HOUSTON--(BUSINESS WIRE)--Jul 9, 2018--Cactus, Inc. (NYSE: WHD) (“Cactus”) announced today that it has commenced an underwritten public offering (the “Offering”) of 10,000,000 shares of its Class A common stock (“common stock”) 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 1,500,000 shares of common stock. Cactus’ Class A common stock is traded on the New York Stock Exchange under the ticker symbol “WHD.”

Cactus intends to contribute the net proceeds of the Offering to its operating company subsidiary, Cactus Wellhead, LLC (“Cactus LLC”), in exchange for common units representing limited liability company interests in Cactus LLC (“CW Units”). Cactus will cause Cactus LLC to use the net proceeds to redeem CW Units from certain of the other owners of Cactus LLC. Citigroup and Credit Suisse, the lead book-running managers in Cactus’ initial public offering (“IPO”), have agreed to waive the IPO lock-up restrictions to the extent necessary to permit certain officers and employees of Cactus to participate in the redemption. The waiver will take effect on July 11, 2018.

Citigroup and Credit Suisse are acting as joint book-running managers for the Offering.

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, as amended. 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

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 designs, manufactures, sells and rents a range of highly engineered wellhead 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 operates 15 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.

Important Information

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at  under “Cactus, Inc.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the proposed public offering and the use of proceeds therefrom, represent Cactus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Cactus does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Cactus to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the public offering, Cactus’ Form 10-K for the year ended December 31, 2017 and Form 10-Q for the quarter ended March 31, 2018 and its other filings with the SEC. The risk factors and other factors noted in Cactus’ prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180709005852/en/

CONTACT: Cactus, Inc.

Stephen Tadlock, 713-396-5748

Vice President and Chief Administrative Officer

IR@CactusWHD.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: ENERGY OIL/GAS OTHER ENERGY MANUFACTURING ENGINEERING OTHER MANUFACTURING

SOURCE: Cactus, Inc.

Copyright Business Wire 2018.

PUB: 07/09/2018 04:33 PM/DISC: 07/09/2018 04:33 PM

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