Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 170

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 170
---
BM Term Loan interest. Net Cash Used in Investing Activities. Net cash used in investing activities increased $35.3 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. The net increase was primarily attributable to higher capital expenditures, inclusive of changes in associated working capital items, of $36.5 million related to expansion of our infrastructure network partially offset by an increase in insurance proceeds received of $0.9 million during the six months ended June 30, 2025.

<div align='center'>114</div>

Net Cash Used in Financing Activities. Net cash used in financing activities decreased $5.0 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. Net cash used in financing activities for the six months ended June 30, 2025, primarily consisted of a distribution of $8.9 million to Elda River, a $2.7 million payment related to contingent consideration, and $0.8 million in deferred offering costs. This was partially offset by $1.7 million in debt proceeds, net of repayments associated with WBM Term Loan, insurance and equipment financing notes. Net cash used in financing activities for the six months ended June 30, 2024, primarily consisted of $15.0 million in repayments associated with the WBEF Preferred Units, $5.6 million in repayments related to insurance and equipment financing notes and a $0.9 million payment related to contingent consideration partially offset by $5.8 million in debt proceeds, net of repayments and issuance costs. WaterBridge NDB Operating LLC Net Cash Provided by Operating Activities. Net cash provided by operating activities increased $17.3 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. The increase was attributable to higher net income, net of non-cash items, of $16.8 million primarily related to higher gross margin due to increased volumes driven by East Stateline acquired assets and organic commercial growth during the six months ended June 30, 2025. Additionally, changes in working capital items, other than cash, resulted in an increase of $0.5 million. Net Cash Used in Investing Activities. Net cash used in investing activities decreased $138.6 million for the six months ended June 30, 2025 as compared to the six months ended June