The strategic alliance is in the form of a “Mentor-Protégé” arrangement pursuant to applicable rules of the Federal Acquisition Regulation (the “Alliance”).
Key Points:
- The strategic alliance is in the form of a “Mentor-Protégé” arrangement pursuant to applicable rules of the Federal Acquisition Regulation (the “Alliance”).
- The Alliance allows for the bidding on government contracts utilizing Epic’s small business status while leveraging SSI’s 40+ years of past performance.
- “We are pleased to announce this important Alliance with Epic,” said Mark Fuller, President and Chief Executive Officer of Castellum, Inc .
- We are confident that this Alliance will be a great win-win for our companies,” said Nirmala Nallamala, President of Epic Systems.
BETHESDA, Md., March 21, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announces its results for the year ended December 31, 2023.
Key Points:
- BETHESDA, Md., March 21, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announces its results for the year ended December 31, 2023.
- It is expected that audited financial results for 2023 will be disclosed in its Form 10-K which the Company expects to file with the Securities and Exchange Commission at www.sec.gov after the market closes today.
- Management uses a Non-GAAP financial measure, Recurring Cash Operating Profit (“RCOP”), as an important measure of the Company’s operating performance.
- See below for a full reconciliation of GAAP operating loss with non-GAAP recurring cash operating profit for Q4 2023.
BETHESDA, Md., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and software services company focused on the federal government, announces that it has closed its previously announced $4 million financing with Live Oak Bank .
Key Points:
- BETHESDA, Md., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and software services company focused on the federal government, announces that it has closed its previously announced $4 million financing with Live Oak Bank .
- Castellum, Inc. ("Castellum") now has a $4 million revolving credit facility secured by cash, receivables, and the Company's other assets.
- As part of the transaction, Castellum rolled over approximately $625,000 drawn down on its existing revolver with Live Oak Bank, paid down $400,000 owed to Robert Eisiminger, and paid down approximately $809,000 owed to the Buckhout Charitable Remainder Trust (the "BCR Trust").
- "As we continue to amortize our existing term loan with Live Oak Bank, our debt/cash operating profit ratio keeps improving, and we position ourselves for a much brighter future.
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Security (finance) The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant was $0.32.
Key Points:
- The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant was $0.32.
- The warrants will become exercisable upon effectiveness of shareholder approval, expire five years from such approval date, and have an exercise price of $0.35 per share.
- The gross proceeds to the Company from the registered direct offering and concurrent private placement were approximately $2.7 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company.
- “Today’s announcement represents another important milestone for Castellum,” said Mark Fuller, President and CEO .
Prospectus,
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Security (finance) The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.32.
Key Points:
- The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.32.
- The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $2.7 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company.
- The offering is expected to close on or about January 29, 2024, subject to the satisfaction of customary closing conditions.
- Maxim Group LLC is acting as the sole placement agent in connection with the offering.
BETHESDA, Md., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (the “Company”) (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces that it has signed a non-binding $4 million debt term sheet with a significant regional bank.
Key Points:
- BETHESDA, Md., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (the “Company”) (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces that it has signed a non-binding $4 million debt term sheet with a significant regional bank.
- The closing of the debt financing is subject to customary due diligence by the bank, including a field audit as well as the negotiation and execution of definitive loan documents.
- “We are pleased to announce that we have signed a term sheet which, upon closing, will facilitate the partial paydown and extension of our 2024 debt maturities until 2025 or later,” said Mark Fuller, President and CEO of Castellum .
- “We believe that this non-dilutive financing reflects our improving financial performance, strong backlog and pipeline, and excellent payment history on all our existing debt.
BETHESDA, Md., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (the "Company") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces highlights of its operating results for its third quarter ended September 30, 2023.
Key Points:
- BETHESDA, Md., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (the "Company") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces highlights of its operating results for its third quarter ended September 30, 2023.
- Operating loss, inclusive of all non-cash and non-recurring charges, including a $6.9 million write-down of goodwill triggered by the Company's stock price, was $8.6 million.
- Castellum, Inc.'s full financial results for the three and nine months ending September 30, 2023, will be published on Form 10-Q at www.sec.gov .
- Our pipeline of business development opportunities continues to grow, as does the number of submitted proposals for new contract opportunities.
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Castellum POTOMAC, Md., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) announces Bob Eisiminger has joined the Company in the role of Senior Advisor.
Key Points:
- POTOMAC, Md., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) announces Bob Eisiminger has joined the Company in the role of Senior Advisor.
- Mr. Eisiminger will focus on the organic growth of the business as the Company continues to grow its pipeline of new business opportunities and submitted proposals.
- “I could not be more excited to have Bob as a Senior Advisor,” said Mark Fuller, President and Chief Executive Officer of Castellum.
- He was named the EY Entrepreneur of the Year in the Government Contracting category for the Mid-Atlantic in 2019 .
BETHESDA, Md., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and software services company focused on the federal government, announces its 2024 budget targets and some corporate strategic initiatives.
Key Points:
- BETHESDA, Md., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and software services company focused on the federal government, announces its 2024 budget targets and some corporate strategic initiatives.
- “Consideration has also been given to whether the $1.2 million-plus of public company costs are worthwhile to our core shareholder group.
- With the expiration of the 12-month EF Hutton engagement lockup, we can now interview other investment bankers and get different perspectives on rebuilding some of the shareholder value lost over the past year.
- In short, we have a full plate of initiatives to pursue over the coming few months,” concluded Fuller.
POTOMAC, Md., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) (“Castellum”) announces that its Specialty Systems, Inc. subsidiary has been awarded a $3 million, 14-month U.S. Navy contract.
Key Points:
- POTOMAC, Md., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) (“Castellum”) announces that its Specialty Systems, Inc. subsidiary has been awarded a $3 million, 14-month U.S. Navy contract.
- With this contract, Castellum furthers the commitment to its U.S. Navy mission.
- “This is an important contract award as it will permit us to support our U.S. Navy mission customer by maximizing the readiness of the forces as they address a multitude of global threats,” said Mark Fuller , President and Chief Executive Officer of Castellum.
- “We are constantly looking for opportunities to leverage our expertise and past performance by creating new ways to support the national security imperatives of all the Castellum mission customers.”
