Stardust Power Secures $10M Three-Year Equity Facility for Oklahoma Lithium Refinery
Stardust Power secured up to $10.0 million in a three-year common equity financing facility with B. Riley Principal Capital to support pre-construction and construction of its Muskogee, Oklahoma, lithium carbonate refinery. It permits incremental share sales over 36 months under customary safeguards while preserving flexibility for other funding needs.
1. Financing Facility Agreement
Stardust Power has entered into a common stock purchase agreement with B. Riley Principal Capital II for an equity facility that allows raising up to $10.0 million of common stock over 36 months under customary Nasdaq compliance and ownership constraints.
2. Use of Funds
Proceeds from share sales under this facility will support pre-construction and construction activities for the Muskogee, Oklahoma lithium carbonate refinery, along with working capital, long-term growth objectives, and general corporate purposes.
3. Future Funding Flexibility
The structure permits incremental capital raises to avoid large block discounts, preserves optionality for alternative financing strategies, and includes pricing protections and ownership limits, positioning Stardust Power to advance key execution milestones on its battery-grade lithium project.