Stardust Power Inc. (NASDAQ:SDST) ("Stardust Power" or "the Company"), an American developer of battery-grade lithium carbonate, today announced it has executed a Securities Purchase Agreement with a single institutional investor providing for up to $15.0 million in senior secured convertible debt financing to support early-stage construction activities at its lithium refinery project in Muskogee, Oklahoma.

The facility includes an initial $4.0 million drawdown and provides the Company with flexible capital to advance detailed engineering, infrastructure, and procurement activities as it progresses toward construction. The financing has a 24-month term, includes an initial repayment moratorium, and provides the Company with the option to repay the facility in cash or common stock. The facility is intended to support near-term development activities and may serve as bridge financing as the Company advances toward project-level construction financing.