Castellum Inc. (CTM), a company specializing in cybersecurity, electronic warfare, and software services primarily for the federal government, has announced its intention to conduct a public offering of its common stock. The entirety of the shares in this offering will be provided by the company.
As of the close of regular trading on Thursday, CTM's stock price surged by $0.80, equating to an increase of 137.93%, reaching $1.38.
The company has stated that the initial use of the net proceeds from this offering will be directed towards working capital and broader corporate objectives. However, the completion of the offering depends on prevailing market conditions and other considerations, with no guarantee regarding its timing, size, or terms.
Maxim Group LLC has been appointed as the exclusive placement agent for this offering, operating on a reasonable best-efforts basis.