WHD - Cactus launches 5.5M-share secondary offering

Cactus Inc. (WHD) -1.3% post-market after commencing a secondary public offering of 5.5M common shares by selling stockholders, with an underwriters option to purchase up to an additional 825K shares.Cactus will not receive any proceeds from the secondary offering.Shares reached a 52-week intraday high of $39.07 during today's trade.Cactus reported weak Q4 results but strong guidance, and its shares have performed well recently because investors foresee a cyclical recovery, Alex Pitti writes in a bullish analysis posted recently on Seeking Alpha.

For further details see:

Cactus launches 5.5M-share secondary offering