01:53 PM EDT, 03/19/2025 (MT Newswires) -- Castellum (CTM) said Wednesday it closed its public offering of 4.5 million units at $1 each for gross proceeds of $4.5 million.

Each unit consists of one common share and one warrant to purchase one share, with each warrant exercisable at $1.08 per share, the company said.

The company said it plans to use the net proceeds for working capital and general corporate purposes.

Castellum shares rose 11% in recent trading.

Price: 1.26, Change: +0.13, Percent Change: +11.06