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HOUSTON - WaterBridge Infrastructure LLC announced Monday that underwriters have fully exercised their option to purchase an additional 4,755,000 Class A shares in connection with the company’s recent initial public offering. The company’s stock currently trades near its 52-week low of $22.22, according to InvestingPro data.
The water infrastructure company received approximately $89 million in net proceeds from these additional shares, after deducting underwriting discounts, commissions, and offering expenses. This brings the total net proceeds from the upsized offering to approximately $677 million. While the company maintains strong liquidity with a current ratio of 1.41, InvestingPro analysis reveals it is not yet profitable, with additional metrics available to subscribers.
J.P. Morgan and Barclays served as lead book-running managers for the offering, with Goldman Sachs & Co. LLC, Morgan Stanley, Wells Fargo Securities, Piper Sandler, Raymond James, and Stifel acting as additional book-running managers.
Registration statements for the Class A shares became effective on September 16, 2025.
WaterBridge describes itself as a water infrastructure company with operations primarily in the Delaware Basin, with additional assets in the Eagle Ford and Arkoma Basins. The company generates annual revenue of $644.2M with an impressive 58.1% gross margin and $308.86M in EBITDA, according to InvestingPro data. According to the company’s press release statement, it operates produced water infrastructure that includes approximately 2,500 miles of pipelines and 197 produced water handling facilities, with a total handling capacity of more than 4.5 million barrels per day as of August 31, 2025.
The company provides water management solutions to oil and natural gas exploration and production companies under long-term contracts.
In other recent news, WaterBridge Infrastructure LLC successfully completed its upsized initial public offering, raising approximately $588 million in net proceeds. The company offered 31.7 million Class A shares at $20.00 per share, with underwriters exercising their option to purchase an additional 4.755 million shares. WaterBridge anticipates receiving an extra $89 million in net proceeds from the optional share purchase scheduled to close in September 2025. The shares began trading on the New York Stock Exchange and NYSE Texas, initially opening at $25 per share. This marked a 25% increase from the IPO price, although shares later settled around the $23 range. WaterBridge’s IPO pricing and subsequent trading debut reflect significant investor interest. These developments highlight the company’s strategic financial maneuvers and market presence.
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