |   |     637 |   |
| Total debt                        |     |              | 609,374 |   |     |   | 338,137 |   |
| Current portion of long-term debt |     |              |  (6,536 | ) |     |   |    (569 | ) |
| Unamortized debt issuance costs   |     |              | (16,421 | ) |     |   |       - |   |
| Total long-term debt              |     | $            | 586,417 |   |     | $ | 337,568 |   |

<div align='center'>F-34

WaterBridge NDB Operating LLC and Subsidiaries

Notes to the Consolidated Financial Statements</div>

Term Loan On May 10, 2024, the Company entered into a $575.0 million term loan facility (the “Term Loan”) with a maturity date of May 10, 2029. Proceeds from the Term Loan may be used (i) to pay transaction expenses associated with the closing of the Term Loan and Revolving Credit Facility (defined below), (ii) to fund all or a portion of the purchase price related to the May 10, 2024 acquisition, (iii) to fund capital expenditures, and (iv) for future working capital needs and general company purposes. The Term Loan is secured by a first-priority lien on substantially all assets of the Company and its subsidiaries. The Term Loan is also guaranteed by each of the Company’s subsidiaries. The Term Loan was further amended on December 18, 2024 to reduce the applicable margin on both Term SOFR Loans (defined below) and Base Rate Loans (defined below) by 0.50%.