Stardust Power signs $50M common stock purchase agreement with B. Riley

Stardust Power Inc.

Company may sell up to $50M of new common shares to B. Riley over 36 months at its discretion.
Issued 63,694 commitment shares valued at $7.85/share based on Oct 4, 2024 closing price.
Sale price set at VWAP minus 3% discount; subject to 9,569,701 share exchange cap and 4.99% beneficial ownership limit.
Proceeds intended for working capital and general corporate purposes; no obligation to sell.
B. Riley agreed not to engage in short sales or hedging of SDST stock during agreement term.

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