Stardust Power prices 4.79M shares at $1.20 in public offering

Stardust Power (SDST) announced the pricing of its “reasonable best efforts” public offering for the purchase and sale of up to 4,792,000 shares of common stock and warrants to purchase up to 4,792,000 shares of common stock at a combined offering price of $1.20 per share and accompanying warrant. The Company expects to receive aggregate gross proceeds of approximately $5.75M, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $1.30 per share, will be exercisable immediately and will expire five years from the issuance date. The closing of the Offering is expected to occur on or about January 27, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this Offering for working capital and general corporate purposes, as well as to satisfy amounts due under certain existing promissory notes of the Company. A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.