Castellum (CTM) Retires Promissory Note Early

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 retired its note payable with the Buckhout Charitable Remainder Trust (the “Buckhout Trust”) 15 months before its maturity date. Castellum originally issued a promissory note to the Buckhout Trust in November 2019 as part of CTM’s acquisition of Corvus Consulting, LLC (“Corvus”).

“Retiring this note not only represents a significant milestone in paying off the financing from our acquisition of Corvus; it also highlights the continued dramatic improvement in our balance sheet leverage, reducing our total long-term debt from over $12 million in December 2023 to less than $5 million. Our balance sheet is stronger, and our debt service load is much lower, allowing us to continue our relentless focus on growing our business and serving our customers,” states David Bell, Chief Financial Officer of Castellum.

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