Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 42

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 42
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 Credit Facility will be approximately $500.0 million and that the facility will have a five-year term, springing to the date that is 91 days prior to the maturity of the New Senior Unsecured Debt (as defined below) or of the Existing Term Loans (as defined below) if the outstanding principal amount of either the New Senior Unsecured Debt or the Existing Term Loans on such date exceeds $50.0 million. We expect that the New Revolving Credit Facility will permit borrowings to be prepaid and repaid from time to time without premium or penalty and will contain mandatory prepayments, representations and warranties, affirmative and negative covenants and events of default customary for secured financings of this type. If we enter into the New Revolving Credit Facility, we expect that the effectiveness of the facility will be conditioned on the repayment and termination of the Existing Revolving Credit Facilities, OpCo’s issuance of senior unsecured debt in an aggregate principal amount of at least $750.0 million (the “New Senior Unsecured Debt”) and either the full repayment and termination of the Existing Term Loans or the application of 100% of the net proceeds of the New Senior Unsecured Debt to the amounts outstanding under the Existing Term Loans and the amendment of the Existing Term Loans to permit the New Revolving Credit Facility. There can be no assurance of our ability to market or syndicate such debt, and to the extent we are not successful in doing so, even if we enter into the New Revolving Credit Facility, the facility will not become effective and any amounts contemplated to be repaid under the Existing Term Loans will not be repaid.

Our negotiation of the New Revolving Credit Facility remains ongoing. We may not enter into the facility at all or do so on terms that are materially different than those described above. Please read “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Debt Instruments” for further discussion of our existing debt agreements.

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Our First Amended and Restated Limited Liability Company Agreement (the “Operating Agreement”) will provide for two classes of common shares, Class A shares and Class B shares, representing limited liability company interests in us. Only our Class A shares will have economic rights and entitle holders thereof to participate in any dividends our board of directors may declare. Each holder of a Class A share will be entitled to one vote on all matters to be voted on by our shareholders generally. We have been authorized to list our Class A