secwatch.observer — SEC 8-K summary
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Issuer:     Stardust Power Inc. (SDST)
CIK:        0001831979
Form:       8-K/A
Filed at:   2024-12-26T23:59:59+00:00
Accession:  0001493152-24-051944
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Stardust Power enters $1.8M promissory notes at 15% interest, pledges 3.4M founder shares
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- Aggregate $1.8M promissory notes issued Dec 13, 2024 to multiple lenders.
- Interest rate 15% per year, maturity March 13, 2025.
- Proceeds used for general corporate and working capital purposes.
- Collateral includes ~3.4M shares of common stock owned by founders.
- Additional commitment to issue $2.7M in common stock (min 360,000 shares) upon private placement or maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831979/000149315224051944/0001493152-24-051944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831979/000149315224051944/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-051944

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