Core Viewpoint - Stardust Power Inc. is executing a 1-for-10 reverse stock split to regain compliance with Nasdaq listing requirements and enhance access to capital markets, which is crucial for advancing its U.S. lithium refining project [2][3][4]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect on September 8, 2025, at 12:01 a.m. Eastern Time, with every ten shares combined into one share, reducing the number of outstanding shares to approximately 8,458,975 [3]. - The par value per share remains unchanged at $0.0001, and no fractional shares will be issued; instead, stockholders entitled to a fractional share will receive a cash payment [3]. Group 2: Strategic Importance - The reverse stock split is intended to strengthen the company's credibility with institutional investors and provide ongoing liquidity for shareholders, aligning with its long-term strategy for funding and advancing its lithium refining project [2][4]. - This action is not indicative of the company's fundamentals but is a strategic measure to ensure broader access to long-only institutional investors [4]. Group 3: Future Milestones - Stardust Power anticipates several key milestones, including the completion of Front-End Loading (FEL) 3 engineering work, advancement in permitting, securing project financing for the Phase 1 capital expenditure, and commencing heavy construction on the lithium processing facility in Muskogee, Oklahoma [5]. - Each of these milestones represents operational progress and potential value inflection points for shareholders, reinforcing the company's mission to establish a secure domestic supply of battery-grade lithium in North America [5]. Group 4: Company Overview - Stardust Power is focused on developing battery-grade lithium products to enhance America's energy leadership and is building a lithium processing facility in Muskogee, Oklahoma, with an anticipated capacity of producing up to 50,000 metric tons per annum [7].
Stardust Power Announces Reverse Stock Split to Regain Nasdaq Compliance and Position for Long-Term Growth