Castellum, which provides technology services primarily to government agencies, filed on Friday with the SEC to raise up to $13 million in an initial public offering. The company is currently listed on the OTC under the symbol "ONOV".
The Bethesda, MD-based company plans to raise $13 million by offering 3.2 million shares (16% secondary) at a price range of $3 to $5. At the midpoint of the proposed range, Castellum would command a fully diluted market value of $155 million.
Castellum is focused on acquiring and growing technology companies in order to provide services including intelligence analysis, software development, software engineering, program management, strategic and mission planning, information assurance, cybersecurity and policy support, and data analytics. The company's primary customers are US government agencies and departments at the federal, state, and local levels.
Castellum was founded in 2010 and booked $38 million in revenue for the 12 months ended June 30, 2022. It plans to list on the NYSE American under the symbol CTM. EF Hutton is the sole bookrunner on the deal.
