COMMON STOCK (Details Narrative) - USD ($) |
3 Months Ended | 10 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|
Oct. 07, 2024 |
Mar. 15, 2023 |
Mar. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2024 |
Jul. 08, 2024 |
|
Class of Stock [Line Items] | ||||||
Common stock, shares authorized | 69,033,000 | 700,000,000 | ||||
Preferred stock, shares authorized | 100,000,000 | |||||
Ordinary shares, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||
Common stock, shares issued | 41,499,772 | 47,736,279 | ||||
Common stock, shares outstanding | 41,499,772 | 47,736,279 | 47,736,650 | |||
Issuance of common stock | $ 90 | $ 268,998 | ||||
Share Price | $ 10.00 | |||||
Finance charges | 6,807,702 | |||||
Commitment shares | 3 | |||||
Net proceeds | 87 | 260,927 | ||||
Make whole obligation | 272,011 | |||||
Net proceeds | 10,075,002 | |||||
Purchase Agreement [Member] | ||||||
Class of Stock [Line Items] | ||||||
Issuance of common stock | $ 50,000,000 | |||||
Common stock purchase agreement | Under the applicable NASDAQ rules, the Company may not issue to B. Riley Principal Capital II, LLC under the Purchase Agreement more than 9,569,701 shares of common stock, which number of shares is equal to 19.99% of the common shares outstanding immediately prior to the execution of the Purchase Agreement unless certain exceptions are met (the “Exchange Cap”). The purchase price of the shares of common stock will be determined by reference to the VWAP of the common stock during the applicable purchase date, less a fixed 3% discount to such VWAP. Additionally, B. Riley Principal Capital II, LLC cannot acquire shares that would result in its beneficial ownership exceeding 4.99% of Stardust Power’s outstanding shares. The Exchange Cap does not apply if the average share price exceeds $7.7020 per share but will remain in place if this threshold is not met and stockholder approval is not obtained. The Company evaluated this common stock purchase agreement to determine whether they should be accounted for considering the guidance in ASC 815-40, “Derivatives and Hedging - Contracts on an Entity’s Own Equity” (“ASC 815-40”) and concluded that it is an equity-linked contract that does not qualify for equity classification, and therefore requires fair value accounting as a derivative. The Company has analyzed the terms of the freestanding purchased put right and has concluded that it had insignificant value as of December 31, 2024. | |||||
Purchase And Registration Rights Agreement [Member] | ||||||
Class of Stock [Line Items] | ||||||
Shares issued | 63,694 | |||||
Share Price | $ 7.85 | |||||
Commitment shares | $ 50,000,000 | |||||
Finance charges | 500,000 | |||||
Commitment shares | 500,000 | |||||
Legal fees | 75,000 | |||||
Paid upfront | 25,000 | |||||
Paid up front with held | $ 50,000 | |||||
Purchase And Registration Rights Agreement [Member] | B Riley [Member] | ||||||
Class of Stock [Line Items] | ||||||
Legal fees | $ 5,000 | |||||
Purchase And Registration Rights Agreement [Member] | B Riley [Member] | ||||||
Class of Stock [Line Items] | ||||||
Ownership percentage | 50.00% | |||||
Purchase And Registration Rights Agreement [Member] | B Riley [Member] | ||||||
Class of Stock [Line Items] | ||||||
Commitment shares | $ 227,989 | |||||
Net proceeds | 500,000 | |||||
Proceeds from issuance of common stock above | 500,000 | |||||
Commitment fee value | 500,000 | |||||
Make whole obligation | 272,011 | |||||
Purchase agreement fully with held | $ 50,000 | |||||
Purchase And Registration Rights Agreement [Member] | B Riley [Member] | Minimum [Member] | ||||||
Class of Stock [Line Items] | ||||||
Commitment fee value | $ 500,000 | |||||
Common Stock Purchase Agreement [Member] | ||||||
Class of Stock [Line Items] | ||||||
Shares issued | 55,826 | |||||
Net proceeds | $ 260,927 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares issued | 618,626 | |||||
Common stock, shares outstanding | 618,626 | |||||
Common Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares issued | 47,736,279 | |||||
Common stock, shares outstanding | 47,736,279 |