secwatch.observer — SEC 8-K summary
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Issuer:     Stardust Power Inc. (SDST)
CIK:        0001831979
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0001493152-24-027127
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 5.02, 2.01, 3.02, 9.01, 3.03, 5.01, 5.03, 5.05, 5.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Stardust Power closes de-SPAC merger with GPAC II at $447.5M enterprise value
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/0001493152-24-027127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831979/000149315224027127/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-027127

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