Financing ·
On August 19, 2026, Founder Group Limited amended the conversion and purchase terms for two outstanding instruments to…
FGLFounder Group Ltd
On August 19, 2026, Founder Group Limited amended the conversion and purchase terms for two outstanding instruments to significantly lower the price at which investors can convert debt or purchase shares. The company entered into a Note Amendment with Streeterville Capital, LLC regarding its Secured Convertible Promissory Note with an original principal amount of $16,070,000.00 issued on December 11, 2025. Simultaneously, it executed a Pre-Paid Purchase Amendment with Avondale Capital, LLC concerning Pre-Paid Purchase #1 with an original principal amount of $1,080,000.00 dated July 6, 2026. Both amendments revised the respective pricing mechanisms to be the lower of 85% of the lowest daily volume-weighted average price over ten consecutive trading days or 85% of the lowest intraday hourly VWAP on the submission date. These changes increase potential dilution for existing shareholders by allowing conversion at deeply discounted prices relative to market value. Founder Group Limited operates in the technology and investment sector, focusing on digital assets and strategic investments.