Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 182

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 182
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.15%. We are currently in compliance with all covenants under the NDB Revolving Credit Facility.

In connection with the WaterBridge Combination, we expect that the NDB Revolving Credit Facility will be assumed by WaterBridge Midstream pursuant to the NDB Assumption and remain outstanding.

In connection with the WaterBridge Combination and the NDB Assumption, certain of the existing collateral documents securing the NDB Term Loan, the WBM Term Loan, the NDB Revolving Credit Facility and the WBM Revolving Credit Facility will be amended, amended and restated, supplemented, or otherwise modified to provide for (i) the Parent Guarantee from the Company, OpCo and WBO of the obligations under the WBM Revolving Credit Facility, (ii) for collateral securing obligations under the NDB Term Loan and the NDB Revolving Credit Facility to also secure the obligations under the WBM Term Loan and the WBM Revolving Credit Facility, (iii) collateral securing obligations under the WBM Term Loan and the WBM Revolving Credit Facility to also secure obligations under the NDB Term Loan and the NDB Revolving Credit Facility and (iv) the grant of security interests by certain subsidiaries of Desert Environmental to secure the obligations under each Credit Facility, following which, the NDB Revolving Credit Facility will be secured by a first-priority lien on substantially all of our assets.

In addition, in connection with the NDB Assumption and the Collateral Amendments, we will amend the WBM Revolving Credit Facility to, among other things, permit the NDB Assumption and the Collateral Amemdments.

We anticipate all outstanding borrowings under the NDB Revolving Credit Facility will be repaid with a portion of the net proceeds from the offering, as described in “Use of Proceeds” elsewhere in this prospectus.

Desert Environmental Credit Facility

On October 3, 2023, Desert Environmental entered into a credit agreement (as amended or otherwise modified prior to the date of this prospectus, the “Desert Credit Facility”) providing for a (i) $10.0 million delayed draw term loan (the “Desert Initial Term Loan”) and (ii) $2.0 million revolving credit facility (the “Desert Revolving Commitments”). On March 1, 2024, Desert Environmental entered into the First Amendment to Credit Agreement to provide for an adjusted loan repayment schedule. On February 4, 2025, Desert Environmental entered into the Second Amendment to Credit Agreement to (i)