--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-24-027127" form_type: "8-K" ticker: "SDST" cik: "0001831979" company_name: "Stardust Power Inc." filed_at: "2024-07-12T23:59:59+00:00" generated_at: "2026-05-31T21:16:57.979688+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # Stardust Power closes de-SPAC merger with GPAC II at $447.5M enterprise value ## Summary - 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. ## SEC filing metadata - accession: 0001493152-24-027127 - form_type: 8-K - ticker: SDST - cik: 0001831979 - company_name: Stardust Power Inc. - filed_at: 2024-07-12T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.01, 5.02, 2.01, 3.02, 9.01, 3.03, 5.01, 5.03, 5.05, 5.06, 7.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-24-027127 - JSON: https://secwatch.observer/filing/0001493152-24-027127.json - Plain text: https://secwatch.observer/filing/0001493152-24-027127.txt ## Key facts - Executive change Claudia Hollingsworth resigned as Director at Stardust Power Inc.. - Action: resigned - Role: Director source text: each of Gary DiCamillo, Claudia Hollingsworth and William Kerr resigned from their positions as directors of GPAC II evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change William Kerr resigned as Director at Stardust Power Inc.. - Action: resigned - Role: Director source text: each of Gary DiCamillo, Claudia Hollingsworth and William Kerr resigned from their positions as directors of GPAC II evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Chandra Patel resigned as Chief Executive Officer and Chairman at Stardust Power Inc.. - Action: resigned - Role: Chief Executive Officer and Chairman source text: Chandra Patel resigned from his positions as GPAC II’s Chief Executive Officer and Chairman evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Roshan Pujari was appointed as Chief Executive Officer at Stardust Power Inc.. - Action: appointed - Role: Chief Executive Officer source text: Roshan Pujari, as Chief Executive Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Udaychandra Devasper was appointed as Chief Financial Officer at Stardust Power Inc.. - Action: appointed - Role: Chief Financial Officer source text: Udaychandra Devasper, as Chief Financial Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Mark Rankin was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Jarett Goldman resigned as Chief Financial Officer at Stardust Power Inc.. - Action: resigned - Role: Chief Financial Officer source text: Jarett Goldman resigned from his position as GPAC II’s Chief Financial Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Gary DiCamillo resigned as Director at Stardust Power Inc.. - Action: resigned - Role: Director source text: each of Gary DiCamillo, Claudia Hollingsworth and William Kerr resigned from their positions as directors of GPAC II evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Pablo Cortegoso was appointed as Chief Technical Officer at Stardust Power Inc.. - Action: appointed - Role: Chief Technical Officer source text: Pablo Cortegoso, as Chief Technical Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Anupam Agarwal was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Charlotte Nangolo was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Sudhindra Kankanwadi was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Richard C. Davis resigned as President and Director at Stardust Power Inc.. - Action: resigned - Role: President and Director source text: Richard C. Davis resigned from his positions as President and Director evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Roshan Pujari was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Michael Earl Cornett Sr. was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Chandra Patel was appointed as Director at Stardust Power Inc.. - Action: appointed - Role: Director source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - Executive change Graeme Shaw resigned as Chief Technology Officer at Stardust Power Inc.. - Action: resigned - Role: Chief Technology Officer source text: Graeme Shaw resigned from his position as GPAC II’s Chief Technology Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm - M&A Transactions 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 source text: As a result of the completion of the Business Combination pursuant to the Business Combination Agreement, a change of control of GPAC II occurred. evidence_url: https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.