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[Problem Resolved] - Posting the solution for community help. - The problem was occuring while supplying power from Li-SoCl2 battery, which tends to show a few uS voltage drop when the Teensy wakes up from deep sleep. - We tested with an external 5V adaptor stable source (mobile charger) and...

True that LP38691 outputs 3V3 and not 5V. NXP MK66 MCU sees this simply as 2.6V to its VDD pins. I guess it will not differentiate between Teensy or any other Board unless there are any specific power-related configurations done that it can work only on 3.3V. So, given that VDD can go down to...