Cactus Announces Expiration of Hart-Scott-Rodino Waiting Period for the Pending FlexSteel Transaction
07 Fevereiro 2023 - 08:45PM
Business Wire
Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) today
announced the expiration of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended
("HSR"), with respect to the previously announced agreement to
acquire FlexSteel Technologies Holdings, Inc. and its affiliates
through a merger with its holding company, HighRidge Resources,
Inc. (“FlexSteel”) and Atlas Merger Sub, LLC, a newly formed
subsidiary of Cactus, Inc.
The expiration of the HSR waiting period occurred at 11:59 p.m.
Eastern Standard Time on February 6, 2023, without any action taken
by the Federal Trade Commission or the U.S. Department of Justice.
This was a condition to the closing of the pending transaction.
Completion of the transaction is subject to the satisfaction of the
remaining customary closing conditions and is expected to occur
during the first quarter of 2023.
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 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 service centers
throughout the United States and Australia, while also providing
equipment and services in select international markets.
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 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.
Forward-looking statements can be identified by the use of
forward-looking terminology including “may,” “believe,” “expect,”
“intend,” “anticipate,” “estimate,” “continue,” “potential,”
“will,” “hope” or other similar words and include the Company’s
expectation of future performance contained herein. These
statements discuss future expectations, may contain projections of
results of operations or of financial condition, or state other
“forward-looking” information. You are cautioned not to place undue
reliance on any forward-looking statements, which can be affected
by assumptions used or by risks or uncertainties, including
unanticipated challenges relating to the pending FlexSteel
transaction and related financing. Consequently, no forward-looking
statements can be guaranteed. When considering these
forward-looking statements, you should keep in mind the risk
factors and other factors noted in the Company’s Annual Report on
Form 10-K, any Quarterly Reports on Form 10-Q and the other
documents that the Company files with the Securities and Exchange
Commission. The risk factors and other factors noted therein could
cause actual results to differ materially from those contained in
any forward-looking statement. Cactus disclaims any duty to update
and does not intend to update any forward-looking statements, all
of which are expressly qualified by the statements in this section,
to reflect events or circumstances after the date of this
presentation.
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version on businesswire.com: https://www.businesswire.com/news/home/20230207006107/en/
Cactus, Inc. John Fitzgerald, 713-904-4655 Director of
Corporate Development and Investor Relations IR@CactusWHD.com
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