secwatch.observer — SEC 8-K summary
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Issuer:     Cactus, Inc. (WHD)
CIK:        0001699136
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001104659-23-027188
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cactus completes $621M acquisition of FlexSteel; funds with debt and equity
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- Purchase price $621M (debt-free, cash-free) plus up to $75M earn-out based on FlexSteel revenue growth targets.
- Funded via $165.6M public offering, $125M term loan, $30M revolver draw, and cash on hand.
- Amended ABL credit facility: $125M term loan (due 2026) and $225M revolver (due 2027); leverage ratio covenant ≤2.50x.
- 2023 executive compensation: base salaries $450k each for CEO, COO, VP Ops, CFO; RSU/PSU grants up to $1.125M each.
- Press release issued March 1, 2023 announcing completion of FlexSteel acquisition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1699136/000110465923027188/0001104659-23-027188-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1699136/000110465923027188/tm238037d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-027188

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer