Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 260

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 260
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 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.

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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);

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 its operating agreement in the form of the Operating Agreement attached as an exhibit to the registration statement of which this prospectus forms a part to, among other things, designate WaterBridge as the managing member of OpCo, recapitalize the OpCo Interests into OpCo Units, and provide for the provision of OpCo Unit exchange rights for the benefit of the OpCo Unitholders other than WaterBridge; and

OpCo will use the remaining net proceeds from this offering as described in “Use of Proceeds.”

The transactions described above are collectively referred to in this prospectus as our “Corporate Reorganization.”

For additional information about the WaterBridge Combination and the Corporate Reorganization, including the related closing conditions, please see