IPO - Founder Group Ltd

Form Type: 424B1

Filing Date: 2025-05-27

Corporate Action: Ipo

Type: New

Accession Number: 000121390025047759

Filing Summary: Founder Group Limited has filed a prospectus relating to the resale of up to 11,750,000 ordinary shares by AVONDALE CAPITAL, LLC, which includes 1,750,000 shares as a commitment fee, along with up to 10,000,000 shares potentially issuable based on prepaid purchase agreements. The Company is not selling its own shares and will not receive proceeds from the sales, but may gain up to $10 million under the Purchase Agreement with the Selling Securityholder. The ordinary shares are listed on Nasdaq with the symbol 'FGL', and recent trading data showed a closing price of $1.28 per share on May 14, 2025. The investment involves risks including potential loss of the entire investment. In terms of corporate governance, Reservoir Link Energy Bhd. controls 39.4% of the shares, with CEO Lee Seng Chi holding 24.89%. The Company has also established new subsidiaries and exited a previous securities purchase agreement, focusing on expanding renewable energy investments, particularly in the Southeast Asia region.

Form Type: F-1

Filing Date: 2025-05-20

Corporate Action: Ipo

Type: New

Accession Number: 000121390025045533

Filing Summary: Founder Group Limited, a solar solutions provider based in Malaysia, has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission. This prospectus allows for the resale of up to 11,750,000 Ordinary Shares by the Selling Securityholder, AVONDALE CAPITAL, LLC. The shares include 1,750,000 Commitment Shares, 1,650,000 Pre-Delivery Shares, and the potential for 10,000,000 Purchase Shares under a Securities Purchase Agreement dated April 22, 2025. The proceeds from the transaction will not go to the company but may enable the Selling Securityholder to recover up to $10 million. The company is also identified as an emerging growth company and intends to comply with reduced public company reporting requirements. The company's Ordinary Shares are listed on the Nasdaq Capital Market under the symbol 'FGL'. The prospectus emphasizes the risks involved in investing and outlines the company’s financial performance, competitive strengths, and growth strategies, while also making clear that both the company and the Selling Securityholder are not responsible for information outside this prospectus.