24/7 Market News Snapshot 24 January, 2025 – Stardust Power Inc. Common Stock (NASDAQ:SDST)

January 24, 2025

DENVER, Colo., 24 January, 2025 (247marketnews.com) – (NASDAQ:SDST) are discussed in this article.
Stardust Power Inc. (SDST) is demonstrating a promising bullish trend, trading at $1.350 in pre-market activities, marking a notable 9.76% increase from the prior closing price of $1.230. The trading volume has reached 1.26 million shares, reflecting strong investor engagement. This upward movement in stock price signals a positive market sentiment, likely influenced by recent developments, including the announcement of a successful public offering aimed at fueling the company’s growth.

The public offering comprises up to 4,792,000 shares of common stock, accompanied by warrants to purchase an equivalent number of shares, all priced at a combined rate of $1.20 per unit. This initiative is expected to generate approximately $5.75 million in gross proceeds, dependent on market conditions. Roshan Pujari, the company’s Founder and CEO, expressed optimism regarding this financing round, underscoring the backing from a notable institutional investor. He stated, “This capital enables us to maintain stability as we progress towards the Final Investment Decision (FID) for our central lithium refinery,” reinforcing the commitment to executing the strategic business plan effectively.

With the anticipated closing date set for January 27, 2025, subject to standard closing conditions, the funds raised will be strategically allocated toward working capital, general corporate purposes, and existing obligations under certain promissory notes. Stardust Power aims to position itself as a leader in sustainable energy solutions by developing a lithium refinery with the capacity to produce up to 50,000 metric tons per annum of battery-grade lithium. This initiative aligns with the increasing demand for sustainable practices and energy storage solutions, illustrating Stardust Power’s commitment to innovation and resilience in the energy sector.

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