Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 52

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 52
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’ agreement with the Five Point Members and Devon Holdco (the “Shareholders’ Agreement”) pursuant to which (a) the Five Point Members will have the collective right to designate more than a majority of the members of our board of directors as long as they and their affiliates beneficially own at least 40% of our outstanding common shares, as well as lesser director designation rights as long as they and their affiliates beneficially own less than 40% but at least 10% of our outstanding common shares and (b) Devon Holdco will have the right to designate one member to our board of directors as long as it and its affiliates beneficially own at least 10% of our outstanding common shares.As a result, our public shareholders will have no right to nominate a majority of the members of our board of directors, subject to certain terms and conditions. See “Certain Relationships and Related Party Transactions—Shareholders’ Agreement” and “Our Operating Agreement—Anti-Takeover Effects of Delaware Law and Our Operating Agreement—Other Provisions of Our Operating Agreement.” |

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| Use of proceeds |     | We expect to receive $         million of proceeds (or $        million if the underwriters’ option to purchase additional Class A shares is exercised in full) from this offering based upon the assumed public offering price of $      per Class A share (the midpoint of the price range set forth on the cover page of this prospectus), net of underwriting discounts and estimated offering expenses payable by us. See “Underwriting.”We intend to (i) use approximately $        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 newly issued OpCo Units at a per‑unit price equal to the per-share price paid by the underwriters for our Class A shares in this offering. OpCo intends to use the remaining net proceeds from this offering to repay approximately $               of the outstanding indebtedness of WaterBridge Operating LLC, a Delaware limited liability company (“WaterBridge Operating”), and its subsidiaries.If the underwriters exercise their option to purchase additional Class A shares in full, we expect to receive approximately $         million of additional net proceeds based upon the assumed public offering price of $       per Class A share (the midpoint of the price range set forth on the cover page of this prospectus). We intend to contribute all of the net proceeds from any exercise of such option to OpCo in exchange