secwatch.observer — SEC 8-K summary
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Issuer:     Cactus, Inc. (WHD)
CIK:        0001699136
Form:       8-K
Filed at:   2026-01-02T23:59:59+00:00
Accession:  0001628280-26-000109
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cactus completes $344.5M acquisition of 65% stake in Baker Hughes surface pressure control business
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- Cash purchase price of $344.5M for 65% membership interest; funded from cash on hand.
- Joint Venture retained ~$70M minimum cash; additional payments of $45.5M at closing and $24.5M deferred.
- Exit option from second anniversary: valuation range $530M-$660M based on 6x Adjusted EBITDA.
- LLC includes non-compete restrictions and requires supermajority vote for significant actions.
- Formal financial guidance for the acquired business to be provided later in Q1 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1699136/000162828026000109/0001628280-26-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1699136/000162828026000109/whd-20260101.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-000109

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer