On March 16, 2025, Castellum, Inc. entered into a securities purchase agreement to sell 4,500,000 units at $1.00 each, raising $4.5 million, with warrants exercisable at $1.08 expiring on May 16, 2025; as of March 18, 2025, 1,145,000 warrants were exercised, generating $1,236,600.