Cactus, Inc.’s $308 Million Secondary Offering


Baker Botts and Vinson & Elkins advised on the transaction

Cactus, Inc. (NYSE: WHD) completed an underwritten public secondary offering of 8,500,000 shares of its Class A common stock by certain selling stockholders for total gross proceeds of $308.1 million.

Cactus will not receive any of the proceeds from the Offering. Citigroup and Credit Suisse acted as joint book-running managers for the Offering.

Baker Botts advised Cactus with a team including Michael Rosenwasser (Picture; New York), Adorys Velazquez (Partner; New York), John Johnston (Special Counsel; New York), Ieuan List (Associate; Houston), Jonathan Kovacs (Associate; New York) (Capital Markets); Don Lonczak (Partner; Washington D.C.) and Michael Bresson (Partner; Houston) (Tax).

Vinson & Elkins served as underwriters’ counsel with a team including Shelley Barber with senior associate Chris Mathiesen and associates David Choi and Maram Mahajna. Partners David Peck and Lina Dimachkieh and associate Virginia Blanton provided tax advice.

Involved fees earner: Michael Bresson – Baker Botts; John Johnston – Baker Botts; Jonathan Kovacs – Baker Botts; Ieuan List – Baker Botts; Don Lonczak – Baker Botts; Michael Rosenwasser – Baker Botts; Adorys Velazquez – Baker Botts; Shelley Barber – Vinson & Elkins LLP; David Choi – Vinson & Elkins LLP; Lina Dimachkieh – Vinson & Elkins LLP; Christian Mathiesen – Vinson & Elkins LLP; David Peck – Vinson & Elkins LLP;

Law Firms: Baker Botts; Vinson & Elkins LLP;

Clients: Cactus Inc.; Citigroup Inc.; Credit Suisse;

Author: Ambrogio Visconti