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Stardust Solar Announces Non-Brokered Private Placement of Secured Senior Convertible Debenture Units
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES - Vancouver, Bri...
About this update from Stardust Solar Energy Inc.
[{"type":"text","content":"Stardust Solar Announces Non-Brokered Private Placement of Secured Senior Convertible Debenture Units- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -Vancouver, British Columbia--(Newsfile Corp. - February 2, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (\"Stardust Solar\" or the \"Company\"), a leading provider of residential solar energy solutions, is pleased to announce, that it will proceed with a non-brokered private placement of up to 1,500 senior secured convertible debenture units of the Company (each, a \"Debenture Unit\") for aggregate gross proceeds of up to $1,500,000, led by Plaza Capital (the \"Lead Investor\"), at a price of $1,000 (the \"Funded Amount\") per Debenture Unit (the \"Offering\"). Each Debenture Unit will consist of: (i) one senior secured convertible debenture of the Company having a principal value of $1,020 (each, a \"Debenture\"); and (ii) 6,800 common share purchase warrants (each, a \"Warrant\").The Debentures will mature on the date that is 24 months following the closing of the Offering (the \"Maturity Date\") and will bear interest at a rate of 10% per annum, and which is to be paid in cash on the last business day of each month. Upon any event of default, the Debentures will bear interest at an increased rate of 25% per annum. The Funded Amount of the Debentures will be convertible into Common Shares at a price of $0.15 per Common Share (the \"Conversion Price\") at the option of the holder at any time. The obligations under the Debentures will be collaterally secured by a general security agreement from the Company over all the present and after acquired property of the Company, guarantees from the Company's subsidiaries, Stardust Solar Holdings Inc., Stardust Solar Franchise Inc., Stardust Solar Technologies Inc., and Stardust Solar Technologies USA, LLC (collectively, the \"Guarantors\"), and a pledge of shares from the Company for any securities held by the Company in the Guarantors.Each Warrant will entitle the holder thereof to purchase one common share in the capital of the Company (each, a \"Common Share\") at a price of $0.21 (the \"Exercise Price\") for a period of 24 months following the closing of the Offering.The Conversion Price and the Exercise Price are subject to adjustment upon the occurrence of certain events, subject to comp...