Company: WBI
Filing Date: 2025-06-02
Form Type: DRS/A
Source: 0000950123-25-005943
Chunk: 32

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-06-02
Form: DRS/A
Chunk 32
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 until being transferred to OpCo in exchange for OpCo preferred equity interests that will be purchased in full in connection with this offering as described below.

Following the Corporate Reorganization, WaterBridge will be a holding company, the sole material asset of which will consist of limited liability company interests in OpCo, which will directly or indirectly own all of the outstanding equity interests of the subsidiaries through which WaterBridge will operate its business, and WaterBridge will be the sole managing member of OpCo, will be responsible for all operational, management and administrative decisions relating to OpCo’s business and will consolidate financial results of OpCo and its subsidiaries.

In connection with the completion of this offering, the following transactions will occur in the following order:

NDB Holdings will cause WaterBridge to amend and restate its operating agreement to facilitate this offering;

the Legacy Preferred Holder and OpCo will cause WBEF to merge with and into OpCo, with OpCo surviving, in exchange for the issuance of certain preferred equity interests in OpCo to the Legacy Preferred Holder;

WaterBridge will elect to be classified as a corporation for U.S. federal income tax purposes, and immediately thereafter, WBR Aggregator and GIC will cause WB 892 to merge with and into WaterBridge, with WaterBridge surviving, in exchange for the issuance of an aggregate Class A shares to WBR Aggregator and GIC;

WaterBridge will issue Class A shares in this offering to the public, in exchange for the proceeds of this offering, at a price of $ per Class A share (the midpoint of the price range set forth on the cover page of this prospectus);

WBR Aggregator, NDB Holdings and Devon Holdco will contribute an amount in cash equal to $ to WaterBridge in exchange for the issuance of an aggregate Class B shares to WBR Aggregator, NDB Holdings and Devon Holdco, or one Class B share for each OpCo Unit to be owned by each such entity following the closing of this offering;

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WaterBridge will (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 (ii) cause such OpCo preferred equity interests to be converted into OpCo Units and (iii) contribute all of the remaining net proceeds from this offering to OpCo in exchange for a number of OpCo Units equal to the number of Class A shares issued in this offering;

the Existing Owners and WaterBridge will cause OpCo to amend and restate