DelistingApr 30, 2026, 04:43 PM
SDST Receives Nasdaq Delisting Notice; Oklahoma Supports Lithium Project
AI Summary
Stardust Power Inc. (SDST) received a notice from Nasdaq regarding non-compliance with the minimum $35 million market value of listed securities requirement. The Company has 180 calendar days, until October 21, 2026, to regain compliance through various alternative standards. Separately, the Company's proposed Lithium Refinery Project received significant support from both the Office of the Governor of Oklahoma and the Oklahoma Department of Commerce, highlighting its potential for economic benefits.
Key Highlights
- Stardust Power Inc. received a Nasdaq delisting notice for failing the minimum $35 million market value requirement.
- The Company has 180 calendar days, until October 21, 2026, to regain compliance with Nasdaq listing rules.
- Compliance can be regained by maintaining $2.5 million stockholders' equity or $500,000 net income.
- To meet the market value requirement, securities must close at $35 million or more for 10 consecutive business days.
- The proposed Lithium Refinery Project received significant support from the Office of the Governor of Oklahoma.
- The Oklahoma Department of Commerce also supported the Project, recognizing its potential for jobs and investment.