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Possible new Stardust Power shares

SDSTDilution

Known so far: no new shares from the prospectus covers read · shelf room about $3.3M · not yet read: warrants, converts, options, ATM.

Shelf room

  • Room today about $3.3M, maybe lower
  • One third of float $3.3M ($9.8M float, Jun 30, 2025)
  • Sold off it, 12 months nothing
How this is worked out

Shelf room about $3.3M on the S-3 of Apr 9, 2026: the baby-shelf rule (public float under $75M) caps sales at one third of the $9.8M public float stated as of Jun 30, 2025, $3.3M, nothing sold off it in the last 12 months; 4 more sales off the shelf with no size read, so the room may be lower. Sources: S-3 Apr 9, 2026, effective Apr 16, 2026 · public float, as of Jun 30, 2025 · 424B2 Apr 20, 2026 · 424B5 May 8, 2026 · 424B5 Sep 18, 2026 · 424B5 Sep 22, 2026.

What could become new Stardust Power (SDST) shares, from its 10-Q, 10-K, S-3 or 424B filings.

Read so far: the cover share count (14M shares, +66% from 8.5M on Aug 12, 2025, adjusted for the 1-for-10 reverse split by Nov 12, 2025). Not read yet: warrants, convertible notes, options and RSUs and an ATM program. Read them on EDGAR: the latest 10-Q · S-3 shelf filings.

Financing terms to know

  • Warrant price reset. The warrant exercise price can reset lower on a later date or issuance

    Ex. 10.4, 8-K filed Oct 30, 2025

    Holder does not hold, directly, indirectly or otherwise, (a) any warrants or any other convertible securities, or (b) any securities that have purchase price or exercise price reset features (including any applicable reset based on the trading prices of our Common Stock or upon a specified or contingent event in the future).

Each term is quoted from the exhibit it comes from; numbers are as stated in the filing. A flag describes a financing term. It is not investment advice.

Shares outstanding

14.0M

Nov 2024 to Aug 2026: from 4.8M to 14.0M. Adjusted for the 1-for-10 reverse split by Nov 12, 2025: each earlier count is divided by the ratio of every split after it.

From the share count on the cover of each 10-Q and 10-K, dated as each cover states.