Castellum, Inc.

(RTTNews) - Castellum, Inc. (CTM), a provider of cybersecurity, electronic warfare, and software services to the U.S. federal market, Thursday has priced a public offering of 4,166,667 Units at $1.20 each, raising approximately $5 million before fees.
Each Unit comprises one share of common stock and a warrant to purchase an additional share at $1.22, exercisable immediately and expiring 60 days after issuance.
Net proceeds will support working capital and general corporate needs. The offering is expected to close around June 13.
CTM is currently trading $1.22 down $0.14 or 10.30 percent on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Castellum Prices $5 Mln Equity Unit Offering, Stock Down

(RTTNews) - Castellum Inc. (CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government, said that it plans to offer and sell shares of its common stock in a public offering. The company is offering all of the shares of common stock.
CTM closed Thursday's regular trading at $1.38 up $0.80 or 137.93%.
The company noted that it initially intends to use the net proceeds of the offering for working capital and general corporate purposes. Consummation of the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.
Maxim Group LLCis acting as the sole placement agent for the offering on a reasonable best-efforts basis.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Castellum Announces Proposed Public Offering Of Common Stock; Stock Surges

The following companies are expected to report earnings after hours on 03/11/2024. Visit our Earnings Calendar for a full list of expected earnings releases.
Oracle Corporation (ORCL)is reporting for the quarter ending February 29, 2024. The computer software company's consensus earnings per share forecast from the 10 analysts that follow the stock is $1.09. This value represents a 13.54% increase compared to the same quarter last year. In the past year ORCL has met analyst expectations once and beat the expectations the other quarter. Zacks Investment Research reports that the 2024 Price to Earnings ratio for ORCL is 25.32 vs. an industry ratio of 32.10.
Caseys General Stores, Inc. (CASY)is reporting for the quarter ending January 31, 2024. The retail company's consensus earnings per share forecast from the 4 analysts that follow the stock is $2.20. This value represents a 6.78% decrease compared to the same quarter last year. CASY missed the consensus earnings per share in the 2nd calendar quarter of 2023 by -5.7%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CASY is 23.24 vs. an industry ratio of 23.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Vail Resorts, Inc. (MTN)is reporting for the quarter ending January 31, 2024. The leisure (recreational) company's consensus earnings per share forecast from the 8 analysts that follow the stock is $6.07. This value represents a 17.64% increase compared to the same quarter last year. The last two quarters MTN had negative earnings surprises; the latest report they missed by -7.88%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for MTN is 25.09 vs. an industry ratio of 24.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Asana, Inc. (ASAN)is reporting for the quarter ending January 31, 2024. The internet software company's consensus earnings per share forecast from the 7 analysts that follow the stock is $-0.34. This value represents a 15.00% increase compared to the same quarter last year. In the past year ASAN and beat the expectations the other two quarters. Zacks Investment Research reports that the 2024 Price to Earnings ratio for ASAN is -15.81 vs. an industry ratio of -7.50.
Ocular Therapeutix, Inc. (OCUL)is reporting for the quarter ending December 31, 2023. The drug company's consensus earnings per share forecast from the 5 analysts that follow the stock is $-0.28. This value represents a 16.67% decrease compared to the same quarter last year. OCUL missed the consensus earnings per share in the 1st calendar quarter of 2023 by -14.81%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for OCUL is -8.83 vs. an industry ratio of -6.00.
Mission Produce, Inc. (AVO)is reporting for the quarter ending January 31, 2024. The agriculture company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.08. This value represents a no change for the same quarter last year. AVO missed the consensus earnings per share in the 1st calendar quarter of 2023 by -700%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for AVO is 47.87 vs. an industry ratio of 10.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Bowman Consulting Group Ltd. (BWMN)is reporting for the quarter ending December 31, 2023. The business services company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.15. This value represents a 250.00% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for BWMN is -60.18 vs. an industry ratio of 99.30.
LifeMD, Inc. (LFMD)is reporting for the quarter ending December 31, 2023. The medical services company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.14. This value represents a 65.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for LFMD is -11.11 vs. an industry ratio of 17.10.
PLAYSTUDIOS, Inc. (MYPS)is reporting for the quarter ending December 31, 2023. The gaming company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.03. This value represents a 50.00% decrease compared to the same quarter last year. In the past year MYPS has met analyst expectations once and beat the expectations the other two quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MYPS is -107.00 vs. an industry ratio of -4.00.
NN, Inc. (NNBR)is reporting for the quarter ending December 31, 2023. The metal processing & fabrication company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.05. This value represents a 58.33% increase compared to the same quarter last year. The last two quarters NNBR had negative earnings surprises; the latest report they missed by -100%. The "days to cover" for this stock exceeds 10 days. Zacks Investment Research reports that the 2023 Price to Earnings ratio for NNBR is -19.44 vs. an industry ratio of 3.20.
Heritage Insurance Holdings, Inc. (HRTG)is reporting for the quarter ending December 31, 2023. The insurance (property & casualty) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.44. This value represents a 8.33% decrease compared to the same quarter last year. In the past year HRTG and beat the expectations the other three quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HRTG is 7.05 vs. an industry ratio of 16.70.
CytomX Therapeutics, Inc. (CTMX)is reporting for the quarter ending December 31, 2023. The biomedical (gene) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.02. This value represents a 104.76% increase compared to the same quarter last year. CTMX missed the consensus earnings per share in the 4th calendar quarter of 2022 by -100%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CTMX is 250.00 vs. an industry ratio of 0.80, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After-Hours Earnings Report for March 11, 2024 : ORCL, CASY, MTN, ASAN, OCUL, AVO, BWMN, LFMD, MYPS, NNBR, HRTG, CTMX

By Melanie Burton
MELBOURNE, Nov 15 (Reuters) - Australian mining moguls who have gatecrashed the country's recent international lithium deals have pushed bankers into trying fresh measures to fend off interlopers unwilling to pay the full price for their target.
Australia's vast lithium deposits needed for batteries for electric vehicles and the energy transition are drawing interest from global chemicals makers but local mining moguls Gina Rinehart, the country's richest person, and Chris Ellison have already thwarted two deals and threaten another.
While Rinehart's Hancock Prospecting and Ellison's Mineral Resources MIN.AX have refrained from full takeovers of the companies in the local lithium sector, their tactical efforts to keep foreign companies from doing so gives them time to establish a stronger footprint in the emerging industry.
Hancock and Mineral Resources are threatening the same with the deal between Azure Minerals and Chile's SQM SQMA.SN, the world's second-biggest lithium chemicals maker, after the companies accumulated shares of 18.9% and 13.6%, respectively.
In taking the stakes, Hancock has underscored its expertise in building mining projects, while Mineral Resources has said it wants to be part of projects that will sustain its growth for decades. Neither company has made an outright bid for Azure or Liontown.
Hancock and Mineral Resources declined to make additional comments.
Building these stakes offers influence over lithium developers for less money than a full takeover, and an option to take a bigger part in the growing industry, which will include downstream processing, said Marc Upcroft, a partner at PwC in Australia.
"If you have a blocking stake, that means that no one else is going to be able to easily come in and take control of the project. Then you've effectively, for a smaller price, built your role to play with that project going forward," he said.
Falling lithium prices over the past year, leading to lower stock prices for the developers, have propelled the interest in the acquisitions, along with the outlook for surging demand for the metal.
As well as Liontown, Core Lithium CXO.AX, Leo Lithium LLL.AX Latin Resources LRS.AX Patriot Metals PMT.AX, Chalice CHN.AX, Centaurus CTM.AX and Rex Minerals RXM.AX have all been cited by brokers as buyout prospects.
TWO-PRONGED SOLUTION
Their deep pockets, risk appetite and Australia's competition laws means mining magnates have a home advantage against listed companies, industry sources say.
"M&A in Australia is a rough game and home players have a big advantage especially when it's private money," said a financier at a global bank active in the lithium space, who asked to remain unidentified because of company policy.
One example that bankers offered in the case of SQM's bid for Azure was a two-pronged solution to erode any interloper advantage.
SQM's $900 million offer for Azure was set up as a so-called scheme of arrangement which must be court-approved and where 75% of voting shareholders must also back the plan.
The offer also included an off-market takeover option where SQM could go directly to shareholders if the scheme of arrangement should fail because an interloper accumulated 19% of the stock.
This dual-pronged approach has only been done in Australia six times, said Richard Lustig, head of Australian M&A at law firm Baker McKenzie in Melbourne.
"It started as a curiosity, now it's getting some kind of traction," he said.
The dual offer is useful for firms that are open to holding less than a 100% stake.
It offers a route for shareholders to accept a direct offer if an interloper appears, which can be faster than waiting months for the scheme of arrangement to complete.
It becomes harder for an interloper to build a blocking stake, and they are faced with the prospect that a bidder can take control even if they block the scheme, potentially leaving them as a minority shareholder and eroding their influence over the target firm.
"If there is a concern a scheme may get blocked by an existing shareholder or an interloper who has no intention of making an offer for the whole company then yes, this structure will be used more often," said a second banker involved in global lithium acquisitions.
(Reporting by Melanie Burton; Editing by Christian Schmollinger)
((melanie.burton@thomsonreuters.com Twitter: @MelanieMetals; +613 9286 1421; Reuters Messaging: melanie.burton.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ANALYSIS-As Aussie magnates gatecrash lithium deals, bankers get creative

Fintel reports that on August 15, 2023, EF Hutton reiterated coverage of Castellum (XASE:CTM) with a Buy recommendation.
Analyst Price Forecast Suggests 177.28% Upside
As of August 2, 2023, the average one-year price target for Castellum is 1.43. The forecasts range from a low of 1.41 to a high of $1.47. The average price target represents an increase of 177.28% from its latest reported closing price of 0.52.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Castellum is 49MM, an increase of 11.53%. The projected annual non-GAAP EPS is -0.21.
What is the Fund Sentiment?
There are 25 funds or institutions reporting positions in Castellum. This is an increase of 3 owner(s) or 13.64% in the last quarter. Average portfolio weight of all funds dedicated to CTM is 0.00%, a decrease of 5.89%. Total shares owned by institutions increased in the last three months by 24.90% to 1,363K shares.
What are Other Shareholders Doing?
Magnus Financial Group holds 250K shares representing 0.53% ownership of the company.
Geode Capital Management holds 226K shares representing 0.48% ownership of the company. No change in the last quarter.
FSMAX - Fidelity Extended Market Index Fund holds 180K shares representing 0.38% ownership of the company. In it's prior filing, the firm reported owning 183K shares, representing a decrease of 1.64%. The firm decreased its portfolio allocation in CTM by 24.14% over the last quarter.
Meridian Wealth Management holds 156K shares representing 0.33% ownership of the company. In it's prior filing, the firm reported owning 187K shares, representing a decrease of 20.06%. The firm decreased its portfolio allocation in CTM by 63.07% over the last quarter.
Kestra Private Wealth Services holds 153K shares representing 0.32% ownership of the company. In it's prior filing, the firm reported owning 75K shares, representing an increase of 51.21%. The firm increased its portfolio allocation in CTM by 39.22% over the last quarter.
Additional reading:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Castellum, Inc.

Sign up and unlock all the capabilities of the AI-screener