Castellum (CTM) has released an update to notify the public and investors about an entry into a material definitive agreement.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
On January 25, 2024, Castellum, Inc. agreed to a securities purchase agreement with an institutional investor for a registered direct offering of over 5 million shares of common stock and over 3 million pre-funded warrants, alongside warrants to purchase up to approximately 8.4 million additional shares, with aggregate gross proceeds of about $2.7 million before fees and expenses. This offering, expected to close by January 29, 2024, also includes a concurrent private placement and is subject to customary closing conditions. The company also engaged Maxim Group LLC as the lead placement agent, incurring fees and legal expense reimbursements.
For further insights into CTM stock, check out TipRanks’ Stock Analysis page.
