secwatch.observer — SEC 8-K summary
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Issuer:     Cactus, Inc. (WHD)
CIK:        0001699136
Form:       8-K
Filed at:   2025-12-02T23:59:59+00:00
Accession:  0001628280-25-054820
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1699136/000162828025054820/0001628280-25-054820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1699136/000162828025054820/whd-20251201.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-054820

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