---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-054788"
form_type: "8-K"
ticker: "SDST"
cik: "0001831979"
company_name: "Stardust Power Inc."
filed_at: "2024-06-21T23:59:59+00:00"
generated_at: "2026-06-01T02:57:27.784522+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# GPAC II cuts Stardust Power deal EV to $447.5M, secures $10.1M PIPE at $9.35/share

## Summary
- Amendment No. 2 reduces enterprise value from $450M to $447.5M; Sponsor waives 1.71M private placement warrants.
- PIPE agreements with institutional and other investors total $10.075M at $9.35/share, for 1,077,541 shares.
- PIPE proceeds to fund post-close operations; no more than $3M expected drawn on existing equity line.
- Pro forma combined net loss of $8.5M for FY2023; basic EPS loss of $0.18-$0.19 depending on redemptions.
- Post-close ownership: Stardust Power ~88-91%, Sponsor ~6%, PIPE investors ~2% under various redemption scenarios.

## SEC filing metadata
- accession: 0001213900-24-054788
- form_type: 8-K
- ticker: SDST
- cik: 0001831979
- company_name: Stardust Power Inc.
- filed_at: 2024-06-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 8.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831979/000121390024054788/0001213900-24-054788-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831979/000121390024054788/ea0208192-8k425_global2.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-054788
- JSON: https://secwatch.observer/filing/0001213900-24-054788.json
- Plain text: https://secwatch.observer/filing/0001213900-24-054788.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.