Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 261

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 261
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 “Certain Relationships and Related Party Transactions—Contribution and Corporate Reorganization Agreement.”

To the extent the underwriters’ option to purchase additional Class A shares is exercised in full or in part, WaterBridge will contribute the net proceeds therefrom to OpCo in exchange for an additional number of OpCo Units equal to the number of Class A shares issued pursuant to the underwriters’ option. OpCo intends to use such proceeds as described in “Use of Proceeds.”

After giving effect to the Corporate Reorganization and this offering and assuming the underwriters’ option to purchase additional Class A shares is not exercised:

investors in this offering will own 27,000,000 of our Class A shares, representing 23.7% of our common shares;

the Five Point Members will collectively own 3,399,274 of our Class A shares and 58,468,597 of our Class B shares, representing 54.3% of our common shares, and an approximate 51.3% interest in OpCo;

Devon Holdco will own 17,692,370 of our Class B shares, representing 15.5% of our common shares, and an approximate 15.5% interest in OpCo;

Elda River will own 4,054,054 of our Class B shares, representing 3.6% of our common shares, and an approximate 3.6% interest in OpCo;

GIC will own 3,385,705 of our Class A shares, representing 3.0% of our common shares; and

WaterBridge will own an approximate 29.6% interest in OpCo and will serve as the managing member of OpCo.

Our organizational structure following the offering and the Corporate Reorganization is commonly referred to as an Up-C structure. Pursuant to this structure, following this offering we will hold a number of OpCo Units equal to the number of our issued and outstanding Class A shares, and OpCo Unitholders (other than us) will hold a number of OpCo Units equal to the number of our issued and outstanding Class B shares. The Up-C structure was selected in order to (i) provide our Existing Owners with an option to continue to hold their economic ownership interests in our business in “pass-through” form for U.S. federal income tax purposes through their ownership of OpCo Units and (ii) potentially allow our Existing Owners and us to benefit from certain net cash tax savings that we might realize in the future, as more fully described in the