---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-055263"
form_type: "8-K"
ticker: "WHD"
cik: "0001699136"
company_name: "Cactus, Inc."
filed_at: "2025-06-02T23:59:59+00:00"
generated_at: "2026-05-20T02:59:52.052607+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Cactus to acquire 65% of Baker Hughes pressure control business for $344.5M cash

## Summary
- Cash purchase price of $344.5M for 65% membership interest in Baker Hughes Pressure Control.
- Cactus expects to fund using cash on hand (~$348M as of March 31, 2025) and its ABL credit facility.
- After two years, Cactus can call and Baker Hughes can put the remaining 35% at 6x EBITDA, min $530M, max $660M valuation.
- Transaction expected to close in H2 2025, subject to antitrust clearance and other customary conditions.
- ABL credit facility amended to exclude non-wholly owned and non-U.S. subsidiaries from guarantees and collateral.

## SEC filing metadata
- accession: 0001104659-25-055263
- form_type: 8-K
- ticker: WHD
- cik: 0001699136
- company_name: Cactus, Inc.
- filed_at: 2025-06-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1699136/000110465925055263/0001104659-25-055263-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1699136/000110465925055263/tm2516702d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-055263
- JSON: https://secwatch.observer/filing/0001104659-25-055263.json
- Plain text: https://secwatch.observer/filing/0001104659-25-055263.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.