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), sviluppatore di prodotti al litio di qualità batteria, ha concluso la sua offerta pubblica sottoscritta, raccogliendo 4,3 milioni di dollari lordi tramite la vendita di 21,5 milioni di azioni ordinarie a 0,20 dollari per azione. La società ha concesso ad Aegis Capital Corp., unico gestore del libro degli ordini, un'opzione di 45 giorni per acquistare fino a 3,225 milioni di azioni aggiuntive per sovrallocazioni, aumentando potenzialmente i proventi totali a 4,9 milioni di dollari. I fondi saranno utilizzati per completare lo Studio di Fattibilità Definitivo per l'impianto di lavorazione del litio proposto a Muskogee, Oklahoma. Questo studio fornirà dettagli ingegneristici, stime dei costi di capitale e l'ambito della costruzione, facendo avanzare il progetto verso la decisione finale di investimento e il finanziamento della costruzione della Fase 1.
Stardust Power (NASDAQ: SDST), desarrollador de productos de litio de grado batería, ha cerrado su oferta pública suscrita, recaudando 4,3 millones de dólares brutos mediante la venta de 21,5 millones de acciones ordinarias a 0,20 dólares por acción. La empresa otorgó a Aegis Capital Corp., único gestor del libro de órdenes, una opción de 45 días para comprar hasta 3,225 millones de acciones adicionales para sobreasignaciones, lo que podría aumentar los ingresos totales a 4,9 millones de dólares. Los fondos se utilizarán para completar el Estudio de Factibilidad Definitivo para su propuesta planta de procesamiento de litio en Muskogee, Oklahoma. Este estudio proporcionará ingeniería detallada, estimaciones de gastos de capital y alcance de construcción, avanzando el proyecto hacia la decisión final de inversión y la financiación de la construcción de la Fase 1.
Stardust Power (NASDAQ: SDST)는 배터리 등급 리튬 제품 개발업체로서, 0.20달러의 가격으로 2,150만 주의 보통주를 판매하여 430만 달러의 총 수익을 올리는 공모주 청약을 성공적으로 마감했습니다. 회사는 단독 주관사인 Aegis Capital Corp.에 45일간 최대 322만 5천 주를 추가 매입할 수 있는 옵션을 부여하여 총 수익을 490만 달러까지 늘릴 가능성을 열어두었습니다. 자금은 오클라호마주 머스코기에서 제안된 리튬 가공 시설의 확정 타당성 조사를 완료하는 데 사용될 예정입니다. 이 조사는 상세한 엔지니어링, 자본 지출 추정, 건설 범위를 제공하여 프로젝트가 최종 투자 결정과 1단계 건설 자금 조달로 나아가도록 지원할 것입니다.
Stardust Power (NASDAQ : SDST), développeur de produits lithium de qualité batterie, a clôturé son offre publique souscrite, levant 4,3 millions de dollars de recettes brutes grâce à la vente de 21,5 millions d’actions ordinaires à 0,20 dollar par action. La société a accordé à Aegis Capital Corp., unique chef de file, une option de 45 jours pour acheter jusqu’à 3,225 millions d’actions supplémentaires pour les surallocations, ce qui pourrait porter le produit total à 4,9 millions de dollars. Les fonds seront utilisés pour achever l’étude de faisabilité définitive de leur future usine de traitement du lithium à Muskogee, Oklahoma. Cette étude fournira une ingénierie détaillée, des estimations des dépenses en capital et le périmètre de construction, faisant progresser le projet vers la décision finale d’investissement et le financement de la construction de la phase 1.
Stardust Power (NASDAQ: SDST), ein Entwickler von Lithiumprodukten in Batteriequalität, hat sein unterzeichnetes öffentliches Angebot abgeschlossen und dabei 4,3 Millionen US-Dollar Bruttoerlös durch den Verkauf von 21,5 Millionen Stammaktien zu je 0,20 US-Dollar pro Aktie erzielt. Das Unternehmen gewährte Aegis Capital Corp., dem alleinigen Bookrunner, eine 45-tägige Option zum Kauf von bis zu 3,225 Millionen zusätzlichen Aktien für Überzeichnungen, womit die Gesamterlöse auf 4,9 Millionen US-Dollar steigen könnten. Die Mittel werden verwendet, um die endgültige Machbarkeitsstudie für die geplante Lithiumverarbeitungsanlage in Muskogee, Oklahoma, abzuschließen. Diese Studie wird detaillierte Ingenieursarbeiten, Kapitalaufwandsschätzungen und den Bauumfang liefern und das Projekt in Richtung endgültige Investitionsentscheidung und Finanzierung der Bauphase 1 voranbringen.
Positive
Successful closing of $4.3 million public offering with potential additional proceeds of $0.6 million from over-allotment option
Funds will support completion of Definitive Feasibility Study for lithium processing facility
Strategic advancement towards final investment decision for Oklahoma facility
Negative
Significant dilution with 21.5 million new shares issued
Low share price of $0.20 indicates potential market concerns
Additional dilution possible if over-allotment option is exercised
Insights
Stardust Power's $4.3M offering provides essential funding for feasibility study but comes with significant dilution at $0.20 per share.
Stardust Power has secured $4.3 million in gross proceeds through an underwritten public offering of 21.5 million shares at $0.20 per share, with potential to reach $4.9 million if the over-allotment option is fully exercised. This capital raise represents substantial dilution for existing shareholders given the low share price, but provides critical funding for the company's Definitive Feasibility Study (DFS) for its planned lithium processing facility in Oklahoma.
The $0.20 offering price signals challenging market conditions for Stardust as a development-stage lithium company. With the lithium market experiencing price volatility recently, raising capital at this price level suggests investors remain cautious about pre-revenue companies in this sector. However, completing the DFS represents a crucial de-risking step that could potentially attract project financing partners.
The funds are specifically earmarked for the DFS/FEL-3 (Front End Engineering Level 3) study, which will provide detailed engineering specifications and capital expenditure estimates - essential components for securing the much larger financing package needed for actual construction of the processing facility. This highlights the company's stage-gated approach to development, using this smaller financing to create the technical foundation necessary for the subsequent, more substantial capital raise required for construction.
Aegis Capital's role as sole book-runner and the granting of a 15% over-allotment option are standard features for small-cap offerings, though the need to potentially sell additional shares at this price level warrants attention from existing investors considering the dilutive impact.
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.
What is the size and price of Stardust Power's (SDST) public offering in June 2025?
Stardust Power raised $4.3 million by selling 21.5 million shares at $0.20 per share, with potential additional proceeds of $0.6 million if the over-allotment option is exercised.
How will Stardust Power (SDST) use the proceeds from its $4.3 million offering?
The proceeds will fund the completion of the Definitive Feasibility Study for their proposed lithium processing facility in Muskogee, Oklahoma, including detailed engineering and capital expenditure estimates.
Who managed Stardust Power's (SDST) public offering in June 2025?
Aegis Capital Corp. acted as the sole book-running manager for the offering.
What is the significance of the Definitive Feasibility Study for Stardust Power (SDST)?
The Definitive Feasibility Study is a transformational milestone that will provide detailed engineering, capital expenditure estimates, and construction scope, helping secure financing for Phase 1 construction.
How many additional shares can be purchased through SDST's over-allotment option?
Aegis Capital Corp. has a 45-day option to purchase up to 3,225,000 additional shares, representing 15% of the offering.
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