Stardust Power (SDST) Registration filing summary

Company overview and business model

• Developing a lithium refinery in Muskogee, Oklahoma, targeting up to 50,000 metric tons per year of battery-grade lithium carbonate (BGLC) once fully operational.

• Facility designed for multiple lithium feedstock inputs and aims to be one of the largest lithium refineries in North America.

• Business strategy focuses on site readiness, feedstock sourcing, and securing offtake agreements for BGLC.

• Mission centers on supporting U.S. energy independence and national security through sustainable lithium production.

Financial performance and metrics

• As of April 7, 2026, market value of outstanding common stock held by non-affiliates is approximately $17.6 million, based on 6,556,897 shares at $2.68 per share.

• Approximately 9,966,473 shares of common stock outstanding as of March 24, 2026.

• Auditors have raised substantial doubt about the company's ability to continue as a going concern.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as described in the applicable prospectus supplement for each offering.