8-K
filed July 12, 2024, 7:59 PM ET
ticker SDST
CIK 0001831979
M&A
confidence high
sentiment neutral
materiality 0.90
Stardust Power Inc. (SDST): M&A transaction — Stardust Power closes de-SPAC merger with GPAC II at $447.5M enterprise value
Stardust Power Inc.
- Enterprise value of $447.5M plus $50M earnout; total consideration based on $10 per share assumption.
- Public shareholders redeemed 1,657,158 shares at ~$11.38 each for ~$18.86M; remaining trust $1.56M.
- PIPE investment of $10.075M from large institutional and two other investors at $9.35/share.
- Combined company has 46.7M shares and 10.6M warrants outstanding; common stock and warrants trade under SDST and SDSTW.
- New board of seven members including Roshan Pujari as Chairman; 180-day lock-up for Sponsor and certain stockholders.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Claudia Hollingsworth resigned as Director at Stardust Power Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Gary DiCamillo, Claudia Hollingsworth and William Kerr resigned from their positions as directors of GPAC II
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
William Kerr resigned as Director at Stardust Power Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Gary DiCamillo, Claudia Hollingsworth and William Kerr resigned from their positions as directors of GPAC II
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Chandra Patel resigned as Chief Executive Officer and Chairman at Stardust Power Inc..
- Action
- resigned
- Role
- Chief Executive Officer and Chairman
Exact text from the filing
Chandra Patel resigned from his positions as GPAC II’s Chief Executive Officer and Chairman
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Roshan Pujari was appointed as Chief Executive Officer at Stardust Power Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Roshan Pujari, as Chief Executive Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Udaychandra Devasper was appointed as Chief Financial Officer at Stardust Power Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Udaychandra Devasper, as Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Rankin was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jarett Goldman resigned as Chief Financial Officer at Stardust Power Inc..
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
Jarett Goldman resigned from his position as GPAC II’s Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gary DiCamillo resigned as Director at Stardust Power Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Gary DiCamillo, Claudia Hollingsworth and William Kerr resigned from their positions as directors of GPAC II
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Pablo Cortegoso was appointed as Chief Technical Officer at Stardust Power Inc..
- Action
- appointed
- Role
- Chief Technical Officer
Exact text from the filing
Pablo Cortegoso, as Chief Technical Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Anupam Agarwal was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Charlotte Nangolo was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sudhindra Kankanwadi was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard C. Davis resigned as President and Director at Stardust Power Inc..
- Action
- resigned
- Role
- President and Director
Exact text from the filing
Richard C. Davis resigned from his positions as President and Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Roshan Pujari was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Earl Cornett Sr. was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Chandra Patel was appointed as Director at Stardust Power Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the following individuals were appointed to the Board: Roshan Pujari, Mark Rankin, Chandra Patel, Sudhindra Kankanwadi, Michael Earl Cornett Sr., Anupam Agarwal, and Charlotte Nangolo.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Graeme Shaw resigned as Chief Technology Officer at Stardust Power Inc..
- Action
- resigned
- Role
- Chief Technology Officer
Exact text from the filing
Graeme Shaw resigned from his position as GPAC II’s Chief Technology Officer
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Stardust Power Inc. underwent a change of control involving Global Partner Acquisition Corp II (closed 2024-07-08).
- Action
- change of control
- Counterparty
- Global Partner Acquisition Corp II
- Closing
- 2024-07-08
Exact text from the filing
As a result of the completion of the Business Combination pursuant to the Business Combination Agreement, a change of control of GPAC II occurred.
View on SEC.gov
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