Stardust Power Inc. (SDST), a U.S.-based developer of battery-grade lithium products, has announced the pricing of a firm commitment underwritten public offering expected to generate approximately $4.3 million in gross proceeds before deducting fees and expenses.
The offering includes 21.5 million shares of common stock, priced at $0.20 per share. Additionally, Aegis Capital Corp., the underwriter, has been granted a 45-day option to purchase up to 15% more shares to cover any over-allotments.
The transaction is anticipated to close around June 18, 2025, pending customary conditions. Stardust Power plans to use the proceeds, along with existing cash, for general corporate purposes and working capital.
SDST is currently trading at $0.1928, or 50.3477% lower on the NasdaqGM.
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