The filing signals ongoing equity dilution risk as the company continues to tap the at-market facility to raise capital. With the stock trading near $0.127 and the company having already sold $5.8 million in the past 12 months, further sales could pressure the stock price. Monitor subsequent filings for actual sales under this amendment and any updates on the company's cash position or operational milestones.
Price Chart
Executive Summary
Stardust Power Inc. filed Amendment No. 2 to its prospectus supplement, updating the maximum amount of common stock it may sell under its existing at-market issuance sales agreement with B. Riley Securities. The company can now offer up to $6,076,872 in additional shares, constrained by General Instruction I.B.6 of Form S-3 and its current public float of approximately $20.1 million. The stock closed at $0.127 per share on September 21, 2026, and the company has already sold $5,793,011 of securities under this instruction in the prior 12 months.
Key Facts
- Stardust Power may sell up to $6,076,872 in additional common stock through B. Riley Securities under an at-market issuance sales agreement.
- The offering is limited by General Instruction I.B.6 of Form S-3, which caps primary offerings at one-third of public float ($20,067,410) in any 12-month period.
- The company has already sold $5,793,011 of securities under this instruction in the prior 12 months.
- As of September 22, 2026, the company had 40,577,021 shares outstanding, with 38,102,677 held by non-affiliates.
- The last reported sale price on September 21, 2026, was $0.127 per share.
- The stock trades on the Nasdaq Capital Market under the symbol SDST.
Financial Impact
Potential dilution of up to $6,076,872 in new common stock sales, representing approximately 30% of the current public float of $20,067,410. At the current price of $0.127 per share, this could add up to approximately 47.8 million new shares, increasing the share count by over 100%.
Risk Factors
- Significant dilution to existing shareholders if the full $6.1 million is sold at current low prices.
- Stock price may face continued downward pressure from the overhang of potential at-market sales.
- The company's ability to raise additional capital may be constrained by the one-third-of-public-float limit, potentially forcing more dilutive or alternative financing.
- Low stock price ($0.127) increases the risk of Nasdaq delisting if the bid price remains below $1.00 for 30 consecutive trading days.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001493152-26-043736 |
| Document: 0001493152-26-043736-index-headers.html | 0001493152-26-043736 |
| Document: 0001493152-26-043736-index.html | 0001493152-26-043736 |
| Document: 0001493152-26-043736.txt | 0001493152-26-043736 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $0.0200 | awaiting T+20 | — | $0.006600 (+67.00%) |
Oct 2, 2026 24d ago | SC 13D/A | $0.0916 | awaiting T+20 | — | $0.006600 (+92.79%) |
Oct 2, 2026 24d ago | SC 13D/A | $0.0916 | awaiting T+20 | — | $0.006600 (+92.79%) |
Sep 22, 2026 4w ago | 424B5 | $0.1160 $0.0180 | ▲ +84.48% | ▲ +85.17% | $0.006600 (+94.31%) |
Sep 22, 2026 4w ago | 8-K | $0.1160 $0.0180 | ▲ +84.48% | ▲ +85.17% | $0.006600 (+94.31%) |
Sep 17, 2026 5w ago | 8-K | $0.1250 $0.0298 | ▲ +76.16% | ▲ +76.36% | $0.006600 (+94.72%) |
Aug 13, 2026 10w ago | Press Release | $0.6724 $0.1360 | ▲ +79.77% | ▲ +77.78% | $0.006600 (+99.02%) |
Aug 11, 2026 11w ago | 8-K | $0.7100 $0.1580 | ▼ −77.75% | ▼ −76.69% | $0.006600 (−99.07%) |
Aug 5, 2026 11w ago | 8-K | $0.6307 $0.2525 | ▼ −59.97% | ▼ −59.36% | $0.006600 (−98.95%) |
Jul 2, 2026 16w ago | 8-K | $1.70 $0.7351 | ▼ −56.76% | ▼ −56.34% | $0.006600 (−99.61%) |
US Market Status
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