- Stardust Power Closes Business Combination Agreement with Global Partner Acquisition Corp II
- Stardust Power set to begin trading on Nasdaq under the ticker symbol "SDST"
GREENWICH, Conn., July 08, 2024 (GLOBE NEWSWIRE) -- Stardust Power Inc. ("Stardust Power" or the "Company"), a development stage American manufacturer of battery-grade lithium products, today announced that it has completed its business combination (the "Business Combination") with Global Partner Acquisition Corp II ("GPAC II") (NASDAQ:GPAC, GPACW, GPACU)), a publicly traded special purpose acquisition company. GPAC II shareholders approved the business combination at a special meeting held on June 27, 2024. Beginning July 9, 2024, Stardust Power's shares of Class A common stock and public warrants will trade on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "SDST" and "SDSTW," respectively.
The Business Combination marks a significant step in Stardust Power's evolution, propelling the Company into the public markets as a development stage battery-grade lithium manufacturer. As a result of the completed transaction, the Company expects to advance the development and construction of its lithium refinery, planned to be strategically located in Muskogee, Oklahoma. Expected to produce up 50,000 tonnes per annum of battery-grade lithium, Stardust Power is dedicated to becoming a leading U.S. producer of battery-grade lithium, while leveraging proven DLE technologies and planning to power its facility largely using sustainable local sources, including solar and wind power.
"Completing our merger and commencing trading on the Nasdaq is another achievement for Stardust Power. This milestone further improves our ability to execute our business plan allowing Stardust Power to help continue America's energy leadership," said Roshan Pujari, Founder and CEO of Stardust Power. "We are excited to ...