---
schema_version: "secwatch.filing_event.v1"
accession: "0001575872-23-000291"
form_type: "8-K"
ticker: "CTM"
cik: "0001877939"
company_name: "Castellum, Inc."
filed_at: "2023-02-16T23:59:59+00:00"
generated_at: "2026-06-19T09:47:13.949117+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Castellum raises $500k equity, refinances $840k debt, extends maturities to fund acquisition

## Summary
- Raised $500k equity at $1.06/share; issued $840k convertible note due Feb 2024 at 10% interest, convertible at $1.20.
- Warrants for 700k shares at $1.38 issued; paid off $1.05M note with $300k cash and 556,250 shares.
- No remaining debt maturities in 2023 (except Live Oak term loan); acquisition expected to close in 2-3 weeks.
- CEO says financing supports key acquisition to grow Navy cybersecurity business.

## SEC filing metadata
- accession: 0001575872-23-000291
- form_type: 8-K
- ticker: CTM
- cik: 0001877939
- company_name: Castellum, Inc.
- filed_at: 2023-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1877939/000157587223000291/0001575872-23-000291-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1877939/000157587223000291/ctm-20230213.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001575872-23-000291
- JSON: https://secwatch.observer/filing/0001575872-23-000291.json
- Plain text: https://secwatch.observer/filing/0001575872-23-000291.txt

## Key facts
- Material Agreements
  Castellum, Inc. entered into Securities Purchase Agreement with Crom Cortana Fund LLC (effective 2023-02-13).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Crom Cortana Fund LLC
  - Effective: 2023-02-13
  source text: Simultaneously therewith, the parties entered into the Securities Purchase Agreement (the “2023 SPA”) pursuant to which Crom purchased (a) a convertible promissory note in the principal amount of $840,000 (the “2023 Note Payable”) which matures February 13, 2024 and bears interest at a per annum rate equal to ten percent (10%) to be paid monthly, and (b) a warrant pursuant to which Crom has the right to purchase up to 700,000 shares of the Company’s common stock (the “2023 Warrant”) at an exercise price of $1.38 which expire sixty months from the date of issuance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1877939/000157587223000291/0001575872-23-000291-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.