Cactus establishes $100M delayed draw term loan to partially finance Baker Hughes Pressure Control acquisition

Cactus, Inc.

New Term Loan Facility of up to $100M, undrawn at closing; matures 3 years after first draw.
Interest at ABR +2.50% or SOFR +3.50%; unused fee 0.05% per month.
Quarterly amortization starting April 2026, plus excess cash flow sweep from FY2027.
Leverage covenant set at 2.50:1; revolving credit maturity extended to December 1, 2030.
Collateral expanded to include equipment and intellectual property until term loan repaid.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cactus, Inc. amended ABL Credit Facility Amendment with JPMorgan Chase Bank, N.A. valued at $100.0 million (effective 2025-12-01).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $100.0 million
Effective: 2025-12-01

Exact text from the filing

On December 1, 2025, Cactus Companies, LLC (“Cactus Companies”), a subsidiary of Cactus Inc., entered into an amendment (the “ABL Credit Facility Amendment”) to its Amended and Restated Credit Agreement originally entered into on February 28, 2023

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Cactus, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-054820

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