- Castellum, Inc. reduces its principal balance on notes payable by $2 million.
- Debt maturity date extended to December 15, 2027, enhancing financial flexibility.
- Debt reduction strengthens balance sheet and supports organic growth strategy.
Castellum, Inc. (CTM, Financial), a cybersecurity and electronic warfare services company, has announced a strategic move to amend its debt agreements. The company successfully negotiated a $2 million reduction in the principal balance on notes payable to Robert Eisiminger, lowering the total outstanding principal to $4 million. This move is part of Castellum's ongoing efforts to manage its debt effectively and strengthen its financial position.
In addition to reducing its debt, Castellum has secured an extension of the maturity date for the remaining note payable to December 15, 2027. The company plans to disclose the detailed terms of this amended agreement in an upcoming Form 8-K filing with the Securities and Exchange Commission.
David Bell, Chief Financial Officer of Castellum, emphasized that this debt reduction fortifies the company's balance sheet, reducing the overall debt service load. Glen Ives, Chief Executive Officer of Castellum, highlighted how this strategic adjustment supports the company's organic growth strategy, positioning Castellum to win major prime contracts.
This development is seen as a positive step for Castellum (CTM, Financial), aligning with its goals to improve financial health and invest in growth opportunities. The company remains committed to enhancing its capability to secure significant contracts in its field.
