WaterBridge Infrastructure LLC

WaterBridge Infrastructure LLC (WBI) priced its initial public offering on Sep 18, 2025 at $20.00 per share, within its $17.00–$20.00 range, raising $634M, and listed on NYSE. At the IPO price its market capitalization was about $2.37B. J.P. Morgan was lead-left underwriter, joined by Barclays, Goldman Sachs and Morgan Stanley and others. Gibson Dunn advised the underwriters.

WaterBridge Infrastructure LLC provides water management infrastructure and services to oil and gas exploration and production companies. It operates a large-scale network and a proprietary forecasting software platform, WAVE, to support flow assurance for customers.

Status

IPO

Ticker

WBI

Exchange

NYSE

Priced

Sep 18, 2025

IPO price

$20.00

Price range

$17.00–$20.00

Raised

$634M

Market cap at IPO price

$2.37B

First filed

Aug 22, 2025

Underwriters

J.P. Morgan, Barclays, Goldman Sachs, Morgan Stanley, Wells Fargo, Piper Sandler, Raymond James, Stifel, Pickering Energy Partners and Montgomery Scott Johnson Rice & Company

Underwriters' counsel

Gibson Dunn

Sector

Energy, mining & utilities

Country / state

TX

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.