Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 44

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 44
---
 vote or approval, except as otherwise required by applicable law or by our Operating Agreement. Please see “Description of Shares” and “Our Operating Agreement.”In connection with this offering, we expect to enter into a shareholders’ agreement with the Five Point Members and Devon Holdco (the “Shareholders’ Agreement”) pursuant to which 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      % of our outstanding common shares, as well as lesser director designation rights as long as they and their affiliates beneficially own less than    % but at least    % 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—Consent Rights.” |

26

| 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 in full the OpCo preferred equity interests held by the Legacy Preferred Holder 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 for additional OpCo Units