Stardust Power underwriter exercised option to purchase 1.1M shares

Stardust Power (SDST) announced that the underwriter of its previously announced public offering of common stock has exercised its option to purchase an additional 1.1M shares, resulting in additional gross proceeds of $220,000. The gross proceeds from the offering increased to approximately $4.52M. The exercise of the over-allotment option closed on June 25. “The proceeds from the over-allotment will support the completion of Stardust Power’s Definitive Feasibility Study, a critical step toward a Final Investment Decision (FID) for the planned lithium processing facility in Muskogee, Oklahoma,” Stardust said in a statement.