Castellum Lands Second-Largest Contract In History, Stock Rockets 40% In Pre-Market
Synopsis
The five-year deal covers logistics, engineering, and cybersecurity services for the Mission Operations & Integration (MO&I) Department.
- Castellum’s subsidiary secured a $66.2 million contract from the Naval Air Warfare Center Aircraft Division.
- The five-year deal covers logistics, engineering, and cybersecurity services for the Mission Operations & Integration (MO&I) Department.
Castellum Inc. (CTM) announced on Friday that its subsidiary Specialty Systems Inc. (SSI) has secured a $66.2 million contract from the Naval Air Warfare Center Aircraft Division (NAWCAD) in New Jersey.
The deal is the cybersecurity and defense technology contractor’s second-largest win in its history.
Following the contract win, Castellum’s stock traded over 40% higher in Friday’s premarket. On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory amid ‘high’ message volume levels.
Agreement Components
The five-year deal covers logistics, engineering, and cybersecurity services for the Mission Operations & Integration (MO&I) Department, which supports aircraft launch and recovery systems used across Navy carriers and air-capable ships.
“It is an example that our targeted strategy to focus on full and open opportunities in our pipeline as we transition to a large business is working.”
-Drew Merriman, COO, Castellum
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