Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 355

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 355
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 (1) Excludes $1.6 million of expenses paid as of June 30, 2025 |     |   |         |

(b) Represents the elimination of $5.1 million deferred offering costs associated with the Offering from Other assets and $3.5 million from Accrued liabilities, respectively, to reflect these costs being charged against the proceeds of this Offering. (c) Represents a $70.0 million paydown of the NDB Revolving Credit Facility, a $15.0 million paydown of the WBM Revolving Credit Facility, a $14.0 million paydown of the Desert Environmental Term Loan, and the write-off of debt issuance costs of $0.5 million within Prepaid expenses and other current assets and $0.4 million within Other assets. Subsequent to June 30, 2025, the Company made additional borrowings under its revolving credit facilities, including a $10.0 million draw on the NDB Revolving Credit Facility and a $10.0 million draw on the WBM Revolving Credit Facility. Prior to completion of this offering, the Company expects to borrow an additional $10.0 million under the NDB Revolving Credit Facility at substantially similar interest rates to its existing borrowings under the NDB Revolving Credit Facility. Such indebtedness has been or will be utilized in each case, primarily to fund working capital requirements. Such borrowings will be repaid with the proceeds of this offering. Please see “Use of Proceeds”. (d) Represents an adjustment to members’ equity reflecting (i) $570.0 million for Class A shares outstanding following this offering and application of the net proceeds therefrom calculated as the 32.4% controlling interest in OpCo’s pro forma, as adjusted, members’ equity as of June 30, 2025 (see note (e) below) and (ii) a decrease of $1,186.9 million in members’ equity to allocate a portion of WaterBridge Infrastructure LLC’s equity to the non-controlling interest (see Note (e) below). (e) Represents the non-controlling interest due to the consolidation of financial results of OpCo. As described in “Corporate Reorganization,” the Company will become the managing member of OpCo. The Company will initially have a minority economic interest in OpCo, but will have exclusive control over the management of OpCo. As a result, we will consolidate the financial results of OpCo and will report a non-controlling interest on our condensed