Castellum, Inc. Secures $3.6 Million in Direct Stock Offering

Castellum, Inc. Engages in Direct Stock Offering

Castellum, Inc. (NYSE: CTM), a notable player in the cybersecurity and electronic warfare sectors, has taken a significant step towards enhancing its growth and operational capabilities. This innovative company, committed to delivering advanced software services primarily focused on the federal government, has recently announced the pricing of a registered direct offering.

Details of the Registered Direct Offering

The direct offering will facilitate the sale of a substantial number of shares. Specifically, Castellum plans to issue approximately 9,473,700 shares of its common stock at a price of $0.38 per share. This strategic move is anticipated to yield gross proceeds of around $3.6 million. These funds will aid in furthering the company's initiatives and enhance its technological offerings.

Placement Agent for the Offering

Maxim Group LLC has been engaged as the sole placement agent for this offering, ensuring that the process remains streamlined and effective. Having a distinguished partner like Maxim Group LLC allows Castellum to focus on its core operational strategies while securing necessary financial resources.

Utilization of Proceeds

The gross proceeds from this registered direct offering will be pivotal for Castellum’s growth objectives. The company plans to deploy these funds towards enhancing its operations, potentially expanding its cybersecurity capabilities with innovative solutions tailored for federal contracts. This aligns with its long-term strategy of delivering state-of-the-art defense technology and software services.

Regulatory Compliance and Future Outlook

It is important to note that the offering will proceed in accordance with a shelf registration statement, previously declared effective by the U.S. Securities and Exchange Commission (SEC). The company aims to ensure compliance with all regulatory requirements to provide transparency and trust to their investors.

Castellum's Vision and Market Position

In the evolving landscape of cybersecurity, Castellum (NYSE: CTM) remains steadfast in its commitment to growth through strategic acquisitions and technological innovations. The company’s proactive approach in targeting the defense and government sectors positions it uniquely within the market, paving the way for ongoing success and competitive advantage.

Moving Forward

As Castellum continues to implement its growth strategies, the immediate future appears promising. The infusion of $3.6 million from this registered direct offering is expected to significantly enhance the company's operational capabilities. This move not only solidifies Castellum's financial standing but also signifies its readiness to tackle the challenges and demands of the cybersecurity landscape.

Frequently Asked Questions

What is the primary purpose of Castellum's stock offering?

Castellum's stock offering primarily aims to secure approximately $3.6 million in funds to enhance its cybersecurity operations and support strategic growth initiatives.

Who is the placement agent for the stock offering?

Maxim Group LLC is acting as the sole placement agent for Castellum's registered direct stock offering.

How many shares are being offered in this stock offering?

Castellum is offering approximately 9,473,700 shares of its common stock at a price of $0.38 per share.

What are Castellum's main areas of focus?

Castellum primarily focuses on cybersecurity, electronic warfare, and software services aimed at federal government contracts.

What is the significance of the SEC approval for the offering?

The SEC's approval of Castellum's shelf registration statement ensures that the company is compliant with regulatory requirements, providing transparency to investors and facilitating the sale of securities.

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