Castellum, Inc. announces that it has closed its previously announced $4 million financing with Live Oak Bank. Castellum, Inc. now has a $4 million revolving credit facility secured by cash, receivables, and the Company's other assets. As part of the transaction, Castellum rolled over approximately $625,000 drawn down on its existing revolver with Live Oak Bank, paid down $400,000 owed to Robert Eisiminger, and paid down approximately $809,000 owed to the Buckhout Charitable Remainder Trust (the BCR Trust).

The remaining $6.0 million balance owed to Mr. Eisiminger is now due in Third Quarter 2026. The balance of $2.4 million owed to the BCR Trust will be fully amortized over 24 months starting September 2024, with the final payment due in August 2026. $400,000 owed to another creditor in 2024 is now due in July 2025, at which point it will amortize over 8 months.

Importantly, the amount owed to the BCR Trust is no longer convertible into Castellum's common stock, eliminating over 12 million shares of potential dilution from the Company's cap table. Outside the amortization of the remaining six payments on the term loan owed to Live Oak Bank, and the initial four (4) amortization payments to the BCR Trust in September ? December of this year, the Company now has no debt maturities remaining in 2024.