India, March 19 -- Castellum, Inc. (CTM), a US-based technology service and solutions company serving the federal government, Wednesday has successfully closed its previously announced public offering of 4.5 million units at $1.00 per unit.
Each unit comprises one share of common stock and a warrant to purchase an additional share at an exercise price of $1.08. The warrants are immediately exercisable and will expire 60 days from the date of issuance. The shares and warrants were issued separately and are immediately tradable.
The offering generated approximately $4.5 million in gross proceeds before deducting placement agent fees and other expenses. Castellum plans to utilize the net proceeds for working capital and general corporate pur...