Stardust Power Inc. (SDST) received a notice under Rule 144 for a potential sale of common stock by officer Udaychandra Devasper. The filing covers up to 9,227 shares of common stock, acquired through an "RSU GRANT VEST" on September 15, 2026, with sales indicated to be executed through Raymond James & Associates on or after September 16, 2026.
The notice also lists prior sales of Stardust Power common stock for this person over the past three months, providing regulators and investors transparency into ongoing disposition activity under Rule 144.
Stardust Power Inc. (SDST) received a Rule 144 notice indicating that officer Pablo Cortegoso plans to sell common stock of the company through Raymond James & Associates, Inc. The notice covers 123,614 shares of Stardust Power common stock to be sold on or after September 16, 2026 on NASDAQ. The shares listed for sale arise from multiple RSU grant vestings by the issuer on various dates in 2025 and 2026, as detailed in the filing.
Stardust Power Inc. (SDST) reported that its Chief Financial Officer, Devasper Udaychandra, sold 49,315 shares of common stock on September 10, 2026 at $0.16 per share. After this sale, he directly holds 76,987 shares. The sale was made under a Rule 10b5-1(c)(1) trading plan adopted on June 9, 2026.
Stardust Power Inc. (SDST) reported that officer Udaychandra Devasper filed a notice under Rule 144 to sell up to 49,315 shares of common stock through Raymond James & Associates on or after September 10, 2026. The shares derive from multiple RSU grant vesting events in 2025. The filing notes 14,049,388 shares outstanding and that 3,554 shares were sold in the prior three months for $6,913.
Stardust Power Inc. (SDST) filed an initial statement of beneficial ownership for Rivers Vagie Ray, who is identified as a director of the company. The filing reports no transactions and no equity holdings in Stardust Power securities at this time. A power of attorney is referenced in the exhibit list.
Stardust Power Inc. (SDST) reports that a prior event of default under its $4,800,000 Senior Secured Convertible Promissory Note with Lind Global Asset Management XIII LLC has led Lind to force a partial conversion of the note. The default was triggered when the company’s market capitalization stayed below $15.0 million for ten consecutive trading days, which allows Lind to require conversion of principal into common stock.
On August 17, 2026, Lind elected to convert $150,000 of principal at a conversion price of $0.492 per share, and on August 20, 2026 the company issued 304,878 shares of common stock to Lind. After this conversion, $3,430,000 of principal remained outstanding under the note and the company had 14,523,933 common shares issued and outstanding. The conversion generated no cash proceeds for Stardust Power and may result in additional amounts becoming due, including any mandatory default amount.
Stardust Power Inc., a pre-revenue developer of a lithium refinery, reported continued operating losses and tight liquidity for the quarter and six months ended June 30, 2026. The company is building a Muskogee, Oklahoma facility designed to produce up to 50,000 metric tons per year of battery-grade lithium but has not yet generated revenue.
For the six months, Stardust recorded a net loss of $9,137,586, widening its accumulated deficit to $77,480,170. Cash declined to $540,264 with total assets of $9,054,659 versus total liabilities of $17,295,519, resulting in a stockholders’ deficit of $8,240,860. Operating cash outflow was $4,002,652 in the period.
The company discloses substantial doubt about its ability to continue as a going concern, as expected costs exceed available cash and working capital. To fund operations, it relies on external capital: a $4.8M senior secured convertible note from Lind (with $4,080,000 principal outstanding at June 30), a $10,000,000 B. Riley equity purchase agreement (505,866 shares sold for $1,310,904 net to date), and a $5,000,000 at-the-market program (79,503 shares sold for $161,032 net in Q2). Subsequent to quarter end, a market-cap trigger on August 11, 2026 caused a default under the Lind note, creating an obligation equal to 110% of outstanding principal (about $4.22 million) plus other amounts, with Lind able to accelerate repayment or convert at a discount. Negotiations are ongoing, and Lind had not yet exercised remedies when the statements were issued.
Stardust Power Inc. reported the appointment of V. Ray Rivers to its Board of Directors, effective August 10, 2026, to serve until the 2027 annual meeting, also placing him on the Audit and Compensation Committees. The Board determined he qualifies as an independent director under Nasdaq standards. Rivers brings over three decades of capital markets and institutional investment experience from senior roles at several Wall Street firms and as Co-Chair of the Greenwich Economic Forum.
His compensation includes an annual cash retainer of $25,000, an Audit Committee retainer of $7,500, and a Compensation Committee retainer of $5,000, all pro-rated for 2026, plus an expected future stock grant of approximately $100,000 under the company’s 2024 equity plan. Stardust Power describes itself as building a major battery-grade lithium carbonate refinery in Oklahoma with planned capacity of up to 50,000 metric tons per annum.
Stardust Power Inc. entered into a non-binding Letter of Intent with Charge CCCV LLC (C4V) for potential supply of battery-grade lithium carbonate from Stardust Power’s planned Muskogee, Oklahoma refinery. C4V’s preliminary demand forecast envisions a phased offtake of 3,000 MT in 2028, 10,000 MT in 2029 and 20,000 MT by 2030, tied to its expanding U.S. battery manufacturing joint ventures.
The company notes that volumes, pricing and schedules remain subject to negotiation and execution of a definitive agreement, with no assurance such an agreement will be reached. Stardust Power also references a previously disclosed non-binding letter of agreement with a global trading house to sell up to 25,000 metric tons per year for 10 years, with an option to extend 5 years. Together, these arrangements are described as covering a substantial portion of the refinery’s expected up to 50,000 metric tons per annum capacity and supporting a potential pipeline of up to billions of dollars in sales, while the company continues to highlight substantial doubt about its ability to continue as a going concern and its need for additional financing.
Stardust Power Inc. reported that director Charlotte Nangolo resigned from its Board of Directors, effective immediately on July 20, 2026. She also resigned as a member of the Board’s Audit and Compensation Committees. She told the company her decision was for personal reasons and not due to any disagreement regarding operations, policies, or practices.
The company’s securities listed on The Nasdaq Capital Market include common stock, par value $0.0001 per share under the symbol SDST, and redeemable warrants under SDSTW, with 10 warrants exercisable for one share of common stock at an exercise price of $115.00.