Stardust Power Inc. closed a $4.3 million public offering to fund its lithium processing facility's feasibility study.
Quiver AI Summary
Stardust Power Inc., a U.S. developer of battery-grade lithium products, announced the completion of its underwritten public offering on June 18, 2025, raising approximately $4.3 million before fees and expenses by selling 21,500,000 shares at a price of $0.20 each. The company has also granted Aegis Capital Corp. a 45-day option to purchase an additional 3,225,000 shares to cover over-allotments, which could raise total proceeds to about $4.9 million. The funds will be used to complete the Definitive Feasibility Study for a proposed lithium processing facility in Muskogee, Oklahoma, which is a key step toward securing financing for its construction. Aegis Capital acted as the sole book-running manager for the offering, and the registration statement related to this offering was declared effective by the SEC.
Potential Positives
- The closing of the underwritten public offering generated approximately $4.3 million in gross proceeds, providing essential funding for the company.
- The successful offering brings the company closer to completing the Definitive Feasibility Study (DFS/FEL-3), a critical milestone aimed at advancing the lithium processing facility project in Muskogee, Oklahoma.
- The DFS will deliver detailed engineering and capital expenditure estimates, supporting the company's efforts in securing financing for the construction of Phase 1 of the facility.
- The inclusion of an over-allotment option allows potential for additional funding, up to a total of approximately $4.9 million if fully exercised.
Potential Negatives
- The offering was made at a low public offering price of $0.20 per share, indicating potential difficulty in attracting investor confidence.
- Gross proceeds of approximately $4.3 million may signal potential financial constraints or limited investor interest in the company’s future projects.
- The need for an underwritten public offering suggests that the company may be facing challenges in securing financing through other means, raising concerns about its financial health.
FAQ
What is the recent public offering by Stardust Power Inc.?
Stardust Power Inc. closed a public offering of 21.5 million shares, raising approximately $4.3 million.
What will the proceeds from the offering be used for?
The proceeds will support the completion of the Definitive Feasibility Study for their lithium processing facility in Oklahoma.
Who managed the public offering?
Aegis Capital Corp. acted as the sole book-running manager for the offering.
What is the significance of the Definitive Feasibility Study?
The DFS will outline engineering details and capital estimates essential for the lithium processing facility's development.
Where can I find the final prospectus for this offering?
The final prospectus will be available on the SEC’s website and can be obtained from Aegis Capital Corp.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SDST Insider Trading Activity
$SDST insiders have traded $SDST stock on the open market 11 times in the past 6 months. Of those trades, 0 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $SDST stock by insiders over the last 6 months:
- UDAYCHANDRA DEVASPER (Chief Financial Officer) has made 0 purchases and 5 sales selling 190,349 shares for an estimated $117,681.
- ROSHEN PUJARI (CEO and Chairman) has made 0 purchases and 2 sales selling 20,700 shares for an estimated $11,887.
- PARAMITA DAS (Chief Strategy Officer) sold 12,596 shares for an estimated $7,565
- CHRIS EDWARD CELANO (Chief Operating Officer) sold 6,925 shares for an estimated $3,670
- PABLO CORTEGOSO (Chief Technical Officer) has made 0 purchases and 2 sales selling 5,157 shares for an estimated $2,991.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Full Release
GREENWICH, CONNECTICUT, June 18, 2025 (GLOBE NEWSWIRE) --
Stardust Power Inc. (NASDAQ: SDST) (the “Company”), an American developer of battery-grade lithium products, today announced the closing of its previously announced underwritten public offering. Gross proceeds to the Company were approximately $4.3 million, before deducting underwriting fees and other offering expenses payable by the Company. The offering closed on June 18, 2025.
The offering consisted of 21,500,000 shares of common stock (“Common Stock”). The public offering price per share of Common Stock was $0.20. In addition, the Company has granted Aegis Capital Corp. (“Aegis”) a 45-day option to purchase up to an additional 3,225,000 shares of Common Stock, representing 15.0% of the number of shares of Common Stock sold in the offering solely to cover over-allotments, if any.
If the over-allotment option is exercised in full, aggregate gross proceeds to the Company are expected to total approximately $4.9 million. These funds will support the completion of the Definitive Feasibility Study (DFS/FEL-3), a transformational milestone for Stardust Power. The DFS will provide detailed engineering, comprehensive capital expenditure estimates, and a clearly defined scope of build for the Company’s proposed lithium processing facility in Muskogee, Oklahoma, laying a strong foundation for final investment decision (FID) efforts and bringing the project significantly closer to securing financing for the construction of Phase 1.
Aegis Capital Corp. acted as the sole book-running manager for the offering. Thompson Hine LLP acted as counsel to the Company. Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
A registration statement on Form S-1 (No. 333-287939) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 11, 2025 was declared effective by the SEC on June 16, 2025. The offering was made only by means of a prospectus. A final prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at
www.sec.gov
. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at
syndicate@aegiscap.com
, or by telephone at +1 (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus, which provides more information about the Company and such offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Stardust Power Inc.
Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium processing facility in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.”
Forward-Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans, including, but not limited to, the Company’s ability to timely complete the DFS/FEL. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
For Investors:
Johanna Gonzalez
investor.relations@stardust-power.com
For Media:
Michael Thompson
media@stardust-power.com
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