[Context: On January 29, Cadent Energy Partners-backed Cactus announced the launch of its IPO of 21.4 million shares at a range of $16 to $19. The company is backed through Cadent’s Fund II, according to SEC filings. Further details, underwriters and related links are below.]


Cactus | Cadent Energy Partners

Cactus, Inc. Announces Launch of Initial Public Offering

HOUSTON–January 29, 2018–(BUSINESS WIRE)–Cactus, Inc. (NYSE: WHD) (“Cactus”) announced today that it has launched an initial public offering of 21,428,571 shares of its Class A common stock at an anticipated initial offering price between $16.00 and $19.00 per share pursuant to a registration statement on Form S-1 (the “Registration Statement”) filed previously with the Securities and Exchange Commission (the “SEC”). In addition, Cactus intends to grant the underwriters a 30-day option to purchase up to an additional 3,214,285 shares of Cactus’ Class A common stock at the initial public offering price, less underwriting discounts and commissions. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol “WHD”.

Citigroup and Credit Suisse are acting as joint book-running managers. Simmons & Company International, Energy Specialists of Piper Jaffray; J.P. Morgan; and BofA Merrill Lynch are also acting as book-runners. Tudor, Pickering, Holt & Co.; Barclays; RBC Capital Markets; Raymond James; and Scotia Howard Weil are acting as co-managers.

The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. A copy of the preliminary prospectus may be obtained from:

Citigroup Global Markets Inc.
Attention: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (800) 831-9146
prospectus@citi.com

Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
One Madison Avenue
New York, New York 10010
Telephone: (800) 221-1037
newyork.prospectus@credit-suisse.com

About Cactus, Inc.

Cactus, Inc. designs, manufactures, sells and rents a range of highly-engineered wellheads and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion (including fracturing) and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus, Inc. operates 14 service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, SCOOP/STACK, Marcellus, Utica, Eagle Ford and Bakken, among other areas, and one service center in Eastern Australia.

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