Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 52

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 52
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 projects. After the application of the net proceeds from this offering, we will own approximately 32.4% of the outstanding OpCo Units (or approximately 35.0% of the outstanding OpCo Units if the underwriters’ option to purchase additional Class A shares is exercised in full).Please see “Use of Proceeds” for a more complete description of the intended use of proceeds from this offering. |
| Conflicts of interest |     | A portion of the net proceeds from this offering will be used to repay outstanding borrowings under our WBM Revolving Credit Facility and NDB Revolving Credit Facility (each as defined below). Because an affiliate of Wells Fargo Securities, LLC is a lender under our WBM Revolving Credit Facility and NDB Revolving Credit Facility and may receive at least 5% of the net proceeds from this offering, Wells Fargo Securities, LLC may be deemed to have a “conflict of interest” within the meaning of Rule 5121 of the Financial Industry Regulatory Authority, Inc. (“FINRA”). Therefore, this offering is being made in compliance with the requirements of FINRA Rule 5121, which requires, among other things, that a “qualified independent underwriter” participate in the preparation of, and exercise the usual standards of “due diligence” with respect to, the registration statement and this prospectus. J.P. Morgan Securities LLC has agreed to act as a qualified independent underwriter for this offering and to undertake the legal responsibilities and liabilities of an underwriter under the Securities Act, specifically including those inherent in Section 11 thereof. J.P. Morgan Securities LLC will not receive any additional fees for serving as a qualified independent underwriter in connection with this offering. We have agreed to indemnify J.P. Morgan Securities LLC against liabilities incurred in connection with acting as a qualified independent underwriter, including liabilities under the Securities Act. Wells Fargo Securities, LLC will not confirm any sales of Class A shares to any account over which it exercises discretionary authority without the specific written approval of the account holder. For more information, see “Underwriting (Conflicts of Interest).”                                                                                                                                                                                                                                                                                      |
| Dividend policy       |     | Depending on factors deemed relevant by our board of directors, following the completion of this offering, our board of directors may elect to declare cash dividends on our Class A shares from time to time, subject to our compliance with applicable law, and depending on, among other things,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

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