Castellum's Successful Public Offering
Castellum, Inc. (NYSE-American: CTM), a prominent player in cybersecurity and software services, recently announced the successful closing of its public offering. This initiative involved 4,166,667 Units priced at $1.20 each, underscoring the company’s commitment to expanding its resources and capabilities in electronic warfare and software services tailored for the federal government.
Details of the Offering
The offering has generated approximately $5.0 million in gross proceeds. Each unit consists of one share of common stock along with a warrant for the purchase of an additional share at $1.22 per share. The warrants are immediately actionable and will expire within 60 days. Independently issued, these units provide the flexibility necessary for investors.
Intended Use of Proceeds
The funds raised through this offering are primarily earmarked for working capital and general corporate purposes. This strategic financial maneuver will enable Castellum to invest more effectively in its growth initiatives and service offerings.
Role of Placement Agent
Maxim Group LLC served as the sole placement agent, overseeing the process with a commitment to reasonable best-efforts standards. Their expertise in market placements has been crucial in executing this offering successfully.
Regulatory Compliance and Securities Registration
In adherence to regulatory requirements, Castellum had a shelf registration statement on Form S-3 approved by the U.S. Securities and Exchange Commission (SEC), which ensures proper handling of securities offered. Although these securities are being sold through a prospectus, details about the offering can be easily accessed through SEC filings, providing transparency to investors.
About Castellum, Inc.
Castellum, Inc. focuses on solutions that bolster national security through advanced cybersecurity measures and software engineering services. The firm’s strategic focus on the federal government positions it as a critical player in ensuring the security and integrity of federal systems.
Future Directions and Opportunities
Highlighted by its recent financial activities, Castellum is poised to capitalize on growth opportunities, particularly through potential acquisitions. The marketplace for cybersecurity services is expanding, and Castellum aims to secure its position as a leading provider.
Contact Information
Glen Ives serves as the President and Chief Executive Officer of Castellum, offering direct contact for further inquiries. Interested parties can reach him at (703) 752-6157 or via email at info@castellumus.com.
Frequently Asked Questions
What is Castellum's recent public offering about?
Castellum closed a public offering of 4,166,667 Units, raising approximately $5.0 million to fund corporate initiatives and enhance its market position.
How are the funds from the public offering being utilized?
The proceeds from the offering are designated for working capital and various corporate purposes aimed at bolstering operational capabilities.
What are the details regarding the warrants issued?
Each Unit contains a warrant allowing investors to purchase additional shares at $1.22 per share, expiring 60 days after issuance.
Who managed the public offering?
Maxim Group LLC acted as the sole placement agent, facilitating the offering process.
What does Castellum focus on as a company?
Castellum specializes in cybersecurity and software engineering services, primarily serving the federal government to enhance national security.
