SDST 8-K
Stardust Power Inc. (SDST)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
As previously reported, on December 23, 2025, Stardust Power Inc. (the “Company”) issued to Lind Global Asset Management XIII LLC (“Lind”) a Senior Secured Convertible Promissory Note in the original principal amount of $4,800,000 (the “2025 Convertible Note”) pursuant to a Securities Purchase Agreement, dated December 23, 2025, between the Company and Lind, as described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 31, 2025. As previously disclosed in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 (the “Q2 Form 10-Q”), the Company determined that its market capitalization had been below $15.0 million for ten consecutive trading days, resulting in an event of default under the 2025 Convertible Note (the “Triggering Event”). During the continuance of the Triggering Event, Lind may, among other remedies, require conversion of all or a portion of the outstanding principal amount of the 2025 Convertible Note into shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), subject to the terms and conditions of the 2025 Convertible Note.
On August 17, 2026, Lind delivered to the Company a notice of conversion and default under the 2025 Convertible Note, electing to convert $150,000 of the outstanding principal amount of the 2025 Convertible Note at a conversion price of $0.492 per share, in accordance with the terms of the agreement. In accordance with the terms of the 2025 Convertible Note, on August 20, 2026, the Company issued to Lind 304,878 shares of Common Stock (the “Conversion Shares”) in satisfaction of the converted principal amount. After giving effect to the conversion, $3,430,000 in aggregate principal amount remained outstanding under the 2025 Convertible Note, and the Company had 14,523,933 shares of Common Stock issued and outstanding. The foregoing outstanding principal amount does not reflect the mandatory default amount or any other additional amounts that may become due and payable as a result of the event of default described above.
The Conversion Shares were issued in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), afforded by Section 3(a)(9) of the Securities Act, as an exchange by the Company exclusively with an existing security holder, where no commission or other remuneration was paid or given, directly or indirectly, for soliciting such exchange. The Company did not receive any cash proceeds from the issuance of the Conversion Shares.
The descriptions of the Triggering Event and its consequences, and of the 2025 Convertible Note, set forth herein do not purport to be complete and are qualified in their entirety by reference to the disclosures contained in the Q2 Form 10-Q and to the full text of the 2025 Convertible Note, which was filed as Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on December 31, 2025, and is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 21, 2026 | STARDUST POWER INC. |
| /s/ Roshan Pujari | |
| Roshan Pujari | |
| Chief Executive Officer |