Stardust Power issues $1.75M promissory note at 15% interest; shares pledged as collateral

Stardust Power Inc.

Loan of $1,750,000 at 15% annual interest, maturing March 6, 2025.
Collateral: 5,500,000 shares of common stock owned by CEO Roshan Pujari.
Company to issue $3.5M in common stock to lender upon private placement or maturity.
Unregistered sale of equity securities under Regulation D exemption.
Special committee of independent directors approved the related-party transaction.

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