Stardust Power Inc Stock Price, News & Analysis

Stardust Power (NASDAQ: SDST), a battery-grade lithium products developer, has closed its underwritten public offering, raising $4.3 million in gross proceeds through the sale of 21.5 million shares of common stock at $0.20 per share. The company granted Aegis Capital Corp., the sole book-running manager, a 45-day option to purchase up to 3.225 million additional shares for over-allotments, potentially increasing total proceeds to $4.9 million. The funds will be used to complete the Definitive Feasibility Study for their proposed lithium processing facility in Muskogee, Oklahoma. This study will provide detailed engineering, capital expenditure estimates, and construction scope, advancing the project toward final investment decision and Phase 1 construction financing.

Stardust Power (NASDAQ: SDST), a battery-grade lithium products developer, has announced the pricing of an underwritten public offering expected to raise $4.3 million in gross proceeds. The offering comprises 21.5 million shares of common stock priced at $0.20 per share. Aegis Capital Corp. serves as the sole book-running manager and has a 45-day option to purchase up to 15% additional shares for over-allotments. The offering is anticipated to close around June 18, 2025, subject to customary conditions. The company plans to use the net proceeds for general corporate purposes and working capital. The offering is made through a Form S-1 registration statement declared effective by the SEC on June 16, 2025.

Stardust Power (NASDAQ: SDST) has signed a Memorandum of Understanding with Ohio University to advance lithium extraction and refining technologies, particularly focusing on Direct Lithium Extraction (DLE). The partnership supports a concept paper submitted to the U.S. Department of Energy's Vehicle Technologies Office for potential funding. Stardust Power will provide raw materials, technical expertise, and data to support research and development of lithium processing innovations. The collaboration includes developing a techno-economic model for evaluating DLE technologies and could help secure lithium brine feedstock for Stardust's processing plant in Muskogee, Oklahoma. The partnership also emphasizes workforce development and educational initiatives in lithium extraction and battery technologies.

Stardust Power (NASDAQ: SDST), a U.S. battery-grade lithium products developer, reported its Q1 2025 financial results. The company posted a net loss of $3.8 million ($(0.07) per share), compared to $1.4 million loss in Q1 2024. Key operational highlights include securing a service agreement with Oklahoma Gas and Electric for a dedicated substation providing 40MW of power at the Muskogee refinery site, and confirmation that the facility won't require an industrial wastewater permit due to its closed-loop water system.

Financial position shows cash and cash equivalents of $1.6 million with zero long-term debt. The company raised $8.0 million through public offering and warrant inducements, while using $2.9 million in operating activities and $1.0 million in investing activities. Stardust Power appointed Carlos Urquiaga as Senior Advisor, bringing over $40 billion in transaction experience to support financing efforts.

Stardust Power (SDST) has received confirmation that its planned lithium processing facility in Muskogee, Oklahoma will not require an industrial wastewater discharge permit from the Oklahoma Department of Environmental Quality (ODEQ). This milestone is attributed to the company's innovative closed-loop water system, which recycles water and eliminates wastewater discharge.

The company has already secured the General Permit for Stormwater Discharges and completed its Stormwater Pollution Prevention Plan (SWPPP). Additionally, SDST's Minor Source Air Permit is under technical review by ODEQ. The facility's design minimizes dependency on municipal water supplies and demonstrates the company's commitment to environmental stewardship in lithium production.

Stardust Power (NASDAQ: SDST), a developer of battery-grade lithium products, has scheduled its Q1 2025 earnings release for May 14, 2025, after market close. The company will host a conference call at 5:30 PM ET on the same day, led by CEO Roshan Pujari and CFO Uday Devasper.

Participants can join the call through two methods: via a registration link for asking questions or through a live audio webcast for listening only. Attendees are advised to log in 15 minutes before the call to receive instructions.

Stardust Power (NASDAQ: SDST) has signed a key service agreement with Oklahoma Gas and Electric Company (OG&E) to develop an electric substation for its proposed lithium refinery in Muskogee, Oklahoma. The substation, funded through a long-term usage commitment, will provide up to 40 megawatts of power capacity to what is set to become one of North America's largest lithium refineries.

Located in the Southside Industrial Park on a 66-acre site, the facility will contribute to domestic battery-grade lithium production, crucial for electric vehicles, energy storage, military technologies, and AI applications. The project is currently advancing toward its Final Investment Decision (FID) stage and is expected to create hundreds of well-paying jobs while establishing Oklahoma as a hub for clean energy and critical minerals processing.

Stardust Power (NASDAQ: SDST) has appointed Carlos Urquiaga as Senior Advisor, reporting to CEO Roshan Pujari. Urquiaga brings over 30 years of experience in metals, mining, energy, and infrastructure sectors, with expertise in capital raising and financial advisory services.

Throughout his career at BNP Paribas, Citi and Appian Capital, Urquiaga has executed over $40 billion in financing and advisory transactions, including notable projects like Teck's Quebrada Blanca Phase 2 and Freeport's Cerro Verde expansion.

In his new role, Urquiaga will focus on guiding Stardust Power through achieving Final Investment Decision (FID), supporting capital raising activities through debt and equity financing, and advancing strategic initiatives to scale lithium production for the growing battery-grade materials market.

Stardust Power (NASDAQ: SDST) reported its financial results for the year ended December 31, 2024, marking significant operational milestones despite widening losses. The company incurred a net loss of $23.8 million in 2024, compared to $3.8 million in 2023, with a loss per share of $0.55.

Key developments include the purchase of a 66-acre refinery site in Muskogee, Oklahoma for $1.7 million, and securing essential permits. The company raised $6.4 million in capital during 2024 and an additional $8.65 million in early 2025 through equity transactions and warrant exercises.

Notable achievements include entering a non-binding agreement with Sumitomo Americas for potential supply of up to 25,000 metric tons of lithium carbonate annually, signing a licensing agreement with KMX Technologies for VMD concentration technology, and advancing their Definitive Feasibility Study. The company also strengthened its leadership team with key appointments.