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Dilution profile // every instrument, one screen, from SEC filings

Stardust Power Inc. (SDSTW)

CIK 1831979 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$100M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
HIGHwarrants = 74% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-71% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
HIGH~0.8 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2021-03-052026-08-12

Latest: 14.0M shares as of Aug 12, 2026 (10-Q). Share count fell from 84.6M to 9.8M between Aug 12, 2025 and Nov 12, 2025, a pattern consistent with a reverse split (roughly 1-for-9); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 10.4M underlying shares, as reported Jun 30, 2026 (10-Q).

Reported exercise price: $115 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 24.5M = 14.0M O/S + 10.4M warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Two Thousand Twenty Five Convertible Note$4.1M$3.2M$5.837—~698,989 sh
IGX Minerals LLCnot tagged$182,481not tagged——

If every note above converted at its tagged price: ~698,989 new shares on 14.0M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Aug 13, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding14.0MAug 12, 2026
+ Warrants (aggregate, as tagged) (if exercised)10.4MJun 30, 2026
+ Two Thousand Twenty Five Convertible Note (if fully converted)698,989Jun 30, 2026
Fully diluted estimate25.2M+79.2% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $100.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Apr 9, 2026$100.0M registeredfiling →

Last 12 months: 7 executed · 3 registered.

UPDATEMay 20, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMay 20, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMay 20, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
UPDATEMay 20, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EXECUTEDMay 8, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDApr 20, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EFFECTIVEApr 17, 2026SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEApr 17, 2026SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEApr 16, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDApr 9, 2026S-3 registration — capacity to sell shares, not a sale yetS-3 →
WITHDRAWNApr 8, 2026Registration withdrawnRW →
UPDATEApr 7, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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