Cactus, Inc. Announces Launch of Initial Public Offering

HOUSTON–(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:

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.

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 www.sec.gov 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 initial public offering, 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 Cactus’ initial
public offering. 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.

Contacts

Cactus, Inc.
Stephen Tadlock, (713) 396-5748
Vice
President of Corporate Services
[email protected]