secwatch.observer — SEC 8-K summary
======================================

Issuer:     Stardust Power Inc. (SDST)
CIK:        0001831979
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0001213900-24-054788
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 8.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831979/000121390024054788/0001213900-24-054788-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831979/000121390024054788/ea0208192-8k425_global2.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-054788

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer