Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 271

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 271
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Introduction

WaterBridge Infrastructure LLC (the “Company”) was formed on April 11, 2025 pursuant to the transactions described under “Corporate Reorganization,” and does not have historical financial operating results. For purposes of this prospectus, the Company’s predecessors are both WaterBridge NDB Operating LLC (“NDB Operating”) and WaterBridge Equity Finance LLC (“WBEF”).

The following unaudited pro forma condensed combined financial statements reflect the historical combined results of NDB Operating and WBEF and their respective subsidiaries on a pro forma basis to give effect to the following transactions (collectively, the “Transactions”), which are described in further detail below, as if they had occurred on December 31, 2024, for purposes of the unaudited pro forma balance sheet, and on January 1, 2024, for purposes of the unaudited pro forma statement of operations:

the contemplated transactions described under “Corporate Reorganization” elsewhere in this prospectus;

the initial public offering of Class A shares representing limited liability company interests (“Class A shares”) and the use of the net proceeds therefrom as described in “Use of Proceeds” (the “Offering”). The Company does not expect to retain any of the net proceeds from the sale of the Class A shares (based on an assumed initial offering price of $ , the midpoint of the range set forth on the cover of this prospectus), because it expects to use the resulting gross proceeds of $ million, to pay (i) underwriting discounts of $ million and estimated other offering costs of $ million, (ii) repayment of outstanding debt of $ million, and (iii) distribution to preferred shareholders of $ million;

a provision for corporate income taxes at an effective rate of % for the year ended December 31, 2024, inclusive of all U.S. federal, state and local income taxes;

the WaterBridge Combination as described elsewhere in this prospectus; and

an increase in borrowings under the A&R Revolving Credit Facility and redemption of the NDB revolving credit facility.

The unaudited pro forma combined balance sheet of the Company is based on the historical consolidated balance sheets of NDB Operating and WBEF as of December 31, 2024 and includes pro forma adjustments to give effect to the described Transactions as if they had occurred on December 31, 2024.

The unaudited pro forma combined statement of operations of the Company is based on the audited historical consolidated statements of operations of NDB Operating and WBE