Castellum closes GTMR acquisition for ~4.9M shares and $1.25M cash; pro forma revenue >$50M

Castellum, Inc.

Acquired 100% of GTMR for 4,866,570 restricted shares and $1,250,000 cash ($350,000 held back for working capital).
GTMR is a $10M revenue government contractor; Castellum expects immediate accretion on revenue, cash profit, and net income per share.
Pro forma revenue run rate exceeds $50M; GTMR adds ~60 employees and a prime contract vehicle at Pax River.
Tax-free reorganization under Section 368; over 80% of consideration in stock.
Castellum expects to close another non-binding LOI within 10-20 days and continues acquisition pipeline.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Castellum, Inc. entered into Agreement and Plan of Merger with Global Technology and Management Resources, Inc. valued at $1,250,000 in cash (effective 2023-03-22).

Action: entry
Agreement: merger
Counterparty: Global Technology and Management Resources, Inc.
Value: $1,250,000 in cash
Effective: 2023-03-22

Exact text from the filing

On March 22, 2023 Castellum, Inc. (the “Company”), entered into an Agreement and Plan of Merger (the “Agreement”) by and among GTMR Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (the “Merger Sub”), Global Technology and Management Resources, Inc., a Maryland Corporation (“GTMR”), the stockholders of GTMR, and James Morton, as the representative of the Stockholders (the “Stockholders Representative”).

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Castellum, Inc. filing history →

Source: SEC EDGAR

accession 0001575872-23-000459

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