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
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