Castellum, Inc. Reduces Principal Balance by $2 Million on Notes Payable to Robert Eisiminger and Extends Maturity Date
Castellum (NYSE-American: CTM) has successfully negotiated a $2 million reduction in principal balance on notes payable to Robert Eisiminger, bringing the total outstanding principal to $4 million. The cybersecurity and electronic warfare services company has also secured an extension of the maturity date to December 15, 2027 on the remaining note.
The complete terms of the amended agreement will be disclosed in an upcoming Form 8-K filing. CFO David Bell emphasized that this debt reduction strengthens their balance sheet, while CEO Glen Ives highlighted how this strategic move supports their organic growth strategy and ability to secure major prime contracts.
Castellum (NYSE-American: CTM) ha negoziato con successo una riduzione di 2 milioni di dollari del saldo principale sui titoli di debito dovuti a Robert Eisiminger, portando il totale del capitale residuo a 4 milioni di dollari. L'azienda specializzata in servizi di cybersecurity e guerra elettronica ha inoltre ottenuto un'estensione della scadenza al 15 dicembre 2027 per il titolo residuo.
I termini completi dell'accordo modificato saranno resi noti in un prossimo deposito del modulo 8-K. Il CFO David Bell ha sottolineato che questa riduzione del debito rafforza il loro bilancio, mentre il CEO Glen Ives ha evidenziato come questa mossa strategica supporti la loro strategia di crescita organica e la capacit脿 di assicurarsi importanti contratti principali.
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Los t茅rminos completos del acuerdo enmendado se revelar谩n en una pr贸xima presentaci贸n del Formulario 8-K. El CFO David Bell destac贸 que esta reducci贸n de deuda fortalece su balance, mientras que el CEO Glen Ives resalt贸 c贸mo este movimiento estrat茅gico apoya su estrategia de crecimiento org谩nico y su capacidad para asegurar contratos principales importantes.
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Castellum (NYSE-American : CTM) a r茅ussi 脿 n茅gocier une r茅duction de 2 millions de dollars du principal des billets 脿 payer 脿 Robert Eisiminger, portant le principal total restant 脿 4 millions de dollars. L'entreprise sp茅cialis茅e dans les services de cybers茅curit茅 et de guerre 茅lectronique a 茅galement obtenu une extension de la date d'茅ch茅ance au 15 d茅cembre 2027 pour le billet restant.
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Castellum (NYSE-American: CTM) hat erfolgreich eine Reduzierung des Kapitalbetrags um 2 Millionen US-Dollar bei den an Robert Eisiminger zahlbaren Schuldverschreibungen ausgehandelt, wodurch der ausstehende Kapitalbetrag auf 4 Millionen US-Dollar gesenkt wurde. Das Unternehmen f眉r Cybersicherheits- und elektronische Kriegf眉hrungsdienste hat au脽erdem eine Verl盲ngerung des F盲lligkeitsdatums f眉r die verbleibende Schuld bis zum 15. Dezember 2027 erreicht.
Die vollst盲ndigen Bedingungen der ge盲nderten Vereinbarung werden in einer bevorstehenden Einreichung des Formulars 8-K offengelegt. CFO David Bell betonte, dass diese Schuldenreduzierung ihre Bilanz st盲rkt, w盲hrend CEO Glen Ives hervorhob, wie dieser strategische Schritt ihre organische Wachstumsstrategie und F盲higkeit zur Sicherung gro脽er Hauptauftr盲ge unterst眉tzt.
- Principal balance reduced by $2 million, improving company's debt position
- Maturity date extended to December 15, 2027, providing improved debt management flexibility
- Total debt obligations decreased from $6 million to $4 million
- Company still carries $4 million in outstanding notes payable
VIENNA, Va., April 21, 2025 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM) ("Castellum" or "CTM"), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announces that it has entered into an amendment to a letter agreement to, among other things, reduce the principal balance on two notes payable to Robert Eisiminger by
In addition, the parties agreed to extend the maturity date on the remaining note payable until December 15, 2027. The full terms and conditions of the amendment to the letter agreement with Mr. Eisiminger are expected to be disclosed in a later today.
"De-levering our balance sheet and reducing our overall debt service load is a testament to our resilience and recent success. This strategic move will further fortify our ongoing performance," states .
"Our success in implementing our debt mitigation plans continues to bolster our healthy balance sheet and fuels our unwavering commitment to our organic growth strategy. We are well-positioned to make the right and timely investments to further strengthen our proven ability to win major prime contracts. This is another significant step in growing CTM better, stronger, and bigger for what's most important to us: our people, mission customers, and shareholders," states .
About Castellum, Inc.
) is a cybersecurity, electronic warfare, and software engineering services company focused on the federal government - .
Cautionary Statement Concerning Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the Company's expectations or beliefs concerning future events and can generally be identified by the use of statements that include words such as "estimate," "project," "believe," "anticipate," "shooting to," "intend," "plan," "foresee," "likely," "will," "would," "appears," "goal," "target" or similar words or phrases. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations for revenue growth and new customer opportunities, improvements to cost structure, and profitability. Forward-looking statements include, but are not limited to, statements regarding the Company's expectations for revenue growth and new customer opportunities and other customers, improvements to cost structure, and profitability.These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company's control, that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, among others: the Company's ability to compete against new and existing competitors; its ability to effectively integrate and grow its acquired companies; its ability to identify additional acquisition targets and close additional acquisitions; the impact on the Company's revenue due to a delay in the U.S. Congress approving a federal budget, operating under a prolonged continuing resolution, government shutdown, or breach of the debt ceiling, as well as the imposition by the U.S. government of sequestration in the absence of an approved budget; the ability of the U.S. federal government to unilaterally cancel a contract with or without cause, and more specifically, the potential impact of the U.S. DOGE Service Temporary Organization on government spending and terminating contracts for convenience. For a more detailed description of these and other risk factors, please refer to the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC") which can be viewed at www.sec.gov. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update any of the forward-looking statements made in this release or in any of its SEC filings except as may be otherwise stated by the Company.
Contact:
Glen Ives
President and Chief Executive Officer
Phone: (703) 752-6157
A photo accompanying this announcement is available at
FAQ
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