Lithium Refiner Stardust Power to Go Public Via Merger With SPAC

Stardust Power Inc., a lithium refiner developing a facility in Oklahoma, has agreed to go public through a merger with Global Partner Acquisition Corp. II.

The proposed transaction has a pro forma enterprise valuation of $490 million, according to a statement confirming a Bloomberg News report. Led by Chief Executive Officer Roshan Pujari, Greenwich, Connecticut-based Stardust Power aims to become a major producer of battery grade lithium products in the US.

Stardust Power plans to use the proceeds from the deal to build a lithium refining facility in Oklahoma that may produce as much as 50,000 metric ...