WaterBridge Infrastructure LLC SEC Filings

FMR LLC filed a Schedule 13G reporting beneficial ownership of 3,693,839 shares of WaterBridge Infrastructure LLC Class A common stock, representing 8.5% of the class as of 09/30/2025.

FMR LLC reports sole voting power: 3,693,839 and sole dispositive power: 3,693,839 shares, with no shared voting or dispositive power. Abigail P. Johnson is also a reporting person, showing sole dispositive power: 3,693,839 and no voting power.

The filing notes that one or more other persons have rights to dividends or sale proceeds, but no single such interest exceeds five percent of the class. The certification states the securities were acquired and are held in the ordinary course of business and not to change or influence control.

WaterBridge Infrastructure LLC reported one-time cash bonuses tied to the successful consummation of its initial public offering of Class A shares. The board approved these transaction bonuses on October 7, 2025 to recognize employee efforts, including certain named executive officers.

• Chief Executive Officer Jason Long: $590,000 (paid October 10, 2025)
• President and Chief Operating Officer Michael Reitz: $535,000
• Executive Vice President, Chief Financial Officer Scott McNeely: $470,000
• Executive Vice President, General Counsel Harrison Bolling: $430,000

These awards are described as one-time bonuses connected to the IPO completion.

Horizon Kinetics Asset Management LLC filed a Schedule 13G reporting beneficial ownership of 6,358,340 Class A shares of WaterBridge Infrastructure LLC, representing 14.7% of the class as of 09/17/2025.

The filer reports sole voting power over 6,358,340 shares and sole dispositive power over 6,358,340 shares, with no shared voting or dispositive power. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

WaterBridge Infrastructure LLC completed a private placement of senior unsecured notes through its subsidiary WBI Operating LLC. The Issuer sold $825 million of 6.250% Senior Notes due 2030 and $600 million of 6.500% Senior Notes due 2033, upsized from an initial $1,400,000,000 aggregate offering.

The company stated that net proceeds, together with cash on hand, will be used to repay all outstanding borrowings under legacy term loan facilities and for general corporate purposes and working capital. As of September 29, 2025, legacy term loan borrowings totaled $1.712 billion.

The notes are guaranteed on a senior unsecured basis by all existing subsidiaries and include customary covenants and events of default. Optional redemption features include equity claw provisions (up to 40% before specific dates) and make-whole/redemption premiums as outlined in the indentures. Upon a qualifying Change of Control combined with a downgrade by two rating agencies, holders may be offered repurchase at 101% of principal plus accrued interest.

WaterBridge Infrastructure (WBI) Form 4: On 10/01/2025, a director reported an award of 6,500 Class A share RSUs at a price of $0. Following the grant, direct beneficial ownership was 206,500 Class A Shares.

The filing also notes 100,000 Class A Shares held indirectly by a spouse. The RSUs vest on the first anniversary of the grant date.

WaterBridge Infrastructure LLC reported an insider equity award. A director acquired 6,500 Class A shares via restricted stock units on 10/01/2025 at $0 (Transaction Code A). Following the grant, the director’s direct beneficial ownership stands at 81,500 Class A shares.

The filing notes these RSUs represent the right to receive one Class A share per unit and will vest on the first anniversary of the grant date.