Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 341

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 341
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DB Midstream LLC (“NDB Midstream”) as the accounting acquirer, using the fair value concepts defined in ASC Topic 820, Fair Value Measurement. NDB Midstream indirectly owns 100% of NDB Operating and is solely a holding company with no material operations, assets or liabilities, with its only material asset being its indirect ownership in NDB Operating. Accordingly, the unaudited pro forma condensed combined financial information is based on the historical consolidated financial statements of NDB Operating, the historical consolidated financial statements of WBEF, and the historical consolidated financial statements of Desert Environmental.

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 that 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 combination of NDB Operating, WBEF and Desert Environmental in the WaterBridge Combination as business combinations in accordance with ASC 805, as the transactions meet 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 sellers. 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 OpCo, a Delaware limited liability company formed in connection with the WaterBridge Combination. The consideration transferred to the current equity owners of WBEF will consist of % of OpCo Units representing fair value of $ .

Also as part of the WaterBridge Combination, 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 of % 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 acquisitions. The final determination of the purchase price allocation