Stardust Power Inc.: Nasdaq delisting notice and CFO resignation

What happened

• Stardust Power Inc. reported that the Nasdaq Listing Qualifications Staff has determined to suspend trading in and delist the company's common stock and warrants at the opening of business on Oct 23, 2026, after a Staff Determination on Oct 15, 2026 that the company's common stock had a closing bid price of $0.10 or less for ten consecutive trading days as of Oct 14, 2026.
• The filing also reported that on Oct 14, 2026 Mr. Udaychandra Devasper notified the company of his decision to resign as chief financial officer, with the resignation anticipated to be effective as of Oct 23, 2026.

Key details

• On Apr 24, 2026 Nasdaq notified the company that it no longer satisfied the $35,000,000 market value of listed securities requirement and the company had until Oct 21, 2026 to regain compliance.
• On Sep 11, 2026 Nasdaq notified the company that, based on the last 30 consecutive business days, it no longer satisfied the minimum bid price requirement of $1.00 per share and provided a 180-calendar-day compliance period until Mar 10, 2027.
• On Oct 15, 2026 the Staff issued a determination citing the $0.10 closing bid-price condition and indicated it would suspend trading and delist the securities and file a Form 25-NSE to remove the securities from Nasdaq.
• A request for a hearing before the Nasdaq Hearings Panel must be received no later than 4:00 p.m. Eastern Time on Oct 23, 2026; a non-refundable hearing fee of $20,000 must be submitted within seven calendar days; a timely hearing request will not stay the trading suspension.

Why it may matter

• The filing reports Item 3.01 (notice of delisting or failure to satisfy a continued listing rule or standard), Item 5.02 (departure of directors or certain officers) and Item 8.01 (other events) and describes the Staff Determination, the CFO resignation and the board and management's consideration of available options, including whether to request a hearing, seeking over-the-counter quotation, cost-reduction measures and other strategic alternatives. A filing does not show why the insider traded or why the company acted.