Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 33

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 33
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 has generally improved the creditworthiness of our customer base and increased demand for sophisticated, reliable water management providers like us.

Although we and members of our management team have been involved in multiple successful organic growth projects and acquisitions in the past, such successes may not be replicated in the future and our ability to grow our business through organic growth projects and acquisitions is subject to various risks as discussed in more detail under “Risk Factors.”

Financial Flexibility and Conservative Balance Sheet . Following the closing of this offering and the application of the net proceeds as set forth under “Use of Proceeds,” we expect to have outstanding indebtedness of $1,721.2 million, cash on hand of $170.6 million and $200.0 million of available capacity under our revolving credit facilities, for total available liquidity of $370.6 million. We intend to use the net proceeds from this offering to purchase a portion of the equity interests in OpCo held by an existing third party investor, Elda River Infrastructure WB LLC (“Elda River”), to repay a portion of our outstanding indebtedness and for general company purposes, including funding working capital and future growth projects. Following this offering, we expect our leverage to be approximately 3.8x based on LTM Consolidated EBITDA, as defined in our revolving credit facilities. We aim for our long-term leverage target to be lower than 3.0x on an LTM Consolidated EBITDA basis.

We believe that our internally generated cash flows, our borrowing capacity and our expected ability to access the debt and equity capital markets as a public company will provide us with the financial flexibility necessary to pursue organic growth and acquisition opportunities.

Our principal business objective is to deliver value to our shareholders by conducting efficient, reliable and safe operations with a focus on growing cash flows. We intend to achieve this objective by implementing the following strategies:

Utilize Our Competitive Strengths to Grow Cash Flows Under Long-Term, Fixed-Fee Contracts . We are focused on growing our cash flows under long-term, fixed-fee contracts with acreage dedications. Our development of a leading, integrated water infrastructure network enables us to provide competitive and comprehensive water management solutions to E&P companies in the Delaware Basin. We plan to continue to grow our business by entering into additional long-term, fixed-fee contracts under which we seek predictable cash flows by providing a variety of water management solutions to our customers in support of their increasing water management requirements. Because oil and natural gas development activity in the Delaware Basin is expected to remain at high levels,