secwatch.observer — SEC 8-K summary
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Issuer:     Castellum, Inc. (CTM)
CIK:        0001877939
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001877939-24-000011
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Castellum secures $4M revolver, extends debt maturities, removes convertible dilution
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- Closed $4M revolver with Live Oak Bank; prime+2% interest, matures Feb 2025, secured by cash and receivables.
- Extended $6M of Eisiminger Notes to Aug 2026; interest set at 7.5% then 8% after Feb 2025.
- Restructured $2.4M BCR Trust note to non-convertible, amortizing $100k/month Sep 2024–Aug 2026, eliminating ~12M shares of dilution.
- Settled SSI earnout at $720k (from $877k), paid $180k upfront plus $20k/month for 27 months.
- Company now has no debt maturities remaining in 2024 beyond initial amortization payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877939/000187793924000011/0001877939-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877939/000187793924000011/ctm-20240222.htm
  HTML page:      https://secwatch.observer/filing/0001877939-24-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer