Kirkland & Ellis is advising publicly traded special purpose acquisition company Global Partner Acquisition Corp. II (Nasdaq: GPAC) on its business combination with battery-grade lithium products manufacturer Stardust Power Inc, which will result in Stardust becoming a publicly listed company on Nasdaq under the ticker symbol “SDST.” The pro forma enterprise value of Stardust Power is expected to be $490 million. Stardust’s existing owners and management are rolling all of their interests into the combined company. Stardust Power’s strategy is to become a leading producer of battery grade lithium products in the United States and plans to build a large central refinery in Oklahoma. GPAC II is led by executives of investment firm Antarctica Capital.
The Kirkland team includes corporate partners Lauren Colasacco, Jennifer Gasser and associates Christian Mahre, Haley Steinman and Josh Jones; capital markets partners Anne Peetz and Peter Seligson and associate Samantha Siegler; and tax partners Benjamin Schreiner, Vivek Ratnam and Rory Minnis.