Stardust Power prices 21.5M shares at 20c in underwritten public offering

Stardust Power (SDST) announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $4.3 million, before deducting underwriting fees and other offering expenses payable by the Company. The offering consists of 21,500,000 shares of common stock. The public offering price per share of Common Stock is $0.20. In addition, the Company has granted Aegis Capital a 45-day option to purchase additional shares of Common Stock of up to 15.0% of the number of shares of Common Stock sold in the offering solely to cover over-allotments, if any. Aggregate gross proceeds to the Company are expected to be approximately $4.3 million. The transaction is expected to close on or about June 18, 2025, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. is acting as the sole book-running manager for the offering. Thompson Hine is acting as counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.