---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-054820"
form_type: "8-K"
ticker: "WHD"
cik: "0001699136"
company_name: "Cactus, Inc."
filed_at: "2025-12-02T23:59:59+00:00"
generated_at: "2026-05-16T15:45:18.916907+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-054820
- form_type: 8-K
- ticker: WHD
- cik: 0001699136
- company_name: Cactus, Inc.
- filed_at: 2025-12-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1699136/000162828025054820/0001628280-25-054820-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1699136/000162828025054820/whd-20251201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-054820
- JSON: https://secwatch.observer/filing/0001628280-25-054820.json
- Plain text: https://secwatch.observer/filing/0001628280-25-054820.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1699136/000162828025054820/0001628280-25-054820-index.htm

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