secwatch.observer — SEC 8-K summary
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Issuer:     Cactus, Inc. (WHD)
CIK:        0001699136
Form:       8-K
Filed at:   2025-06-02T23:59:59+00:00
Accession:  0001104659-25-055263
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1699136/000110465925055263/0001104659-25-055263-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1699136/000110465925055263/tm2516702d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-055263

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