Company: WBI
Filing Date: 2025-09-18
Form Type: 8-K
Source: 0001193125-25-207591
Chunk: 6

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 8-K
Item: Item 1.01
Chunk 6
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The foregoing description is qualified in its entirety by reference to the full text of the RRA, which is attached as Exhibit 4.1 to this Current Report on Form 8‑ K and incorporated in this Item 1.01 by reference.

Amended and Restated Limited Liability Company Agreement of OpCo

On September 18, 2025, in connection with the Offering, the Company, WBR Holdings, NDB Holdings, Desert Holdings, Devon Holdco and Elda River entered into the Amended and Restated Limited Liability Company Agreement of OpCo (the “ OpCo LLC Agreement”). The OpCo LLC Agreement included certain changes to reflect the conversion of the preexisting equity interests of OpCo into OpCo Units and to reflect certain matters related to the Offering. In addition, under the OpCo LLC Agreement, each holder of an OpCo Unit (other than the Company) will, subject to certain limitations, have a right (a “ Redemption Right”) to cause OpCo to acquire all or a portion of its OpCo Units (along with the cancellation of a corresponding number of Class B shares) for, at OpCo’s election, (i) Class A shares at a redemption ratio of one Class A share for each OpCo Unit redeemed, subject to applicable conversion rate adjustments, or (ii) cash in an amount equal to the Cash Election Amount (as defined in the OpCo LLC Agreement) of such Class A shares, subject to the Equity Offering Condition (as defined below). OpCo will determine whether to issue Class A shares or pay cash in an amount equal to the Cash Election Amount in lieu of the issuance of Class A shares based on facts in existence at the time of the decision, which are expected to include the relative value of the Class A shares (including the trading price for the Class A shares at the time), the cash purchase price, the availability of other sources of liquidity (such as an issuance of additional common shares) to acquire the OpCo Units and alternative uses for such cash. Alternatively, upon the exercise of the Redemption Right, the Company (instead of OpCo) will have the right (the “ Call Right”) to, for administrative convenience, acquire each tendered OpCo Unit directly from the redeeming holder for, at the Company’s election, (x) one Class A share, subject to applicable conversion rate adjustments, or (y) cash in an amount equal to the Cash Election Amount of such Class A shares, subject to the Equity Offering Condition. The Company may exercise the Call