Stardust Power exchanges 958,400 warrants for 730,689 new shares, eliminating warrant overhang

Stardust Power Inc.

Entered into Warrant Exchange Agreement with institutional investor to exchange 958,400 existing warrants for 730,689 newly issued shares of common stock.
Exchange ratio of 1.31 warrants per share; warrants originally issued March 16, 2025 with exercise price of $115.00 per share.
No cash proceeds; exchange exempt from registration under Section 3(a)(9) of the Securities Act.
Existing warrants will be cancelled and all rights discharged upon closing expected first business day after October 30, 2025.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Stardust Power Inc. issued 730,689 shares of Common Stock of common stock to institutional investor for no cash proceeds.

Security: common stock
Shares: 730,689 shares of Common Stock
Purchaser: institutional investor
Consideration: no cash proceeds

Exact text from the filing

Pursuant to the Exchange Agreement, the Investor agreed to irrevocably exchange all of its warrants to purchase shares of the Company’s common stock, par value $0.0001 per share (“ Common Stock ”), originally issued on March 16, 2025 (the “ Existing Warrants ”), representing the right to purchase an aggregate of 958,400 shares of Common Stock (the “ Warrant Shares ”), for newly issued shares of Common Stock at an exchange ratio of 1.31 Warrant Shares for 1 share of Common Stock, resulting in the issuance to the Investor of 730,689 shares of Common Stock (the “ Acquired Shares ”) at closing (the “ Exchange ”).

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Source: SEC EDGAR

accession 0001493152-25-020272

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