Lind Converts $150K of Defaulted Note at $0.492, Issuing 304,878 Shares
SDST sits 22% above its 52-week low of $0.5.
Summary
Lind Global converted $150,000 of its defaulted note into 304,878 shares at $0.492, the first actual dilution from the previously disclosed default.
Key Events · Financing and Capital Events · SDST
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First Conversion Under Default
Lind Global converted $150,000 of the defaulted 2025 Convertible Note at $0.492 per share, receiving 304,878 shares on August 20, 2026.
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Dilution Impact
The conversion increased total shares outstanding to 14,523,933, representing approximately 2.1% dilution from this single conversion.
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Remaining Exposure
$3,430,000 of principal remains outstanding under the note, and Lind may convert additional amounts at any time during the default period.
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No Cash Proceeds
The company received no cash from the conversion; it was an exchange with an existing security holder under Section 3(a)(9).
Analysis · SDST · Manufacturing
Stardust Power's lender Lind Global has begun converting its defaulted convertible note into equity. The first conversion of $150,000 at $0.492 per share resulted in 304,878 new shares, increasing the share count to 14,523,933. This is the first actual dilution from the previously disclosed default, and it signals that Lind is exercising its conversion rights rather than demanding cash repayment. With $3.43 million still outstanding and the company's market cap near $8.7 million, further conversions could significantly dilute existing shareholders.
How filings like this one have moved
In the 30 days to Oct 20, 2026, 29.2% of the 1466 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SDST was trading at $0.61 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $8.7M. The 52-week trading range was $0.50 to $7.67. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.