Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 39

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 39
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 WaterBridge intends to elect to be classified as a corporation for U.S. federal income tax purposes in connection with the WaterBridge Combination as described under “—WaterBridge Combination” above. WaterBridge has not conducted and will not conduct any material business operations prior to the completion of the Corporate Reorganization, other than certain activities related to, and undertaken in contemplation of, this offering, including the transactions described under “—WaterBridge Combination” above. Immediately following the consummation of the WaterBridge Combination, OpCo will directly or indirectly own all of the outstanding equity interests of the subsidiaries through which we will operate our business.

Following the Corporate Reorganization, WaterBridge will be a holding company, the sole material asset of which will consist of limited liability company interests in OpCo, which will directly or indirectly own all of the outstanding equity interests of the subsidiaries through which WaterBridge will operate its business, and WaterBridge will be the sole managing member of OpCo, responsible for all operational, management and administrative decisions relating to OpCo’s business, and will consolidate financial results of OpCo and its subsidiaries.

In connection with the completion of this offering, the following transactions will occur in the following order:

WBR Holdings and GIC will cause WaterBridge to amend and restate its operating agreement to facilitate this offering;

WaterBridge will issue 27,000,000 Class A shares in this offering to the public, in exchange for the proceeds of this offering, at a price of $18.50 per Class A share (the midpoint of the price range set forth on the cover page of this prospectus);

WBR Holdings, NDB Holdings, Desert Holdings (together, the “Five Point Members”), Devon Holdco and Elda River will contribute approximately $80,200 in cash to WaterBridge in exchange for the issuance of an aggregate 80,215,021 Class B shares to the Five Point Members, Devon Holdco and Elda River, or one Class B share for each OpCo Unit to be owned by each such entity following the closing of this offering;

WaterBridge will (i) use approximately $228.2 million of the net proceeds from this offering to purchase a portion of the OpCo Interests held by Elda River and (ii) contribute all of the remaining net proceeds from this offering to OpCo in exchange for a number of OpCo Units equal to the number of Class A shares issued in this offering;

the Existing Owners (other than GIC) and WaterBridge will cause OpCo to amend and restate