Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 368

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 368
---
|------:|:--|
| Revolver                         |     |                         |      |   |     |   |       |   |
| Debt issuance costs amortization |     | $                       |  433 |   |     | $ |   625 |   |
| Commitment fees                  |     | $                       |  477 |   |     | $ |   370 |   |
| Interest expense                 |     | $                       |   96 |   |     | $ | 1,222 |   |
| Weighted average interest rate   |     |                         | 9.06 | % |     |   |  8.71 | % |

Deferred Redemption Payments On September 14, 2023, WB Holdings agreed to redeem the Holdings Preferred Units for aggregate consideration of $165.0 million as discussed in Note 10 – Mezzanine Equity . Pursuant to the Redemption Agreement, $15.0 million of the total consideration was to be delivered over the following three quarters in equal payment amounts of $5.0 million each (the “Deferred Redemption Payments”). These deferred cash payments represent consideration transferred for the extinguishment of preferred equity and thus were recognized at fair value on the Redemption Date. The issuance date fair value of the Deferred Redemption Payments was $14.5 million; thus the Company initially recognized an associated debt discount of $0.5 million. The Company presented the initial carrying value of the Deferred Redemption Payments as a current liability in the consolidated balance sheets in accordance with ASC 470 – Debt, as the payments were due within twelve months. Furthermore, the Company amortized the $0.5 million discount associated with the Deferred Redemption Payments over the term of the Deferred Redemption Payments using the effective interest method and recognized these amounts as interest expense in consolidated statements of operations. The Company recognized $0.3 million and $0.2 million of interest expense for the Deferred Redemption Payments during the years ended December 31, 2024, and 2023, respectively. The carrying value of the Deferred Redemption Payments as of December 31, 2023, was $14.7 million. The carrying value of the Deferred Redemption Payments as of December 31, 2024, was zero as the liability had been fully settled in June 2024. Insurance Note During 2024, the Company entered into promissory notes for the payment of insurance premiums with an aggregate principal amount of $10.4 million and an interest rate of 7.0% annually.