Castellum Secures $4.5 Million Through Public Stock Offering
Castellum Enhances Capital with New Offering
Castellum, Inc. (NYSE-American: CTM) has completed a significant financial transaction that demonstrates its robust market position. The company, known for its innovative approaches in cybersecurity and electronic warfare, has successfully closed its public offering, raising approximately $4.5 million. This offering consisted of 4,500,000 Units sold at a price of $1.00 each, each unit comprising one share of common stock and one warrant for additional shares.
Details of the Offering
The newly issued warrants allow investors to purchase additional shares at a price of $1.08 each, with an expiry set for 60 days from issuance. This structure not only provides immediate capital for Castellum but also gives investors a potential upside should the company’s stock perform favorably in the coming months.
Financial Utilization and Strategic Intent
The gross proceeds from this offering, once expenses are accounted for, will mainly serve for working capital and to fuel various corporate initiatives. Castellum aims to leverage these funds to bolster its operations within the defense sector, particularly in areas focusing on cybersecurity enhancements and integration of advanced technologies.
Role of Maxim Group LLC
Maxim Group LLC was the engaged placement agent for this offering, operating on a reasonable best-efforts basis. Their expertise has been pivotal in facilitating this transaction, ensuring that Castellum could effectively secure the necessary capital for its next growth phases.
Regulatory Compliance
Prior to launching the public offering, Castellum had filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC), which became effective earlier this year. This strategic decision allowed the company to offer shares efficiently and streamline the capital-raising process.
About Castellum, Inc.
Castellum, Inc. is dedicated to advancing its footprint in the defense technology sector. The company focuses on integrating innovative solutions within cybersecurity, model-based systems engineering (MBSE), and information warfare strategies. With a mission to provide essential technologies to federal government entities, Castellum continues to pursue strategic acquisitions that will enhance its capabilities and service offerings.
Contact Information
For further inquiries, Glen Ives, President and Chief Executive Officer of Castellum, can be contacted directly at (703) 752-6157. Additionally, interested parties can also reach out via email at info@castellumus.com.
Frequently Asked Questions
What is the purpose of Castellum's recent public offering?
The offering aims to raise capital for working purposes and corporate initiatives, particularly in cybersecurity and electronic warfare sectors.
What are the key components of the units sold in the offering?
Each unit sold consisted of one share of common stock and one warrant to purchase another share, providing investors with options for potential future investment.
How does Castellum plan to utilize the raised capital?
Castellum plans to invest the raised funds in enhancing its operations and pursuing strategic growth opportunities within the defense technology landscape.
Who acted as the placement agent for the offering?
Maxim Group LLC served as the sole placement agent for Castellum’s public offering, facilitating the investment process.
What does Castellum, Inc. focus on?
Castellum focuses on developing technologies related to cybersecurity, electronic warfare, and serving federal government needs through strategic acquisitions and innovative solutions.
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