Stardust Power Inc. secured $15.0 million in senior secured convertible debt financing from an institutional investor for its lithium refinery project in Muskogee, Oklahoma.
The financing provides capital for early-stage construction activities, with an initial $4.0 million drawdown.
The facility has a 24-month term, repayment moratorium, and the option for repayment in cash or common stock, aiming to support near-term development activities and serve as bridge financing.
Secured $15.0 Million Financing
Stardust Power secured senior secured convertible debt financing for its lithium refinery project.
Flexible Capital for Construction
The financing offers flexible capital to advance detailed engineering, infrastructure, and procurement activities.
Options for Repayment
The facility provides the Company with the option to repay in cash or common stock, aligning with upcoming project milestones.
- The financing marks a crucial step for Stardust Power as it prepares for construction activities at the Muskogee project.
- It allows the company to build a robust capital stack with flexibility and shareholder value in mind, minimizing public equity dilution.
Stardust Power's secured financing sets the stage for the construction of its lithium refinery in Oklahoma, highlighting the company's commitment to sustainable energy solutions and strategic development.