Castellum (CTM) Retires Bank Term Loan Early

Castellum, Inc. (NYSE: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, announces that it has retired its term loan with Live Oak Banking Company (“Live Oak Bank”) ahead of schedule. Castellum originally borrowed $4 million from Live Oak Bank in August 2021 as part of its acquisition of its subsidiary, Specialty Systems, Inc.

Castellum’s total outstanding debt has been reduced to $10.3 million and is expected to continue to decrease as, starting in September 2024, the Company will begin making monthly principal payments on the Buckhout Charitable Trust promissory note.

“We are pleased to make this early payoff to Live Oak Bank of our term loan,” said Glen Ives, Castellum’s CEO. “This step reduces our future interest expense and frees up resources for growth,” he added.

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