Stardust Power Upsizes ATM to $8.99M as Cash Dwindles to $0.5M
SDST sits 67% above its 52-week low of $0.113 on elevated volume (52× avg).
Summary
Stardust Power amended its ATM program to raise the maximum offering amount from $5M to $8.99M, having already sold nearly all of the original limit. The company is selling shares near all-time lows to fund operations amid a cash crunch, Nasdaq delisting threat, and a defaulted convertible note.
Key Events · Financing and Capital Events · SDST
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ATM Upsized to $8.99M
Amendment No. 1 increases the maximum offering amount under the existing B. Riley ATM Sales Agreement from $5,000,000 to $8,990,537.
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Original $5M Nearly Exhausted
Company has sold $4,999,985 of securities under General Instruction I.B.6 in the prior 12 months, leaving only ~$15 of the original limit.
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Selling at $0.16 Per Share
Last reported sale price on Nasdaq was $0.16 on September 16, 2026, below today's $0.1887 — shares are being sold into a declining market.
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Cash Crunch Context
Q2 2026 cash was $0.5M, down from $3.5M at year-end, with a net loss of $3.9M. The company also faces a defaulted Lind convertible note (~$4.22M owed) and a Nasdaq minimum bid price deficiency.
Analysis · SDST · Manufacturing
Stardust Power has amended its existing at-the-market offering to nearly double the maximum amount it can sell — from $5 million to $8.99 million. The company has already sold essentially the entire original $5 million limit, and this amendment allows continued drip-feed dilution at a time when cash has fallen to roughly $0.5 million and the company faces a Nasdaq delisting notice and a defaulted convertible note. The offering price of $0.16 per share on September 16 is below today's $0.1887, meaning the company is selling into weakness to fund operations. This is survival financing, not growth capital.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.5% of the 1626 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 $0.19 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.7M. The 52-week trading range was $0.11 to $7.67. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.