Core Points - Stardust Power Inc. announced the exercise of an over-allotment option for an additional 1,100,000 shares, resulting in gross proceeds of approximately $220,000, bringing total gross proceeds from the offering to approximately $4.52 million [1][2] - The proceeds will support the completion of the Definitive Feasibility Study (DFS) for a lithium processing facility in Muskogee, Oklahoma, which is a critical step toward a Final Investment Decision (FID) [2] - The company aims to produce up to 50,000 metric tons per annum of battery-grade lithium, contributing to America's energy leadership and sustainable supply chains [5] Financial Details - The offering was managed by Aegis Capital Corp., and the registration statement was declared effective by the SEC on June 16, 2025 [3] - The offering's gross proceeds are before deducting underwriting fees and other estimated expenses [1] Strategic Importance - The strong investor interest in the offering reflects confidence in the company's business strategy, indicating a strategic and timely decision to advance its business plan [2] - Completing the DFS will provide detailed engineering and refined capital estimates, moving the project closer to construction financing [2]
Stardust Power Inc. Announces Exercise of Over-Allotment Option from Recent Public Offering