Stardust Power (SDST) said Wednesday that it has closed its previously announced underwritten public offering of 21.5 million common shares at $0.20 apiece, raising about $4.3 million.
The company granted Aegis Capital a 45-day option to purchase up to 3.2 million additional shares to cover over-allotments, if any.
Stardust Power said it expects to use the proceeds to complete the definitive feasibility study for its planned lithium processing facility in Oklahoma.
Shares of Stardust Power were up more than 5% in recent Wednesday trading.
Price: 0.19, Change: +0.01, Percent Change: +4.73
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.