We advised Cactus on the stock offering

Davis Polk advised Cactus, Inc. on its $172.5 million follow-on offering of 3,224,300 shares of Class A common stock, which included 420,561 shares of Class A common stock from the full exercise of the underwriters’ option to purchase additional shares, to partially fund Cactus’s acquisition of FlexSteel Technologies Holdings, Inc. and its affiliates. Cactus shares are listed on the NYSE under the symbol “WHD.”

Cactus is primarily engaged in the design, manufacture and sale of 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 and production phases of its customers’ wells. Cactus operates through 15 U.S. service centers and has manufacturing and production facilities in Bossier City, Louisiana, and Suzhou, China.

The Davis Polk capital markets team included partner Shane Tintle and associates Arisa Akashi Sin and Yi Wang. The tax team included partners Michael Mollerus and Corey M. Goodman and associates Tyler Scheiner and Ted Lee. Counsel Sarah E. Kim provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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