EXCLUSIVE: Lithium Refiner Stardust Power Expects SPAC Deal Completion In June
Portfolio Pulse from Matt Whittaker
Stardust Power, a lithium refining company, is set to go public on the Nasdaq in June through a $490 million SPAC deal with Global Partner Acquisition Corp II (NASDAQ: GPAC). The company is building a lithium refinery in Oklahoma and aims to produce up to 50,000 metric tons of battery-grade lithium. The SPAC deal comes amid fluctuating lithium prices and growing EV demand. Stardust is also developing upstream lithium supply lines and has agreements with Usha Resources Ltd. (OTC: USHAF) and QX Resources Ltd.
May 21, 2024 | 7:53 pm
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Global Partner Acquisition Corp II (NASDAQ: GPAC) is involved in a $490 million SPAC deal with Stardust Power, expected to close in June. This deal will result in Stardust Power being listed on the Nasdaq.
The SPAC deal with Stardust Power is a significant event for GPAC, likely to positively impact its stock price as the deal completion approaches.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Usha Resources Ltd. (OTC: USHAF) has signed a letter of intent with Stardust Power, granting Stardust the right to earn up to a 90% interest in Usha's Jackpot Lake lithium brine project.
The agreement with Stardust Power could enhance Usha Resources' project development and future revenue potential, positively impacting its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70