Castellum (CTM) values ​​1.5m stock offering at $2/sh, moves to NYSE

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Castellum, Inc. (NYSE: CTM) (OTC: ONOV) today announced the price for its public offering of common stock at a public offering price of $2.00 per share. Castellum is offering 1,500,000 common shares and has granted the underwriters a 45-day option to purchase up to an additional 225,000 common shares at the public offering price less underwriting rebates and commissions, to cover over-allotments, if applicable. The shares are expected to begin trading on the NYSE American Exchange on October 13, 2022 under the symbol “CTM” and the offering is expected to close on or about October 17, 2022, subject to satisfaction of customary closing conditions.

Prior to listing on the NYSE American Exchange, the Company’s common stock was listed on the OTC Pink under the symbol “ONOV”.

As part of this offer, the Company will consolidate its issued and outstanding common shares at a ratio of 1:20. The share consolidation is expected to be effective as of the opening of markets on October 13, 2022. Share count and price information in this release is adjusted to reflect the reverse stock split.

EF Hutton, a division of Benchmark Investments, LLC, is acting as sole bookrunner for the offering.

The Company’s registration statement on Form S-1 (File No. 333-267249) relating to the offering was declared effective by the United States Securities and Exchange Commission (the “SEC”) on October 12 2022. The offering is made solely by means of a prospectus. Copies of the final prospectus to be filed with the SEC may be obtained, when available, from EF Hutton, a division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via e-mail at [email protected] or by phone at (212) 404-7002.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the securities in the offer in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or territory.

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