Financing ·
Stardust Power Inc. issued 304,878 shares of common stock to Lind Global Asset Management XIII LLC on August 20, 2026…
SDSTStardust Power Inc.
Stardust Power Inc. issued 304,878 shares of common stock to Lind Global Asset Management XIII LLC on August 20, 2026, following a notice of conversion and default delivered by Lind on August 17, 2026. The conversion applied $150,000 of the outstanding principal amount of a Senior Secured Convertible Promissory Note at a price of $0.492 per share. This action was triggered because the company's market capitalization fell below $15.0 million for ten consecutive trading days, constituting an event of default under the note issued in December 2025. After this partial conversion, approximately $3.43 million in aggregate principal remained outstanding on the note. The shares were issued without cash proceeds under a Securities Act exemption. Stardust Power Inc. operates in the renewable energy sector, focusing on power generation technologies.