Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 256

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 256
---
 equity interests in NDB Midstream;

Desert Holdings will contribute all of its equity interests in Desert Environmental to OpCo in exchange for the issuance to Desert Holdings of newly issued OpCo Interests. Immediately following the Desert Contribution, OpCo will be admitted as the sole member of Desert Environmental and will directly own all of the equity interests in Desert Environmental; and

immediately following the issuances by OpCo of the OpCo Interests described above, (A) OpCo will directly own all of the outstanding equity interests in the Contributed Entities and (B) our Existing Owners will, either directly or through their respective equity interests in WB 892, own 100% of the outstanding OpCo Interests; and

at least one day before the closing of this offering, WaterBridge will elect to be classified as a corporation for U.S. federal income tax purposes, and immediately thereafter, WBR Holdings and GIC will cause WB 892 to merge with and into WaterBridge, with WaterBridge surviving, in exchange for the issuance of newly issued limited liability company interests in WaterBridge to WBR Holdings and GIC, and immediately following the merger, the equity interests in WaterBridge held by NDB Holdings shall be cancelled.

Following the Corporate Reorganization, WaterBridge will be a holding company, the sole material asset of which will consist of limited liability company interests in OpCo, which will directly or indirectly own all of the outstanding equity interests of the subsidiaries through which WaterBridge will operate its business, and WaterBridge will be the sole managing member of OpCo, responsible for all operational, management and administrative decisions relating to OpCo’s business, and will consolidate financial results of OpCo and its subsidiaries.

<div align='center'>174</div>

In connection with the completion of this offering, the following transactions will occur in the following order:

WBR Holdings and GIC will cause WaterBridge to amend and restate its operating agreement to facilitate this offering;

WaterBridge will issue Class A shares in this offering to the public, in exchange for the proceeds of this offering, at a price of $ per Class A share (the midpoint of the price range set forth on the cover page of this prospectus);

the Five Point Members, Devon Holdco and Elda River will contribute an amount in cash equal to $ to WaterBridge in exchange for the issuance of an aggregate Class B shares to the Five Point Members, Devon Holdco and Elda River, or one Class B share for each OpCo Unit to be owned by each such entity following