Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 279

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 279
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 out-of-pocket costs and expenses incurred by the parties in connection with the Contribution and Reorganization Agreement, and solely with respect to non-Five Point Members, subject to certain maximum amounts. OpCo will also obtain, or cause its subsidiaries to obtain, at its or their sole cost and expense, a directors and officers’ insurance policy covering the directors, officers, managers and other applicable individuals who served as a “Covered Person” with respect to each of the entities contributed to OpCo in the WaterBridge Combination.

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Prior to the completion of this offering, we expect to enter into the Shareholders’ Agreement with the Five Point Members and Devon Holdco. As discussed further below, the Shareholders’ Agreement will provide certain rights to the Five Point Members and Devon Holdco.

Under our Shareholders’ Agreement, each of the Five Point Members and Devon Holdco will agree with us that such shareholder will take all necessary action (including voting or causing to be voted all of our common shares beneficially owned by each such shareholder) so that no amendment is made to our Operating Agreement in effect as of the date of the Shareholders’ Agreement that would (a) add restrictions to the transferability of our shares by any such shareholder that are beyond those provided for in our Operating Agreement, the Shareholders’ Agreement or applicable securities laws or (b) nullify any of the rights of any Shareholder, which are rights are explicitly provided for the in the Shareholders’ Agreement, unless, in each such case, such amendment is approved by the Five Point Members. To the extent such amendment would adversely and disproportionately affect the rights of Devon Holdco with respect to any of our securities owned by Devon Holdco or its affiliates under the Shareholders’ Agreement compared to the Five Point Members, then such amendment shall also require the approval of Devon Holdco.

The Shareholders’ Agreement will provide that, subject to compliance with applicable law and stock exchange rules, (a) for so long as the Five Point Members and certain affiliates beneficially own at least 40% of our outstanding common shares, the Five Point Members shall be entitled to designate a number of directors equal to a majority of the board of directors, plus one director; (b) for so long as the Five Point Members and such affiliates beneficially own at least 30%, 20% and 10% of our outstanding common shares, the Five Point Members shall be entitled to designate at least three directors, two directors and one director, respectively; and (