Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 136

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 136
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 after this offering) to new investors purchasing Class A shares in this offering of $13.81 per Class A share. The following table illustrates the per Class A share dilution to new investors purchasing Class A shares in this offering (assuming that 100% of our Class B shares have been cancelled in connection with a redemption of OpCo Units for Class A shares on a one‑for‑one basis):

| Public offering price per Class A share                                                                                                                          
 As adjusted net tangible book value per Class A share as of June 30, 2025 (after giving pro forma effect to the WaterBridge Combination as described above)      |     | 4.39 |     |   | 18.50 |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|-----:|:----|:--|------:|
| Increase per Class A share attributable to this offering and related transactions as described above                                                             |     | 0.30 |     |   |       |
| Pro forma, as adjusted, net tangible book value per Class A share (after giving further effect to this offering and the related transactions as described above) |     |      |     |   |  4.69 |
| Dilution in pro forma, as adjusted, net tangible book value per Class A share to new investors in this offering                                                  |     |      |     | $ | 13.81 |

The dilution information discussed in this section is illustrative only and will change based on the actual public offering price and other terms of this offering to be determined at pricing. Each $1.00 increase or decrease in the public offering price of $18.50 per Class A share (the midpoint of the price range set forth on the cover of this prospectus) would increase or decrease the net proceeds to us from this offering by approximately $25.4 million (or approximately $29.2 million if the underwriters’ option to purchase additional Class A share is exercised in full), assuming the number of Class A shares offered by us, as set forth on the cover page of this prospectus, remains the same, after deducting estimated underwriting discounts and estimated offering expenses payable by us. The following table summarizes, on an as adjusted basis as of September 4, 2025, the total number of Class A shares that we will issue and the total consideration contributed to us (a) by our Existing Owners in connection with the Corporate Reorganization transactions, other than this offering, in respect of their Class A shares (assuming that 100%