Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 274

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 274
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 (“ASC”) Topic 805, Business Combinations, with NDB Operating as the accounting acquirer, using the fair value concepts defined in ASC Topic 820, Fair Value Measurement, and are based on the historical condensed consolidated financial statements of NDB Operating and the historical condensed consolidated financial statements of WBEF.

The transaction accounting adjustments represent Company management’s best estimates and are based upon currently available information and certain assumptions that we believe are reasonable under the circumstances.

Our management has not identified any reclassification adjustments given all currently available information related to the WaterBridge Combination, which would be necessary to conform the presentation of its financial statements or accounting policies to those of the Company.

Note 2: Purchase Price

We will account for the WaterBridge Combination as a business combination in accordance with ASC 805, as the transaction meets the definition of a business under generally accepted accounting principles in the United States of America (“U.S. GAAP”). The identifiable assets acquired and liabilities assumed will be recognized at their acquisition-date fair values. The total consideration transferred will be measured as the fair value of the consideration exchanged with the seller. The purchase price will be allocated to the identifiable assets acquired and liabilities assumed based on their relative fair values in accordance with ASC 805-20. Any excess of the consideration transferred over the fair value of the identifiable net assets acquired will be recognized as goodwill.

As part of the WaterBridge Combination, all equity interests in NDB Operating and WBEF will be directly or indirectly contributed to a new Delaware limited liability company formed in connection with the WaterBridge Combination (“OpCo”). The consideration transferred to the current equity owners of WBEF will consist of % of OpCo Units representing fair value of $ .

The determination of fair value used in the transaction adjustments presented herein are preliminary and based on management estimates of the fair value of the consideration transferred and the assets and liabilities acquired and have been prepared to illustrate the estimated effect of the acquisition. The final determination of the purchase price allocation will depend on a number of factors that cannot be predicted with certainty at this time. Therefore, the actual purchase price allocation of the WaterBridge Combination may differ from the transaction accounting adjustments presented in these unaudited condensed combined pro forma statements. The Company has engaged a third-party valuation specialist to assist in the final determination of the purchase price allocation.

Note 3: Pro Forma Adjustments

The unaudited pro forma combined financial information has been prepared to reflect the application of required U.S. GAAP accounting to the Transactions and has been prepared for informational purposes only