secwatch.observer — SEC 8-K summary
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Issuer:     Stardust Power Inc. (SDST)
CIK:        0001831979
Form:       8-K
Filed at:   2024-12-12T23:59:59+00:00
Accession:  0001493152-24-049821
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831979/000149315224049821/0001493152-24-049821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831979/000149315224049821/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-049821

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