Stardust Power expands ATM capacity by $6.1 million

Stardust Power Inc. (Nasdaq: SDST) filed an amendment to its at-the-market sales agreement, increasing the maximum issuable shares under the facility by an additional $6,076,872. The filing, dated September 22, 2026, updates the prospectus supplement for the common stock program managed by B. Riley Securities, Inc. The next milestone for the setup is the execution of these additional Placement Shares in the open market, which will determine how much the company can draw down on this specific capacity before the next amendment.

The Operational Capacity Update

The core of the 8-K is the mechanical expansion of the equity issuance channel. The company, incorporated in Delaware and headquartered in Greenwich, Connecticut, is utilizing a registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on April 16, 2026. This specific amendment, labeled Amendment No. 2, adds to the volume available under the At Market Issuance Sales Agreement originally dated May 8, 2026. The program relies on the common stock, which carries a par value of $0.0001 per share. The amendment also references a prior Amendment No. 1 dated September 17, 2026, indicating a recent sequence of updates to the program's terms. The legal opinion supporting the validity of these Placement Shares is provided by Thompson Hine LLP, filed as Exhibit 5.1 to the report.

What To Watch Next

For the tape, the immediate focus is on the utilization of this new headroom. The company is designated as an emerging growth company, a status that affects its compliance timeline for new accounting standards, though it has not elected to use the extended transition period. The shares are traded on the Nasdaq Capital Market alongside the company's redeemable warrants, which allow for the purchase of one share of common stock at an exercise price of $115.00 per ten warrants. The definitive confirmation of this expansion is the 8-K itself, which serves as the current report for the event. Investors should monitor the order book for any shift in supply as the company begins to tap into this additional $6.1 million of authorized equity capacity. The filing does not specify a target completion date for the sale of all available shares, leaving the pace of issuance to market conditions and the company's capital allocation needs.