Castellum Announces Pricing of $4.5 Million Public Offering of Common Stock and Warrants
Castellum (NYSE-American: CTM), a cybersecurity and electronic warfare services company, has announced the pricing of its public offering of 4,500,000 Units at $1.00 per Unit. Each unit includes one common stock share and one warrant, with warrants exercisable at $1.08 per share and expiring in 60 days.
The offering is expected to generate gross proceeds of approximately $4.5 million before deducting placement agent fees and expenses. The company plans to use the net proceeds for working capital and general corporate purposes. Maxim Group serves as the sole placement agent, with the offering expected to close around March 18, 2025.
The offering is conducted under a previously filed shelf registration statement that became effective on January 24, 2025. A final prospectus supplement and accompanying prospectus will be filed with the SEC.
Castellum (NYSE-American: CTM), un'azienda che offre servizi di cybersecurity e guerra elettronica, ha annunciato il prezzo della sua offerta pubblica di 4.500.000 unità a $1,00 per unità. Ogni unità include una azione ordinaria e un warrant, con warrants esercitabili a $1,08 per azione e con scadenza in 60 giorni.
Si prevede che l'offerta genererà proventi lordi di circa $4,5 milioni prima di detrarre le commissioni e le spese dell'agente di collocamento. L'azienda prevede di utilizzare i proventi netti per il capitale circolante e per scopi aziendali generali. Maxim Group funge da unico agente di collocamento, con l'offerta che dovrebbe chiudersi intorno al 18 marzo 2025.
L'offerta è condotta sotto una dichiarazione di registrazione shelf precedentemente depositata, che è diventata efficace il 24 gennaio 2025. Un supplemento al prospetto finale e il prospetto accompagnatorio saranno depositati presso la SEC.
Castellum (NYSE-American: CTM), una empresa de servicios de ciberseguridad y guerra electrónica, ha anunciado el precio de su oferta pública de 4,500,000 Unidades a $1.00 por Unidad. Cada unidad incluye una acción ordinaria y un warrant, con warrants ejercitables a $1.08 por acción y que expiran en 60 días.
Se espera que la oferta genere ingresos brutos de aproximadamente $4.5 millones antes de deducir las comisiones y gastos del agente de colocación. La empresa planea utilizar los ingresos netos para capital de trabajo y propósitos corporativos generales. Maxim Group actúa como el único agente de colocación, y se espera que la oferta cierre alrededor del 18 de marzo de 2025.
La oferta se lleva a cabo bajo una declaración de registro de estantería previamente presentada que se hizo efectiva el 24 de enero de 2025. Se presentará un suplemento final del prospecto y el prospecto acompañante ante la SEC.
Castellum (NYSE-American: CTM)는 사이버 보안 및 전자전 서비스 회사로, 450만 개 유닛을 유닛당 $1.00에 공개하는 가격을 발표했습니다. 각 유닛에는 한 주식과 하나의 워런트가 포함되어 있으며, 워런트는 주당 $1.08에 행사 가능하며 60일 후에 만료됩니다.
이번 공모를 통해 약 450만 달러의 총 수익을 올릴 것으로 예상되며, 이는 배치 에이전트 수수료 및 비용을 차감하기 전의 금액입니다. 회사는 순수익을 운영 자본 및 일반 기업 목적에 사용할 계획입니다. Maxim Group은 단독 배치 에이전트로 활동하며, 공모는 2025년 3월 18일경에 마감될 것으로 예상됩니다.
이번 공모는 2025년 1월 24일에 효력이 발생한 이전에 제출된 선반 등록 명세서에 따라 진행됩니다. 최종 투자설명서 보충서와 동반 투자설명서가 SEC에 제출될 예정입니다.
Castellum (NYSE-American: CTM), une entreprise de services de cybersécurité et de guerre électronique, a annoncé le prix de son offre publique de 4 500 000 unités à 1,00 $ par unité. Chaque unité comprend une action ordinaire et un warrant, les warrants étant exerçables à 1,08 $ par action et expirant dans 60 jours.
On s'attend à ce que l'offre génère des recettes brutes d'environ 4,5 millions de dollars avant déduction des frais et dépenses de l'agent de placement. L'entreprise prévoit d'utiliser les recettes nettes pour le fonds de roulement et des fins d'entreprise générales. Maxim Group agit en tant qu'agent de placement unique, l'offre devant se clôturer aux alentours du 18 mars 2025.
L'offre est réalisée dans le cadre d'une déclaration d'enregistrement de shelf précédemment déposée qui est entrée en vigueur le 24 janvier 2025. Un supplément au prospectus final et le prospectus accompagnant seront déposés auprès de la SEC.
Castellum (NYSE-American: CTM), ein Unternehmen für Cybersicherheits- und elektronische Kriegsführungsdienste, hat die Preisgestaltung für sein öffentliches Angebot von 4.500.000 Einheiten zu $1,00 pro Einheit bekannt gegeben. Jede Einheit umfasst eine Stammaktie und ein Warrant, wobei Warrants zu $1,08 pro Aktie ausgeübt werden können und in 60 Tagen ablaufen.
Es wird erwartet, dass das Angebot brutto Einnahmen von etwa $4,5 Millionen generiert, bevor die Gebühren und Ausgaben des Platzierungsagenten abgezogen werden. Das Unternehmen plant, die Nettoerlöse für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. Maxim Group fungiert als alleiniger Platzierungsagent, und das Angebot wird voraussichtlich um den 18. März 2025 schließen.
Das Angebot erfolgt im Rahmen einer zuvor eingereichten Shelf-Registrierungserklärung, die am 24. Januar 2025 wirksam wurde. Ein endgültiger Prospektzusatz und der begleitende Prospekt werden bei der SEC eingereicht.
- Immediate access to $4.5 million in gross proceeds to strengthen working capital
- Warrants priced at $1.08, representing an 8% premium to the offering price
- Significant dilution for existing shareholders through 4.5 million new shares
- Short 60-day warrant exercise period may create selling pressure
- Offering price of $1.00 per unit may represent a discount to market price
Insights
Castellum's $4.5 million public offering represents a concerning capital raise that warrants investor attention. The offering is structured as 4,500,000 Units at $1.00 each (comprising one share plus one warrant exercisable at $1.08), representing a 15.3% discount to the current
The financial implications are significant for this small-cap government contractor. The dilution impact is substantial, representing approximately
Most concerning is the vague allocation of proceeds for "working capital and general corporate purposes" rather than specific strategic initiatives. For federal government contractors, such generic language often indicates liquidity challenges rather than opportunistic growth capital. While government contractors sometimes need capital for contract mobilization, the significant discount and warrant sweetener structure typically suggest urgency rather than planned expansion.
The timing of this offering, combined with its below-market pricing and short-term warrant structure, points to potential cash flow constraints. Federal contractors with strong pipelines and healthy cash positions rarely need to issue equity at substantial discounts, making this capital raise a potential red flag regarding Castellum's current operational status.
VIENNA, Va., March 16, 2025 (GLOBE NEWSWIRE) -- Castellum, Inc. (the “Company” and “Castellum”) (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, today announced the pricing of its previously announced public offering of 4,500,000 Units at a public offering price of
Gross proceeds from the offering are expected to be approximately
Maxim Group LLC is acting as the sole placement agent, on a reasonable best-efforts basis for the offering.
The closing of the offering is expected to occur on or about March 18, 2025 subject to satisfaction of customary closing conditions.
A shelf registration statement on Form S-3 (File No. 333-284205) relating to the securities being offered was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on January 24, 2025. The shares of common stock and shares underlying the warrants are being offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the public offering have been filed with the SEC. A final prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and accompanying prospectus relating to the public offering may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus, together with the information incorporated by reference therein, for more complete information about the Company and the proposed offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Castellum, Inc.
Castellum, Inc. (NYSE-American: CTM) is a defense-oriented technology company that is executing strategic acquisitions in the cybersecurity, MBSE, and information warfare areas - http://castellumus.com/.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Words such as “will,” “would,” “believe,” and “expects,” and similar language or phrasing are indicative of forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others: the Company’s ability to close the described equity financing; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company’s revenue due to a delay in the U.S. Congress approving a federal budget; and the Company’s ability to maintain the listing of its common stock on the NYSE American LLC. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in Item 1A. “Risk Factors” section of the Company’s recently filed Form 10-Q, Item 1A. "Risk Factors” in the Company’s most recent Form 10-K, and other filings with the Securities and Exchange Commission which can be viewed at www.sec.gov. These risks and uncertainties, or not closing the described potential equity financing in this press release, could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.
Contact:
Glen Ives
President and Chief Executive Officer
Phone: (703) 752-6157
Contact: Info@castellumus.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/590352b6-41bd-42db-ae52-4ac6cdaa126b
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