1. WaterBridge closed the full exercise of underwriters' option for additional shares. 2. The company raised approximately $89 million from the additional share offering. 3. Total net proceeds from the IPO are about $677 million. 4. WaterBridge operates the largest produced water infrastructure network in the U.S. 5. The company benefits from long-term contracts with oil and gas companies.
While the additional funds enhance liquidity, they may dilute existing shares. Historical precedents show mixed effects when firms increase share offerings.
The liquidity boost is significant but may not lead to immediate value creation. Investors might prioritize performance over corporate actions.
The immediate effect of increased liquidity will influence stock price in the coming months. Past similar events indicate that initial investor reactions may stabilize in the following quarters.
WaterBridge Infrastructure LLC ("WaterBridge") today announced the successful closing of the full exercise of the underwriters' option to purchase additional shares in connection with its recently completed initial public offering. As previously announced, the underwriters exercised in full their option to purchase an additional 4,755,000 Class A shares ("Option Shares") at the public offering price, less underwriting discounts and commissions.
WaterBridge received net proceeds of approximately $89 million from the Option Shares, after deducting underwriting discounts and commissions and offering expenses, bringing the total net proceeds of the upsized offering to approximately $677 million.
J.P. Morgan and Barclays acted as lead book-running managers for the offering. Additional book-running managers for the offering were Goldman Sachs & Co. LLC, Morgan Stanley, Wells Fargo Securities, Piper Sandler, Raymond James and Stifel. Texas Capital Securities, Pickering Energy Partners, Janney Montgomery Scott, Johnson Rice & Company and Roberts & Ryan acted as co-managers for the offering.
Registration statements relating to the Class A shares offered in the initial public offering have been filed and became effective on September 16, 2025 (the "Registration Statements"). The offering of these securities was made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended. Copies of the prospectus related to these securities can be obtained from any of the following sources:
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com
Barclays Capital Inc.
Attention: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (888) 603-5847
Email: barclaysprospectus@broadridge.com
About WaterBridge
WaterBridge is a leading integrated, pure-play water infrastructure company with operations predominantly in the Delaware Basin, the most prolific oil and natural gas basin in North America, with additional assets in the Eagle Ford and Arkoma Basins. WaterBridge operates the largest produced water infrastructure network in the United States, through which it provides water management solutions to oil and natural gas exploration and production companies under long-term contracts, which include gathering, transporting, recycling and handling produced water. As of August 31, 2025, WaterBridge's infrastructure network included approximately 2,500 miles of pipelines and 197 produced water handling facilities, which handled over 2.6 million bpd of produced water for our customers and had more than 4.5 million bpd of total produced water handling capacity. Headquartered in Houston, Texas, WaterBridge is a first mover in the water midstream sector and benefits from an experienced and entrepreneurial management team.
Important Information
The Registration Statements may be obtained free of charge at the SEC's website at www.sec.gov under "WaterBridge Infrastructure LLC". This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250922222361/en/
Scott McNeely
Chief Financial Officer
WaterBridge
Contact@h2obridge.com
Mae Herrington
Director, Investor Relations
WaterBridge
ir@h2obridge.com
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