Dec. 24 at 7:32 PM
Stardust Power said it secured up to
$15 million in convertible debt financing to fund early-stage construction activities at its lithium refinery project in Oklahoma. The company entered into a securities purchase agreement with a single institutional investor, including an initial
$4 million draw, to support detailed engineering, infrastructure, and procurement work ahead of construction at the Muskogee site.
The 24-month senior secured convertible debt features an initial repayment moratorium and gives Stardust the option to repay in cash or common shares. Management described the financing as a flexible bridge facility while the company works to secure full project-level funding. Stardust plans to fund construction of its planned 50,000-metric-ton-per-year lithium refinery through a mix of equity and asset-level debt, aiming to limit shareholder dilution and maximize long-term value.
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