Stardust Power Inc. Announces Pricing of $5.75 Million Public Offering
Stardust Power (NASDAQ: SDST) has announced the pricing of a public offering to raise $5.75 million through the sale of up to 4,792,000 shares of common stock and warrants. The combined offering price is set at $1.20 per share with accompanying warrants exercisable at $1.30 per share for five years.
The offering, expected to close around January 27, 2025, includes investment from a large institutional investor. A.G.P./Alliance Global Partners is serving as the sole placement agent. The company plans to use the proceeds for working capital, general corporate purposes, and to satisfy existing promissory notes.
The securities are being offered through a registration statement on Form S-1 that was declared effective on January 23, 2025. CEO Roshan Pujari noted that this financing supports their progress towards the FID stage for their large central lithium refinery.
Stardust Power (NASDAQ: SDST) ha annunciato il prezzo di un'offerta pubblica per raccogliere 5,75 milioni di dollari attraverso la vendita di fino a 4.792.000 azioni ordinarie e warrants. Il prezzo combinato dell'offerta è fissato a 1,20 dollari per azione con warrants associati esercitabili a 1,30 dollari per azione per cinque anni.
L'offerta, prevista per chiudersi intorno al 27 gennaio 2025, include un investimento da parte di un grande investitore istituzionale. A.G.P./Alliance Global Partners funge da unico agente di collocamento. La società prevede di utilizzare i proventi per il capitale circolante, scopi aziendali generali e per soddisfare note promissorie esistenti.
I valori mobiliari sono offerti attraverso una dichiarazione di registrazione sul modulo S-1 che è stata dichiarata efficace il 23 gennaio 2025. Il CEO Roshan Pujari ha sottolineato che questo finanziamento sostiene i loro progressi verso la fase FID per il loro grande impianto centrale di raffinazione del litio.
Stardust Power (NASDAQ: SDST) ha anunciado el precio de una oferta pública para recaudar 5.75 millones de dólares mediante la venta de hasta 4,792,000 acciones ordinarias y warrants. El precio combinado de la oferta se establece en 1.20 dólares por acción con warrants asociados que se pueden ejercer a 1.30 dólares por acción durante cinco años.
Se espera que la oferta se cierre alrededor del 27 de enero de 2025, e incluye una inversión de un gran inversor institucional. A.G.P./Alliance Global Partners actúa como el único agente de colocación. La empresa planea utilizar los ingresos para capital de trabajo, fines corporativos generales y para satisfacer notas promisorias existentes.
Los valores se ofrecen a través de una declaración de registro en el formulario S-1 que fue declarada efectiva el 23 de enero de 2025. El CEO Roshan Pujari destacó que este financiamiento apoya su progreso hacia la etapa FID para su gran refinería central de litio.
스타더스트 파워 (NASDAQ: SDST)는 575만 달러를 모금하기 위한 공모를 발표했습니다. 최대 4,792,000주의 보통주와 워런트를 판매합니다. 공동 제공 가격은 주당 1.20 달러로 설정되며, 동반 워런트는 1.30 달러에 5년 동안 행사할 수 있습니다.
이 공모는 2025년 1월 27일경 마감될 것으로 예상되며, 대규모 기관 투자자의 투자가 포함됩니다. A.G.P./Alliance Global Partners는 단독 배치 에이전트로 활동합니다. 회사는 자금을 운영 자본, 일반 기업 목적 및 기존의 약속어음 만족에 사용할 계획입니다.
증권은 2025년 1월 23일에 효력이 발생한 S-1 양식 등록statement를 통해 제공됩니다. CEO 로샨 푸자리(Roshan Pujari)는 이 자금 조달이 대규모 중앙 리튬 정제소의 FID 단계로 나아가는 지원이 된다고 언급했습니다.
Stardust Power (NASDAQ: SDST) a annoncé la tarification d'une offre publique visant à lever 5,75 millions de dollars par la vente de jusqu'à 4 792 000 actions ordinaires et d'options. Le prix de l'offre combinée est fixé à 1,20 dollar par action avec des options pouvant être exercées à 1,30 dollar par action pendant cinq ans.
On s'attend à ce que l'offre se clôture aux alentours du 27 janvier 2025, et inclut un investissement d'un grand investisseur institutionnel. A.G.P./Alliance Global Partners agit en tant qu'agent de placement unique. La société prévoit d'utiliser les recettes pour le fonds de roulement, des objectifs d'entreprise généraux, et pour satisfaire des billets à ordre existants.
Les titres sont offerts par le biais d'une déclaration d'enregistrement sur le formulaire S-1 qui a été déclarée efficace le 23 janvier 2025. Le PDG Roshan Pujari a noté que ce financement soutient leur progression vers la phase FID pour leur grande raffinerie de lithium centrale.
Stardust Power (NASDAQ: SDST) hat die Preisgestaltung einer öffentlichen Angebotsbekanntmachung zur Kapitalbeschaffung in Höhe von 5,75 Millionen Dollar durch den Verkauf von bis zu 4.792.000 Stammaktien und Warrants bekannt gegeben. Der kombinierte Angebots Preis beträgt 1,20 Dollar pro Aktie mit passenden Warrants, die für fünf Jahre zu 1,30 Dollar pro Aktie ausgeübt werden können.
Die Angebotsphase wird voraussichtlich am 27. Januar 2025 abgeschlossen. Sie umfasst Investitionen von einem großen institutionellen Investor. A.G.P./Alliance Global Partners fungiert als alleiniger Platzierungsagent. Das Unternehmen plant, die Erlöse für Betriebskapital, allgemeine Unternehmenszwecke und zur Begleichung bestehender Schuldscheine zu verwenden.
Die Wertpapiere werden über eine Registrierungsmitteilung auf Formular S-1 angeboten, die am 23. Januar 2025 für wirksam erklärt wurde. CEO Roshan Pujari stellte fest, dass diese Finanzierung ihren Fortschritt zur FID-Phase für ihre große zentrale Lithiumraffinerie unterstützt.
- Secured investment from a large institutional investor
- Successfully priced offering at $5.75 million gross proceeds
- Registration statement already declared effective by SEC
- Potential dilution from issuance of 4,792,000 new shares
- Additional potential dilution from warrant exercise
- Part of proceeds will be used to pay existing debt rather than growth
Insights
This
The participation of a large institutional investor provides validation for Stardust's business model, particularly important as the company progresses toward the Final Investment Decision (FID) for its lithium refinery. However, the offering price representing a slight discount to market price, combined with full warrant coverage, suggests the company had to offer attractive terms to secure this funding.
The planned use of proceeds for working capital and debt repayment indicates near-term cash flow pressures. While this financing provides immediate relief and operational runway, the company will need to demonstrate meaningful progress toward its refinery development to justify its valuation and potentially raise additional capital at more favorable terms in the future.
The involvement of A.G.P./Alliance Global Partners as placement agent and the fully registered nature of the offering (via Form S-1) adds credibility to the transaction, though the "reasonable best efforts" basis suggests some uncertainty in the final placement. The five-year warrant term provides a long runway for potential additional capital injection but also creates an overhang that could impact stock price appreciation potential.
GREENWICH, Conn., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced the pricing of its “reasonable best efforts” public offering for the purchase and sale of up to 4,792,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 4,792,000 shares of common stock at a combined offering price of
“We are proud that we have priced this round of financing with investment from a large institutional investor, representing their support for the Stardust Power story. This financing continues building on our progress towards the FID stage for our large central lithium refinery. The capital provides stability for the company to continue to execute against our business plan,” noted Stardust Power Founder and CEO, Roshan Pujari.
The closing of the Offering is expected to occur on or about January 27, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this Offering for working capital and general corporate purposes, as well as to satisfy amounts due under certain existing promissory notes of the Company.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.
The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-284298) previously filed with the Securities and Exchange Commission ("SEC") on January 15, 2025, which was declared effective on January 23, 2025. This Offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. An electronic copy of the final prospectus relating to the Offering may be obtained, when available, on the SEC's website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such 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 refinery 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.”
For more information, visit www.stardust-power.com
Stardust Power Contacts
For Investors:
Johanna Gonzalez
investor.relations@stardust-power.com
For Media:
Michael Thompson
media@stardust-power.com
Forward Looking Statements
Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, among other things, statements relating to the satisfaction of customary closing conditions related to the Offering, the timing of the anticipated closing of the Offering and the intended use of proceeds from the Offering. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.
Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.
Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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