Market Newsdesk

GREENWICH, Conn., April 20, 2026 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium carbonate, today announced that it has entered into a Letter of Intent (the “LOI”) with a single institutional investor to support project level financing for its planned lithium refinery in Muskogee, Oklahoma.

Under the terms of the LOI, the institutional investor has indicated its intent to invest up to $150 million at the project level, with flexibility across equity, debt, and hybrid financing structures. The investment is expected to be made as we continue to secure funding from other investors, and it will help us develop our long-term capital plans. Structuring the investment at the asset level is expected to reduce dilution for public shareholders while supporting the establishment of a transparent, market-driven valuation for the refinery.

The LOI represents a meaningful step in advancing the project’s capital stack and provides increased visibility into financing for the construction of the Company’s lithium refinery. It also reflects growing institutional interest in American lithium refining infrastructure and reinforces the project’s positioning as a viable, financeable asset within the evolving domestic battery materials supply chain.

Roshan Pujari, Founder and Chief Executive Officer of Stardust Power, commented: “This LOI is an important step as we gear up to build this critical piece of national infrastructure. Establishing the capital stack at the project level is a key milestone, and we believe it reflects growing recognition from institutional investors that our refinery is both viable and strategically positioned. As we progress discussions with additional partners, our focus remains on structuring a disciplined and competitive financing package aligned with long-term value creation.”

Stardust Power is currently advancing its lithium refinery project in Muskogee, Oklahoma, designed to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate at full capacity, to be developed in two phases of approximately 25,000 metric tons per annum each. The Company has completed a FEL-3 engineering study and secured key permits, including the air permit from the Oklahoma Department of Environmental Quality, enabling construction and commissioning to start upon financing. Recent milestones include third-party engineering validation, additional feedstock supply agreements, and continued progress on project-level financing discussions.

The agreement is non-binding and outlines a framework for a potential investment of up to $150 million at the project level, including the ability to support the financing through syndication and direct capital participation. The parties have also agreed to proceed through customary due diligence and negotiation of definitive agreements.

About Stardust Power Inc.

Stardust Power is a developer of battery-grade lithium carbonate designed to bolster America’s energy security through resilient supply chains. The Company plans to build a strategically located lithium refinery in Muskogee, Oklahoma, with the capacity to produce up to 50,000 metric tons of battery-grade lithium carbonate annually. Committed to sustainability at every stage, Stardust Power trades on Nasdaq under the ticker “SDST.”

For more information, visit www.stardust-power.com

Stardust Power Contacts 
For Investors:
Johanna Gonzalez
[email protected]

For Media:
Michael Thompson
[email protected]

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions, plans, objectives, goals, prospects, financial results or strategies regarding us and the future held by our management team and the products and markets, future events, future financial condition, expected future revenues or performance, financing needs, our ability to continue as a going concern, business trends and market opportunities of our business, as well as statements regarding the expected capital expenditures, risks, production level, produced lithium quality, project design, feedstock supply, financing arrangements, final investment decision, development, construction, permits and related timelines with respect to the Company’s Muskogee lithium refinery. These forward-looking statements are based on management’s current beliefs and assumptions, based on currently available information, as to the outcome and timing of future events. Forward-looking statements may be identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical fact, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon beliefs, assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these beliefs and judgments are reasonable, but these statements are not guarantees of any future events, financial results or outcomes, or the timing of such. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events, results, outcomes and circumstances, and the timing thereof, are difficult or impossible to predict and may differ from our beliefs, assumptions or predictions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including the ability of Stardust Power to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the price of Stardust Power’s securities, including volatility resulting from recent sales of securities, issuance of debt, and exercise of warrants, changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; the regulatory environment and our ability to obtain necessary permits and other governmental approvals for our operation; Stardust Power’s need for substantial additional financing to execute our business plan and our ability to access capital and the financial markets; worldwide growth in the adoption and use of lithium products; the Company’s ability to enter into and realize the anticipated benefits of offtake and license and other commercial agreements; risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; the substantial doubt regarding the Company’s ability to continue as a going concern and the need to raise capital in the near term in order to maintain the Company’s operations; the Company’s continued listing on the Nasdaq; and those factors described or referenced in the Company’s filings with the SEC, including the Company’s Registration Statement on Form S-1 filed with the SEC on February 12, 2026 and Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 25, 2026. The foregoing list of factors is not exhaustive. If any of these risks materialize or our assumptions prove incorrect, actual results, outcomes, performance or achievements, or the timing of such results, outcomes, performance or achievements could differ materially from those expressed or implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results, outcomes, performance or achievements, or the timing of such results, outcomes, performance or achievements to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Rapid Growth Driven by Expanding Freight Network and Strong Enterprise Demand

Fort Lauderdale, FL, April 20, 2026 (GLOBE NEWSWIRE) —
Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME), a leading provider of AI-powered logistics solutions, today announced that SemiCab has surpassed a $12 million annualized revenue run rate (ARR), reflecting continued strong growth in both customer demand and network scale.

This milestone represents a more than 20% increase over the $10 million ARR previously announced in late December 2025. The increase was fueled by new contract wins, contract expansions, expanded lane coverage across existing enterprise customers, and increasing adoption of the platform’s AI-driven orchestration capabilities.

“We are excited with the rapid growth we are experiencing,” said Gary Atkinson, Chief Executive Officer of Algorhythm Holdings. “Surpassing $12 million in ARR just a few months after hitting the $10 million mark is a testament to the power of the SemiCab platform and the clear value it delivers to customers. As more enterprise shippers prioritize network optimization, labor efficiency, and environmental impact, SemiCab is emerging as the right solution at the right time.”

SemiCab has developed a strong reputation for its managed services model in India, with enterprise customers including the India segments of Procter & Gamble, Coca-Cola, Kellanova, and Unilever using its solutions. SemiCab recently launched its Apex SaaS platform for the U.S. and European markets, offering its collaborative freight orchestration model to 3PLs, dedicated fleet operators, and enterprise shippers through a high-margin, asset-light software experience. The platform’s orchestration engine automates freight planning, dispatch, and optimization across hundreds of lanes, enabling scalable operations with minimal overhead.

“Our solutions offer a smarter way to move freight, and our recent customer wins and contract expansions validate the effectiveness of our solutions,” continued Atkinson. “Whether through managed services or software, we’re helping customers reduce empty miles, cut fuel spend, and operate more resilient networks — and our revenue growth reflects the significant impact our solutions are having on our customers.”

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab’s AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: http://www.semicab.com.

Investor Relations Contact

Brendan Hopkins
407-645-5295
[email protected]
www.algoholdings.com

Media Contact

FischTank PR
[email protected]

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as “expects,” “anticipates,” “believes,” “will,” “will likely result,” “will continue,” “plans to,” “potential,” “promising,” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors contained in the company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the other reports the company has filed with the SEC. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of these forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.

• First Tracks Biotherapeutics launches with $180 million in cash and two-year cash-runway
• Trading of TRAX begins on Nasdaq today

SAN DIEGO, April 20, 2026 (GLOBE NEWSWIRE) — First Tracks Biotherapeutics, Inc. (Nasdaq: TRAX) today announced its launch as an independent, publicly traded clinical-stage biotechnology company advancing antibody therapeutics that modulate immune pathways implicated in autoimmune and inflammatory diseases. First Tracks Bio will trade on the Nasdaq Global Select Market, commencing today, under the ticker symbol “TRAX.”

“Today marks the official launch of First Tracks Bio and the start of a bold new chapter focused on developing antibodies for autoimmune diseases, including our lead operating program, ANB033, in development to treat celiac disease and eosinophilic esophagitis,” said Daniel Faga, president and chief executive officer. “We’re energized by the patients, physicians, employees and investors who share and are committed to our vision as we advance therapies built to deliver meaningful impact and long‑term value.”

First Tracks Bio’s initial three development-stage assets will include ANB033, a CD122 antagonist, in a Phase 1b trial for celiac disease and eosinophilic esophagitis; rosnilimab, a pathogenic T cell depleter, which has completed a Phase 2b trial for rheumatoid arthritis; and ANB101, a BDCA2 modulator, in a Phase 1a trial.

The spin-off was completed today following the distribution to AnaptysBio, Inc. shareholders of one share of First Tracks Bio common stock for every one share of Anaptys common stock owned as of the close of business on April 6, 2026, the record date for the distribution.

About First Tracks Biotherapeutics

First Tracks Biotherapeutics is a clinical stage biotechnology company advancing antibody therapies that modulate immune pathways implicated in autoimmune and inflammatory diseases. Its pipeline includes ANB033, a CD122 antagonist in development for celiac disease and eosinophilic esophagitis; rosnilimab, a pathogenic T cell depleter in development for rheumatoid arthritis; and ANB101, a BDCA2 modulator. To learn more, visit www.FirstTracksBio.com or follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to the projected cash runway for the company. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to advance its product candidates, obtain regulatory approval of and ultimately commercialize its product candidates, the timing and results of preclinical and clinical trials, the company’s ability to fund development activities and achieve development goals, the company’s ability to protect intellectual property and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

Investor Contact:

Nick Montemarano
Executive Director, Investor Relations
858.732.0178
[email protected]

Key Highlights

:

• New AudioLuxe by La-Z-Boy^® premium audio furniture line debuts at High Point Market with select availability this fall
• The product line combines an integrated audio experience with the comfort and quality for which La-Z-Boy is known
• Key features, driven by consumer led insights, include Sound by Klipsch, surround sound with audio-visual sync, Auracast™ Bluetooth audio sharing, personalized controls, and La-Z-Boy customizable comfort

MONROE, Mich., April 20, 2026 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, is bringing premium audio to its motion furniture lineup with the debut of AudioLuxe by La-Z-Boy^®, a new product line featuring integrated Klipsch sound systems. The collection makes its industry debut at the April 2026 High Point Market with select availability this fall and leverages La-Z-Boy’s in-house consumer led insights to drive innovation.

AudioLuxe pairs La-Z-Boy’s signature customizable comfort with Sound by Klipsch, delivering crystal clear tones and deep bass vibrations directly through the furniture. The line features speakers and subwoofers built directly into a range of recliners and motion furniture. With modern silhouettes and clean lines, the AudioLuxe line is designed to complement contemporary living spaces.

“At La-Z-Boy Incorporated, we prioritize delivering an unmatched comfort experience through every product,” said Nelly Martínez Garza, Sr. Director of Product Design. “With AudioLuxe, we’re pairing the comfort and quality that La-Z-Boy consumers have trusted for generations with the premium audio performance Klipsch is known for. There’s nothing on the market that provides audio immersion at this level of comfort, and we’re excited for AudioLuxe to make its way into living rooms and home theaters nationwide. The new line further advances La-Z-Boy Incorporated’s Century Vision strategy of expanding brand reach and will be manufactured within our United States manufacturing footprint.”

Premium audio, precisely positioned

AudioLuxe is engineered in partnership with Klipsch, an American audio brand with more than 80 years of innovation in home theater, sound bars, and high-performance speaker systems. Together, the companies have developed an integrated audio experience with speakers and subwoofers positioned for optimal, immersive sound delivery.

“This partnership brings together two American icons with the shared vision to establish a new benchmark for comfort and sound, redefining the way we enjoy entertainment at home,” said Vince Bonacorsi, Chief Operating Officer of Klipsch. “Our advanced audio technologies, refined over the last eight decades, allow the AudioLuxe products to deliver a new level of realism for an embedded audio experience unlike anything currently on the consumer market.”

Key features of the AudioLuxe line include:

• Sound by Klipsch: Wireless speakers and subwoofers by Klipsch are embedded directly into recliners and sofas, delivering sound you can feel
• Surround sound with audio-visual sync: When paired with the Klipsch Flexus Sound System, AudioLuxe furniture enables dynamic, 5.1.2 surround sound powered by Dolby^® Atmos
• Auracast™ Bluetooth audio sharing: Broadcast high-quality audio to each seat by connecting a phone or tablet to an AudioLuxe piece, then sharing the sound to all other Auracast™-enabled seats or speakers in the home
• Personalized controls: Each armrest features integrated controls so users can manage their own audio input and sound level or choose to listen in sync
• La-Z-Boy customizable comfort: AudioLuxe furniture offers fully adjustable back recline, lumbar support, headrests, and legrests, plus integrated storage and fabric and leather cover options

Industry debut at High Point Market

Retail buyers, wholesale customers, and industry partners can experience AudioLuxe in the La-Z-Boy showroom by appointment only at High Point Market beginning April 23, 2026. AudioLuxe will be available in select La-Z-Boy stores, Comfort Studios, Branded Spaces, and other furniture retailers this fall. To book an appointment at the La-Z-Boy showroom, contact: [email protected].

Investor Relations / Media Contact

:

Mark Becks, CFA, (734) 457-9538
[email protected]

About La-Z-Boy

:

La-Z-Boy Incorporated (NYSE: LZB) is a leading vertically integrated retailer and manufacturer of high-quality, custom furniture that transforms the home. Founded on American heritage, the iconic La-Z-Boy brand has been synonymous with comfort, quality, and craftsmanship for nearly 100 years. As an end-to-end enterprise, the company manages every aspect of its business—from retail, manufacturing, and design to distribution and after-service care.

La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations, and its digital platform at La-Z-Boy.com. Within the Wholesale segment, the company manufactures comfortable, high quality, custom furniture, with approximately 90% of its products produced in North America. Its Joybird^® brand is an omnichannel retailer and manufacturer of modern, custom upholstered furniture, operating 15 U.S. stores. With a global team of about 11,000 employees, La-Z-Boy Incorporated was named to TIME’s 2026 list of America’s Most Iconic Companies and Newsweek’s 2025 list of America’s Best Retailers, ranking No. 1 in the furniture category. The company continues to shape the way people live by delivering the transformational power of comfort.

About Klipsch

:

Paul W. Klipsch, inventor, acoustics pioneer and maverick, founded Klipsch Audio with the sole purpose of bringing the power, detail and emotion of the live music experience into his living room. Using highly efficient speaker designs, handcrafted cabinetry and a thirst for real engineering breakthroughs – Klipsch, the great American audio company, was born in Hope, AR. Today, our diverse range of quality audio products includes speakers and headphones for almost any consumer and professional application – including cinema, whole-house, wireless, home theater and portable offerings. Honoring our founder’s legacy, Klipsch continues to be the legendary high-performance brand of choice for audiophiles and aficionados around the world. We are the Keepers of the Sound^®. Klipsch^®, registered in the U.S. and other countries, is a trademark of Klipsch Group, Inc. Klipsch Group, Inc. is a wholly-owned subsidiary of Gentex Corporation (NASDAQ: GNTX).Visit www.klipsch.com for more information.

Cautionary Note Regarding Forward-Looking Statements

:

This news release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Generally, forward-looking statements include information concerning expectations, projections or trends relating to our results of operations, financial results, financial condition, strategic initiatives and plans, acquisitions, divestitures, expenses, dividends, share repurchases, liquidity, use of cash and cash requirements, borrowing capacity, investments, future economic performance, and our business and industry.

The forward-looking statements in this press release are based on certain assumptions and currently available information and are subject to various risks and uncertainties, many of which are unforeseeable and beyond our control. Additional risks and uncertainties that we do not presently know about or that we currently consider to be immaterial may also affect our business operations and financial results. Our actual future results and trends may differ materially depending on a variety of factors, including, but not limited to, the risks and uncertainties discussed in our Fiscal 2025 Annual Report on Form 10-K and other factors identified in our reports filed with the Securities and Exchange Commission (the “SEC”), available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. We are including this cautionary note to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b28eadc-f45c-4356-8795-d2b8eab4660b

• Focused on protecting and returning value of Jemperli and imsidolimab royalties to shareholders
• Launches with virtual model, including limited FTEs and minimal operating expenses, and approximately $140-$145 million in net cash

SAN DIEGO, April 20, 2026 (GLOBE NEWSWIRE) — AnaptysBio, Inc. (Nasdaq: ANAB), a royalty management company, today announced the completion of its spin-off of First Tracks Biotherapeutics, Inc., its former biopharma operations business.

Anaptys will now exclusively manage the financial collaborations for Jemperli with GSK and imsidolimab with Vanda with a focus on protecting and returning the value of its royalties to shareholders.

“Anaptys begins this next chapter in a virtual business model. We are now exclusively managing royalties from our out-licensed assets, Jemperli and imsidolimab, with streamlined operations requiring limited FTEs, minimal operating expenses and providing a greater than 95% EBIT margin,” said Daniel Faga, president and chief executive officer. “This structure positions us to operate without complexity and deliver maximum value to shareholders.”

The taxable spin-off was completed today following the distribution to Anaptys shareholders of one share of First Tracks Bio common stock for every one share of Anaptys common stock owned as of the close of business on April 6, 2026, the record date for the distribution.

Anaptys will continue to trade on Nasdaq under the ticker symbol “ANAB”. First Tracks Bio common stock will begin regular-way trading today on the Nasdaq Global Select Market under the symbol “TRAX”.

About AnaptysBio

Anaptys exclusively manages the financial collaborations for Jemperli with GSK and imsidolimab with Vanda, with a focus on protecting and returning the value of its royalties to shareholders. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to whether Anaptys is able to protect its financial collaborations; and its ability to return value to its shareholders. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to protect its financial collaborations and return value to its shareholders, the company’s ability to operate efficiently with a limited staff, and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

This press release also includes a reference to EBIT margin which is a measure not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), which Anaptys believes provides important perspective with respect to operational profitability. Non-GAAP financial measures may exclude items that are significant in understanding and assessing Anaptys’ financial results, should not be considered in isolation or as an alternative to GAAP measures, and should be considered only as a supplement to, and not as superior to, GAAP measures. Anaptys cannot predict with certainty the magnitude or scope of certain items that would be included in the most directly comparable GAAP measure to EBIT margin for the relevant future periods, and such items may be significant. Due to these uncertainties, Anaptys cannot provide a quantitative reconciliation of EBIT margin to the most directly comparable GAAP financial measure without unreasonable effort.

Investor Contact:

Anaptys Investor Relations
[email protected]

Validation study targets sub-3-minute results to capture global roadside testing market and significantly reduce analysis time from 10 minutes 

U.S. Roadside drug testing market projected to reach $1.62 billion by 2030

NEW YORK, April 20, 2026 (GLOBE NEWSWIRE) — Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced the launch of a validation study aimed at significantly reducing the analysis time of its Intelligent Fingerprinting Drug Screening System.

The study aims to improve the already rapid time-to-result of INBS’s drug screening technology, which collects samples in under a minute and provides results within ten minutes at the point of collection. Faster results will enable INBS to target the global roadside drug testing market with a first-in-class solution.

“Speed matters in drug screening and is critical for roadside law enforcement,” said Harry Simeonidis, President and CEO at INBS. “Moving from a ten-minute test to under three minutes changes the entire value equation for our customers. This validation study aims to confirm our encouraging preliminary findings and advance us toward our two-minute test goal.”

In the U.S. alone, roadside drug testing was valued at $1.17 billion in 2023 and is projected to reach $1.62 billion by 2030, growing at a compound annual growth rate of 4.71%¹. The rise in prescription medications, recreational marijuana, and illicit drugs has created a surge in drug-related accidents and fatalities. Law enforcement agencies are intensifying efforts to combat impaired driving, creating demand for advanced testing solutions that deliver quick, accurate field results. INBS’s system is already deployed in the Forensic Use Only market in the U.S., and enhanced speed would further strengthen the technology’s positioning as states expand drug testing programs following marijuana legalization and increased substance abuse concerns.

Faster analysis times have the potential to transform roadside drug testing in the same way that breathalyzers revolutionized alcohol enforcement. Increased testing throughput will enable law enforcement to screen more drivers, improving road safety and potentially saving lives. In addition to roadside applications, accelerated testing would further expand INBS’s access to other high-value verticals beyond its established workplace testing business, which currently operates outside the United States, including drug treatment and rehabilitation, and the consumer health market.

The wider global drug screening products market is projected to grow at a compound annual growth rate of approximately 14% through 2030, reaching an estimated addressable market of $16.7 billion². Time-to-result is increasingly valued as law enforcement and government agencies favor fast, non-invasive, point-of-collection solutions that are easy to administer.

INBS continues to navigate the regulatory pathway and remains focused on securing FDA 510(k) clearance of its Intelligent Fingerprinting Drug Screening System for detection of the opiate codeine, which will enable broader use in the U.S. market beyond current Forensic Use Only settings. The U.S. market represents a multi-billion-dollar opportunity spanning workplace testing, criminal justice, law enforcement, and substance abuse treatment and enhanced testing speed would provide a compelling competitive advantage as the Company pursues planned U.S. market entry.

The validation study is in its preliminary phase.

About Intelligent Bio Solutions Inc.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the U.S. include construction, manufacturing and engineering, transport and logistics firms, mining, drug treatment organizations, and coroners. 

For more information, visit: https://ibs.inc/ 

Forward-Looking Statements 

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, statements regarding Intelligent Bio Solutions Inc.’s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefits from its partnerships and collaborations, and secure regulatory clearance or approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results may differ materially from those expressed or implied by such statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” and “approximately,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those described in Intelligent Bio Solutions’ public filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of the date of this release. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.  

Company Contact 
Intelligent Bio Solutions Inc.  
[email protected]

Investor & Media Contact  
Valter Pinto, Managing Director  
KCSA Strategic Communications  
PH: (212) 896-1254  
[email protected] 

________________________________
_{Hyperlinks and website references in this release are provided for convenience only, and do not incorporate the referenced content into this release.}

_{¹ Grand View Research 2023. U.S. Roadside Drug Testing Market (2024 – 2030). Available at: https://www.grandviewresearch.com/industry-analysis/us-roadside-drug-testing-market-report}

_{² Research and Markets 2026. Drug screening – Global Strategic Business Report. Available at: https://www.researchandmarkets.com/reports/4804177/drug-screening-global-strategic-business-report}

GREENWICH, Conn., April 20, 2026 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium carbonate, today announced that it has entered into a Letter of Intent (the “LOI”) with a single institutional investor to support project level financing for its planned lithium refinery in Muskogee, Oklahoma.

Under the terms of the LOI, the institutional investor has indicated its intent to invest up to $150 million at the project level, with flexibility across equity, debt, and hybrid financing structures. The investment is expected to be made as we continue to secure funding from other investors, and it will help us develop our long-term capital plans. Structuring the investment at the asset level is expected to reduce dilution for public shareholders while supporting the establishment of a transparent, market-driven valuation for the refinery.

The LOI represents a meaningful step in advancing the project’s capital stack and provides increased visibility into financing for the construction of the Company’s lithium refinery. It also reflects growing institutional interest in American lithium refining infrastructure and reinforces the project’s positioning as a viable, financeable asset within the evolving domestic battery materials supply chain.

Roshan Pujari, Founder and Chief Executive Officer of Stardust Power, commented: “This LOI is an important step as we gear up to build this critical piece of national infrastructure. Establishing the capital stack at the project level is a key milestone, and we believe it reflects growing recognition from institutional investors that our refinery is both viable and strategically positioned. As we progress discussions with additional partners, our focus remains on structuring a disciplined and competitive financing package aligned with long-term value creation.”

Stardust Power is currently advancing its lithium refinery project in Muskogee, Oklahoma, designed to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate at full capacity, to be developed in two phases of approximately 25,000 metric tons per annum each. The Company has completed a FEL-3 engineering study and secured key permits, including the air permit from the Oklahoma Department of Environmental Quality, enabling construction and commissioning to start upon financing. Recent milestones include third-party engineering validation, additional feedstock supply agreements, and continued progress on project-level financing discussions.

The agreement is non-binding and outlines a framework for a potential investment of up to $150 million at the project level, including the ability to support the financing through syndication and direct capital participation. The parties have also agreed to proceed through customary due diligence and negotiation of definitive agreements.

About Stardust Power Inc.

Stardust Power is a developer of battery-grade lithium carbonate designed to bolster America’s energy security through resilient supply chains. The Company plans to build a strategically located lithium refinery in Muskogee, Oklahoma, with the capacity to produce up to 50,000 metric tons of battery-grade lithium carbonate annually. Committed to sustainability at every stage, Stardust Power trades on Nasdaq under the ticker “SDST.”

For more information, visit www.stardust-power.com

Stardust Power Contacts

For Investors:

Johanna Gonzalez

[email protected]

For Media:

Michael Thompson

[email protected]

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions, plans, objectives, goals, prospects, financial results or strategies regarding us and the future held by our management team and the products and markets, future events, future financial condition, expected future revenues or performance, financing needs, our ability to continue as a going concern, business trends and market opportunities of our business, as well as statements regarding the expected capital expenditures, risks, production level, produced lithium quality, project design, feedstock supply, financing arrangements, final investment decision, development, construction, permits and related timelines with respect to the Company’s Muskogee lithium refinery. These forward-looking statements are based on management’s current beliefs and assumptions, based on currently available information, as to the outcome and timing of future events. Forward-looking statements may be identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical fact, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon beliefs, assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these beliefs and judgments are reasonable, but these statements are not guarantees of any future events, financial results or outcomes, or the timing of such. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events, results, outcomes and circumstances, and the timing thereof, are difficult or impossible to predict and may differ from our beliefs, assumptions or predictions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including the ability of Stardust Power to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the price of Stardust Power’s securities, including volatility resulting from recent sales of securities, issuance of debt, and exercise of warrants, changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; the regulatory environment and our ability to obtain necessary permits and other governmental approvals for our operation; Stardust Power’s need for substantial additional financing to execute our business plan and our ability to access capital and the financial markets; worldwide growth in the adoption and use of lithium products; the Company’s ability to enter into and realize the anticipated benefits of offtake and license and other commercial agreements; risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; the substantial doubt regarding the Company’s ability to continue as a going concern and the need to raise capital in the near term in order to maintain the Company’s operations; the Company’s continued listing on the Nasdaq; and those factors described or referenced in the Company’s filings with the SEC, including the Company’s Registration Statement on Form S-1 filed with the SEC on February 12, 2026 and Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on March 25, 2026. The foregoing list of factors is not exhaustive. If any of these risks materialize or our assumptions prove incorrect, actual results, outcomes, performance or achievements, or the timing of such results, outcomes, performance or achievements could differ materially from those expressed or implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results, outcomes, performance or achievements, or the timing of such results, outcomes, performance or achievements to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

PHILADELPHIA, April 20, 2026 (GLOBE NEWSWIRE) —

BELLRING BRANDS, INC. (NYSE: BRBR):

WHAT IS HAPPENING? Grabar Law Office is investigating claims on behalf of shareholders of BellRing Brands, Inc. (NYSE: BRBR). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you purchased
BellRing Brands, Inc.
 (NYSE: BRBR)
shares prior to
October 1, 2024
,
and still hold shares today,
you can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.
Y
ou are encouraged to visit

https://grabarlaw.com/the-latest/bellring-shareholder-investigation/

, contact Joshua Grabar at

[email protected]

,
or call 267-507-6085.

WHY? As alleged in a recently filed federal securities fraud class action complaint, BellRing Brands, Inc. (NYSE: BRBR), through certain of its officers, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) customers accumulated excess inventory as a safeguard from product shortages Bellring’s supply had previously faced; (2) once customers were confident that the product shortages were resolved, they reduced inventory and cut back on new orders; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

WHAT CAN YOU DO NOW? If you purchased
BellRing Brands, Inc.
 (NYSE: BRBR)
shares prior to
October 1, 2024
,
and still hold shares today,
you are encouraged to visit

https://grabarlaw.com/the-latest/bellring-shareholder-investigation/

, contact Joshua Grabar at

[email protected]

,
or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

$BRBR #BRBR #BellRing

COTY INC. (NYSE: COTY):

WHAT IS HAPPENING? Grabar Law Office is investigating claims on behalf of shareholders of Coty Inc. (NYSE: COTY). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you purchased
Coty Inc. (NYSE: COTY)
shares prior to
November 5, 2025,
and still hold shares today,
you can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever through a shareholder governance action. Alternatively, if you purchased Coty shares between November 5, 2025, through February 4, 2026, you can participate in the class action.
Please
visit
https://grabarlaw.com/the-latest/coty-investigation/
, contact Joshua Grabar at
[email protected]
,
or call 267-507-6085 to learn. more.

WHY? As alleged in a recently filed federal securities fraud class action complaint, Coty, Inc. (NYSE: COTY), through certain of its officers, made false statements and/or failed to disclose to investors that: (1) Defendants overwhelmingly positive statements regarding Coty’s growth and profitability prospects for fiscal year 2026 were false when made; (2) Coty’s growth in the beauty market was slowing, including underperformance in its Consumer Beauty segment; (3) The Company’s margins were being pressured by increased marketing expenditures; (4) Growth in Coty’s Prestige fragrance segment was decelerating; and (5) As a result, Defendants’ statements about Coty’s business, operations, and prospects were materially false and misleading at all relevant times.

WHAT CAN YOU DO NOW?
If you purchased
Coty Inc. (NYSE: COTY)
shares prior to
November 5, 2025,
and still hold shares today,
you are encouraged to visit

https://grabarlaw.com/the-latest/coty-investigation/

, contact Joshua Grabar at

[email protected]

,
or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. Alternatively, if you purchased Coty shares between November 5, 2025, through February 4, 2026, you can participate in the class action.

#COTY $COTY

E.L.F. BEAUTY, INC. (NYSE: ELF) -SECURITIES FRAUD CLASS ACTION SURVIVES MOTION TO DISMISS:

WHAT IS HAPPENING? Grabar Law Office is investigating claims on behalf of long-term e.l.f. Beauty, Inc. (NYSE: ELF) shareholders as key allegations in an underlying securities fraud class action complaint have survived a motion to dismiss. The investigation concerns whether certain officers of the company have breached their fiduciary duties they owed to the company.

If you have held e.l.f. Beauty (NYSE: ELF) shares since prior to
February 7, 2024
,
visit

https://grabarlaw.com/the-latest/elf-shareholder-investigation/

,
contact Joshua H. Grabar at

[email protected]

, or call 267-507-6085
. Y
ou can
seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you whatsoever.

WHY?
Key allegations of a federal securities fraud class action complaint filed against e.l.f. Beauty (NYSE: ELF) and certain of its Officers have survived a motion to dismiss. That complaint alleges that (i) Defendants had been concealing declining demand, particularly in its untracked channels like Ulta Beauty; (ii) ELF had ballooned its inventory to more than $200 million worth of product because it was not able to sell its goods at the rates it promised; and (iii) ELF had failed to produce successful innovations in the latter half of 2024, despite reassuring the market during that time frame that their innovations were spurring strong growth.

On February 4, 2026, a Federal Court determined that the underlying complaint, as to certain allegations, “plausibly alleges all elements of a securities fraud claim.”

WHAT CAN YOU DO NOW?
If you have held e.l.f. Beauty (NYSE: ELF) shares since prior to
February 7, 2024
, you can
seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you whatsoever. Visit https://grabarlaw.com/the-latest/elf-shareholder-investigation/,contact Joshua H. Grabar at [email protected], or call 267-507-6085 to learn more.

#ELF #elfBeauty $ELF

POWER SOLUTIONS INTERNATIONAL, INC. (NASDAQ: PSIX):

WHAT IS HAPPENING? Grabar Law Office is investigating claims on behalf of shareholders of Power Solutions International, Inc. (NASDAQ: PSIX). The investigation concerns whether Power Solutions and certain of its executives breached their fiduciary duties.

If you purchased
Power Solutions International, Inc. (NASDAQ: PSIX) shares prior to May 8, 2025, please
visit

https://grabarlaw.com/the-latest/psix-shareholder-investigation/
, contact Joshua H. Grabar at [email protected], or call 267-507-6085. You can seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you whatsoever. Alternatively, if you purchased or acquired your shares between May 8, 2025, through March 2, 2026, you may be able to participate in this securities fraud class action.

WHY? According to a recently filed federal securities fraud class action complaint, Power Solutions (NASDAQ: PSIX); through certain of its officers, failed to disclose to investors: (1) the Company overstated its ability to capture sales demand for its power systems solutions, particularly within the data center market; (2) the Company understated the impact of its enhancements to manufacturing capacity to meet demand within the data center market, including the expected costs and the nature of the related “inefficiencies”; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. 

WHAT CAN YOU DO NOW?
If you purchased or otherwise acquired
Power Solutions International, Inc. (NASDAQ: PSIX) securities prior to May 8, 2025,
you can
seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you whatsoever. Visit https://grabarlaw.com/the-latest/psix-shareholder-investigation/, contact Joshua H. Grabar at [email protected], or call 267-507-6085 to learn more. Alternatively, if you purchased or acquired your shares between May 8, 2025, through March 2, 2026, you may be able to participate in this securities fraud class action.

#PSIX $PSIX #PowerSolutions

Attorney Advertising Disclaimer

Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: [email protected]