Elda River’s portfolio company WaterBridge Infrastructure has priced its upsized initial public offering of 31.7 million class A shares representing limited liability company interests in WaterBridge at $20 per class A share.
WaterBridge granted the underwriters a 30-day option to purchase up to an additional 4,755,000 class A shares at the public offering price.
WaterBridge expects to receive approximately $588 million net proceeds from the offering, or $677 million if the underwriters exercise their option to purchase additional class A shares in full, after deducting underwriting discounts and commissions and estimated expenses payable by WaterBridge.
Headquartered in Houston, WaterBridge is a first mover in the water midstream sector. WaterBridge is a 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 Ba
