Castellum, Inc. (CTM), a provider of cybersecurity, electronic warfare, and software services to the U.S. federal market, Thursday has priced a public offering of 4,166,667 Units at $1.20 each, raising approximately $5 million before fees.
Each Unit comprises one share of common stock and a warrant to purchase an additional share at $1.22, exercisable immediately and expiring 60 days after issuance.
Net proceeds will support working capital and general corporate needs. The offering is expected to close around June 13.
CTM is currently trading $1.22 down $0.14 or 10.30 percent on the New York Stock Exchange.
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