Castellum, Inc. completed the acquisition of Global Technology And Management Resources, Inc.
March 21, 2023
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Castellum, Inc. (NYSEAM:CTM) entered into a non-binding letter of intent to acquire Global Technology And Management Resources, Inc. for $6.7 million on January 18, 2023. Castellum, Inc. agreed to acquire Global Technology And Management Resources, Inc. for $6.55 million on March 22, 2023. The transaction is immediately accretive on a revenue per share, recurring cash operating profit per share, and net income per share basis to Castellum. Global Technologies Management Resources, Inc. is a $10 million revenue company. Jim Morton will join Castellum management. The deal is subject to customary due diligence and is expected to close in 90 days. The transaction is immediately accretive on a revenue per share, recurring cash operating profit per share, and net income per share basis to Castellum.
Castellum, Inc. (NYSEAM:CTM) completed the acquisition of Global Technology And Management Resources, Inc. on March 22, 2023. Subject to the terms and conditions of the Agreement, Global Technology And Management Resources received (a) 4,866,570 shares of the Company?s common stock, par value $0.0001 per share and (b) $1.25 million in cash, including Accounts receivable note for $0.16 million. The cash consideration was funded from a combination of (i) the proceeds of a convertible promissory note held by Crom Cortana Fund LLC (?Crom?) in the principal amount of $0.84 million, (ii) the factoring of accounts receivable of GTMR, and (iii) cash available at Global Technology And Management Resources. Blank Rome LLP acted as legal advisor to Global Technology And Management Resources and Pillsbury Winthrop Shaw Pittman LLP acted as legal advisor to Castellum, Inc. Castellum also acquired $0.475 million of cash of Global Technology And Management Resources, Inc.
Castellum, Inc. is a technology company in the areas of cybersecurity, information technology (IT), electronic warfare, information warfare, and information operations with businesses in the defense, federal, civilian, and commercial markets. Its services include intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity and policy support, data analytics and model-based systems engineering (MBSE). The Company develops information warfare and information operations (IW/IO) plans, exercises, doctrine, and training for the Military Services and the Combatant Commands in domestic and deployed overseas locations. It provides platform integration, modernization, and sustainment; system engineering; training and simulation services and logistics engineering. It offers expertise and technology to defense, intelligence and civilian agencies of the United States federal, state and local governments.
CASTELLUM, INC. 