Stardust Power shares rise 10.12% intraday after securing $10M equity financing facility with B. Riley.

Stardust Power surged 10.12% intraday after announcing a $10.0 million equity facility with B. Riley Principal Capital II, LLC. The agreement allows the company to sell shares at its discretion over three years to fund pre-construction and construction activities for its Oklahoma lithium refinery, working capital, and corporate purposes. The facility includes safeguards like ownership limits and pricing protections, while preserving flexibility to pursue other financing options. CEO Roshan Pujari emphasized the strategic importance of the funding for advancing the lithium project and strengthening the balance sheet. The news, which was widely reported and accompanied by a SEC registration filing, directly addressed the company’s capital needs for its battery-grade lithium carbonate production, aligning with its growth objectives and sustainability focus.