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A convertible note is a loan structured so the lender can collect company stock instead of cash when certain conditions are met. That option was exercised against Stardust Power Inc.
(Nasdaq: SDST) on August 17, 2026, when lender Lind Global Asset Management XIII LLC formally notified the company it would convert $150,000 of outstanding principal into common stock. The shares arrived two days later.
On August 20, 2026, Stardust Power issued 304,878 shares to Lind at a conversion price of $0.492 per share. The company collected no cash from the transaction.
What put Lind in a position to convert The original loan dates to December 23, 2025. That is when Stardust Power issued Lind a Senior Secured Convertible Promissory Note with an original principal amount of $4,800,000.
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