| | |
Page
|
| |||
ABOUT THIS PROSPECTUS
|
| | | | S-ii | | |
有關前瞻性陳述的警示聲明
|
| | | | S-iv | | |
SUMMARY | | | | | S-1 | | |
THE OFFERING
|
| | | | S-8 | | |
RISK FACTORS
|
| | | | S-10 | | |
USE OF PROCEEDS
|
| | | | S-13 | | |
CAPITALIZATION | | | | | S-14 | | |
註冊人普通股市場
|
| | | | S-15 | | |
美國聯邦所得税對非美國持有者的重大後果
|
| | | | S-16 | | |
UNDERWRITING | | | | | S-20 | | |
LEGAL MATTERS
|
| | | | S-26 | | |
EXPERTS | | | | | S-26 | | |
可用信息
|
| | | | S-26 | | |
通過引用合併的信息
|
| | | | S-26 | | |
|
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
ABOUT CACTUS, INC.
|
| | | | 1 | | |
|
通過引用合併某些文件
|
| | | | 2 | | |
|
可用信息
|
| | | | 2 | | |
|
有關前瞻性陳述的警示聲明
|
| | | | 4 | | |
|
RISK FACTORS
|
| | | | 6 | | |
|
USE OF PROCEEDS
|
| | | | 7 | | |
|
股本説明
|
| | | | 8 | | |
|
存托股份説明
|
| | | | 12 | | |
|
認股權證説明
|
| | | | 13 | | |
|
債務證券説明
|
| | | | 14 | | |
|
贖回CW單位和B類普通股
|
| | | | 17 | | |
|
SELLING STOCKHOLDERS
|
| | | | 18 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 20 | | |
|
LEGAL MATTERS
|
| | | | 22 | | |
|
EXPERTS
|
| | | | 22 | | |
| | |
Pro Forma
|
| |
Historical
|
| ||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended December 31,
|
| |||||||||||||||
(in thousands)
|
| |
Nine Months
Ended September 30, 2022 |
| |
Year Ended
December 31, 2021 |
| |
Nine Months
Ended September 30, 2022 |
| |
Nine Months
Ended September 30, 2021 |
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||||||||
合併損益表
Data: |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues
|
| | | $ | 766,045 | | | | | $ | 674,168 | | | | | $ | 500,595 | | | | | $ | 308,673 | | | | | $ | 438,589 | | | | | $ | 348,566 | | | | | $ | 628,414 | | |
Income from operations
|
| | | | 163,402 | | | | | | 43,650 | | | | | | 126,527 | | | | | | 49,715 | | | | | | 75,427 | | | | | | 70,039 | | | | | | 183,150 | | |
Net income
|
| | | | 122,705 | | | | | | 24,638 | | | | | | 104,383 | | | | | | 47,087 | | | | | | 67,470 | | | | | | 59,215 | | | | | | 156,303 | | |
現金流量數據合併表:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
投資活動中使用的淨現金
|
| | | | — | | | | | | — | | | | | | (19,496) | | | | | | (8,417) | | | | | | (11,633) | | | | | | (18,147) | | | | | | (55,948) | | |
合併資產負債表數據(期末):
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | | 77,375 | | | | | | — | | | | | | 320,623 | | | | | | 301,974 | | | | | | 301,669 | | | | | | 288,659 | | | | | | 202,603 | | |
Long-term debt, net
|
| | | | 254,420 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Other: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
EBITDA (unaudited)(1)
|
| | | | 217,797 | | | | | | 117,207 | | | | | | 152,528 | | | | | | 75,785 | | | | | | 112,227 | | | | | | 110,004 | | | | | | 226,298 | | |
Adjusted EBITDA (unaudited)(1)
|
| | | | 239,705 | | | | | | 178,360 | | | | | | 160,552 | | | | | | 83,741 | | | | | | 120,355 | | | | | | 121,022 | | | | | | 228,999 | | |
| | |
Pro Forma
|
| |
Historical
|
| ||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended December 31,
|
| |||||||||||||||
(in thousands)
|
| |
Nine Months
Ended September 30, 2022 |
| |
Year Ended
December 31, 2021 |
| |
Nine Months
Ended September 30, 2022 |
| |
Nine Months
Ended September 30, 2021 |
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||||||||
Net income
|
| | | $ | 122,705 | | | | | $ | 24,638 | | | | | $ | 104,383 | | | | | $ | 47,087 | | | | | $ | 67,470 | | | | | $ | 59,215 | | | | | $ | 156,303 | | |
利息(收入)支出,淨額
|
| | | | 13,372 | | | | | | 19,918 | | | | | | (1,344) | | | | | | 632 | | | | | | 774 | | | | | | (701) | | | | | | (879) | | |
所得税費用(福利)
|
| | | | 28,211 | | | | | | (349) | | | | | | 23,498 | | | | | | 586 | | | | | | 7,675 | | | | | | 10,970 | | | | | | 32,020 | | |
折舊和攤銷
|
| | | | 53,509 | | | | | | 73,000 | | | | | | 25,991 | | | | | | 27,480 | | | | | | 36,308 | | | | | | 40,520 | | | | | | 38,854 | | |
EBITDA(未經審計)
|
| | | | 217,797 | | | | | | 117,207 | | | | | | 152,528 | | | | | | 75,785 | | | | | | 112,227 | | | | | | 110,004 | | | | | | 226,298 | | |
服務費(1)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,864 | | | | | | — | | |
其他營業外(收入)支出(2)
|
| | | | (10) | | | | | | (898) | | | | | | (10) | | | | | | 1,004 | | | | | | (898) | | | | | | 555 | | | | | | (5,336) | | |
二次發售相關費用
|
| | | | — | | | | | | 406 | | | | | | — | | | | | | 406 | | | | | | 406 | | | | | | — | | | | | | 1,042 | | |
FlexSteel管理層長期激勵計劃費用
|
| | | | 12,536 | | | | | | 8,365 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
以交易相關股票為基礎的
薪酬 |
| | | | 1,348 | | | | | | 3,430 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
與交易相關的庫存增加費用(3)
|
| | | | — | | | | | | 23,689 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
與交易有關的其他費用(4)
|
| | | | — | | | | | | 17,541 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
股票薪酬
|
| | | | 8,034 | | | | | | 8,620 | | | | | | 8,034 | | | | | | 6,546 | | | | | | 8,620 | | | | | | 8,599 | | | | | | 6,995 | | |
調整後EBITDA(未經審計)
|
| | | $ | 239,705 | | | | | $ | 178,360 | | | | | $ | 160,552 | | | | | $ | 83,741 | | | | | $ | 120,355 | | | | | $ | 121,022 | | | | | $ | 228,999 | | |
| | |
As of
September 30, 2022 |
| |||||||||||||||
(單位為千,每股數據除外)
|
| |
Actual
|
| |
As Adjusted
|
| |
Pro Forma
|
| |||||||||
| | |
(unaudited)
|
| |||||||||||||||
現金和現金等價物
|
| | | $ | 320,623 | | | | | $ | 440,623 | | | | | $ | 77,375(2) | | |
Long-term debt(1)
|
| | | $ | — | | | | | $ | — | | | | | $ | 254,420 | | |
Stockholders’ equity: | | | | | | | | | | | | | | | | | | | |
優先股,面值0.01美元;授權發行10,000股,未發行或未發行股份
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
A類普通股,面值0.01美元;授權300,000股,已發行和流通股60,719股,實際; 已發行和流通股,經調整;以及 已發行和已流通股,調整後預計
|
| | | | 607 | | | | | | 631 | | | | | | 632 | | |
Class B common stock, $0.01 par value; 215,000 shares
授權,15,159股已發行和流通股,實際; 15,159股已發行和已發行股票,調整後為15,159股 已發行和已發行的股份,調整後的形式 |
| | | | — | | | | | | — | | | | | | — | | |
新增實收資本
|
| | | | 307,698 | | | | | | 413,160 | | | | | | 398,046 | | |
Retained earnings
|
| | | | 237,551 | | | | | | 237,551 | | | | | | 221,947 | | |
累計其他綜合收益
|
| | | | (1,617) | | | | | | (1,617) | | | | | | (1,617) | | |
仙人掌公司股東權益合計
|
| | | | 544,239 | | | | | | 649,725 | | | | | | 619,008 | | |
非控股權益
|
| | | | 131,411 | | | | | | 150,549 | | | | | | 171,191 | | |
股東權益總額
|
| | | $ | 675,650 | | | | | $ | 800,274 | | | | | $ | 790,199 | | |
Total capitalization
|
| | | $ | 675,650 | | | | | $ | 800,274 | | | | | $ | 1,044,619 | | |
Underwriter
|
| |
Number of Shares
|
|
摩根大通證券有限責任公司
|
| | | |
Total
|
| | | |
|
Paid by Cactus
|
| |
No Exercise
|
| |
Full Exercise
|
| ||||||
Per Share
|
| | | $ | | | | | $ | | | ||
Total
|
| | | $ | | | | | $ | | | |
|
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
ABOUT CACTUS, INC.
|
| | | | 1 | | |
|
通過引用合併某些文件
|
| | | | 2 | | |
|
可用信息
|
| | | | 2 | | |
|
有關前瞻性陳述的警示聲明
|
| | | | 4 | | |
|
RISK FACTORS
|
| | | | 6 | | |
|
USE OF PROCEEDS
|
| | | | 7 | | |
|
股本説明
|
| | | | 8 | | |
|
存托股份説明
|
| | | | 12 | | |
|
認股權證説明
|
| | | | 13 | | |
|
債務證券説明
|
| | | | 14 | | |
|
贖回CW單位和B類普通股
|
| | | | 17 | | |
|
SELLING STOCKHOLDERS
|
| | | | 18 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 20 | | |
|
LEGAL MATTERS
|
| | | | 22 | | |
|
EXPERTS
|
| | | | 22 | | |
| | |
實益擁有的股份
Before the Offering |
| |
Shares of
Class A Common Stock that May Be Sold(3) |
| |
實益擁有的股份
After the Offering |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Class A
Common Stock |
| |
Class B
Common Stock(1) |
| |
Combined
Voting Power(2) |
| |
Class A
Common Stock |
| |
Class B
Common Stock(1) |
| |
Combined
Voting Power(2) |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Number
|
| |
%
|
| |
Number
|
| |
%
|
| |
Number
|
| |
%
|
| | | | | | | |
Number
|
| |
%
|
| |
Number
|
| |
%
|
| |
Number
|
| |
%
|
| ||||||||||||||||||||||||||||||||||||
Selling Stockholder
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cactus WH Enterprises,
LLC(4) |
| | | | — | | | | | | — | | | | | | 15,014,963 | | | | | | 90.0 | | | | | | 15,014,963 | | | | | | 19.8 | | | | | | 15,014,963 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Lee Boquet(5)
|
| | | | — | | | | | | — | | | | | | 1,395,601 | | | | | | 8.4 | | | | | | 1,395,601 | | | | | | 1.8 | | | | | | 1,395,601 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Scott Bender(4)(6)(7)
|
| | | | 109,931 | | | | | | * | | | | | | 15,014,963 | | | | | | 90.0 | | | | | | 15,124,894 | | | | | | 20.0 | | | | | | 15,124,894 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Joel Bender(4)(7)(8)
|
| | | | 108,071 | | | | | | * | | | | | | 15,014,963 | | | | | | 90.0 | | | | | | 15,123,034 | | | | | | 20.0 | | | | | | 15,123,034 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,628,566 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |