Castellum, Inc. Completes $4.5 Mln Public Offering

(RTTNews) - Castellum, Inc. (CTM), a US-based technology service and solutions company serving the federal government, Wednesday has successfully closed its previously announced public offering of 4.5 million units at $1.00 per unit.

Each unit comprises one share of common stock and a warrant to purchase an additional share at an exercise price of $1.08. The warrants are immediately exercisable and will expire 60 days from the date of issuance. The shares and warrants were issued separately and are immediately tradable.

The offering generated approximately $4.5 million in gross proceeds before deducting placement agent fees and other expenses. Castellum plans to utilize the net proceeds for working capital and general corporate purposes.

CTM is currently trading at $1.25 or 10.6195% higher on the NYSE American.