Company: WBI
Filing Date: 2025-08-22
Form Type: S-1
Source: 0000950170-25-111048
Chunk: 301

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-22
Form: S-1
Chunk 301
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 Class A shares held by our Existing Owners will be deemed “restricted securities” as such term is defined under Rule 144. The restricted securities were or will be issued and sold by us in private transactions and are eligible for public sale only if registered under the Securities Act or if they qualify for an exemption from registration under Rule 144 or Rule 701 under the Securities Act, which rules are summarized below.

In addition, subject to certain limitations and exceptions, each of the Five Point Members, Devon Holdco and Elda River will have the right, pursuant to the Redemption Right, to cause OpCo to acquire all or a portion of its respective OpCo Units for Class A shares (on a one‑for‑one basis with the cancellation of a corresponding number of Class B shares, subject to applicable conversion rate adjustments). Upon consummation of this offering, the Five Point Members, Devon Holdco and Elda River will hold an aggregate OpCo Units, all of which (together with the cancellation of a corresponding number of Class B shares) will be redeemable for an aggregate Class A shares. See “Certain Relationships and Related Party Transactions—OpCo LLC Agreement.” The Class A shares we issue upon such redemptions would be “restricted securities” as defined in Rule 144 described below. However, upon the closing of this offering, we intend to enter into a registration rights agreement with our Existing Owners that will require us to register these Class A shares under the Securities Act. See “Certain Relationships and Related Party Transactions—Registration Rights Agreement.”

As a result of the lock‑up agreements described below and the provisions of Rule 144 and Rule 701 under the Securities Act, our Class A shares (excluding the Class A shares to be sold in this offering) that will be available for sale in the public market are as follows:

no Class A shares will be eligible for sale on the date of this prospectus or prior to 180 days after the date of this prospectus; and

Class A shares will be eligible for sale upon the expiration of the lock‑up agreements, % of which are Class A shares that may be issued in exchange for OpCo Units (together with the cancellation of a corresponding number Class B shares), beginning 180 days after the date of this prospectus when permitted under Rule 144 or Rule 701.

Subject to certain exceptions and under certain conditions, we, certain of our Existing Owners and certain of their affiliates, and all of our executive officers and directors have agreed or will agree with the underwriters not