Cortegoso's exit below 5% removes a key activist voice and signals that the insider group is liquidating. The remaining activist (Roshen Pujari) may follow suit. Monitor for further insider selling and any impact on the company's strategic direction or capital raising efforts.
Price Chart
Executive Summary
Pablo Cortegoso filed Amendment No. 3 to his Schedule 13D, reporting that he has ceased to be a beneficial owner of more than 5% of Stardust Power Inc. common stock. He sold 123,614 shares on September 16, 2026, at a weighted average price of $0.1318 per share, reducing his stake to 459,537 shares (0.86% of 53,468,409 shares outstanding). This is the final amendment to his Schedule 13D, signaling a definitive exit from activist-level engagement.
Key Financial Metrics
Key Facts
- Pablo Cortegoso sold 123,614 shares on September 16, 2026, at a weighted average price of $0.1318 per share.
- Post-sale, Cortegoso holds 459,537 shares, representing 0.86% of 53,468,409 shares outstanding.
- This is Amendment No. 3 and the final amendment to the Schedule 13D, as Cortegoso has dropped below the 5% beneficial ownership threshold.
- The sale was executed under a Rule 10b5-1 trading plan adopted on June 17, 2026.
- Prior amendments (April 3, 2026) were filed by both Cortegoso and Roshen Pujari, indicating a coordinated activist group that is now unwinding.
Financial Impact
Sale of 123,614 shares at ~$0.1318/share for gross proceeds of approximately $16,292. Cortegoso's remaining stake is valued at roughly $60,567 at the sale price.
Risk Factors
- Loss of activist oversight could reduce pressure for operational improvements or strategic alternatives.
- Continued insider selling may signal deteriorating confidence in the company's prospects.
- The company's ability to raise capital or execute its business plan may be impaired without activist engagement.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001493152-26-045571 |
| Document: 0001493152-26-045571-index.html | 0001493152-26-045571 |
| Document: 0001493152-26-045571.txt | 0001493152-26-045571 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $0.0200 | awaiting T+20 | — | $0.006000 (+70.00%) |
Oct 2, 2026 24d ago | SC 13D/A | $0.0916 | awaiting T+20 | — | $0.006000 (+93.45%) |
Oct 2, 2026 24d ago | SC 13D/A | $0.0916 | awaiting T+20 | — | $0.006000 (+93.45%) |
Sep 22, 2026 4w ago | 424B5 | $0.1160 $0.0180 | ▲ +84.48% | ▲ +85.17% | $0.006000 (+94.83%) |
Sep 22, 2026 4w ago | 8-K | $0.1160 $0.0180 | ▲ +84.48% | ▲ +85.17% | $0.006000 (+94.83%) |
Sep 17, 2026 5w ago | 8-K | $0.1250 $0.0298 | ▲ +76.16% | ▲ +76.36% | $0.006000 (+95.20%) |
Aug 13, 2026 10w ago | Press Release | $0.6724 $0.1360 | ▲ +79.77% | ▲ +77.78% | $0.006000 (+99.11%) |
Aug 11, 2026 10w ago | 8-K | $0.7100 $0.1580 | ▼ −77.75% | ▼ −76.69% | $0.006000 (−99.15%) |
Aug 5, 2026 11w ago | 8-K | $0.6307 $0.2525 | ▼ −59.97% | ▼ −59.36% | $0.006000 (−99.05%) |
Jul 2, 2026 16w ago | 8-K | $1.70 $0.7351 | ▼ −56.76% | ▼ −56.34% | $0.006000 (−99.65%) |
US Market Status
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