Founder Group Ltd filings show that Avondale Capital, LLC and related reporting persons beneficially own 1,939,587 ordinary shares, representing 9.99% of the 19,415,289 shares outstanding reported on May 19, 2025. The stake is held directly by Avondale and is beneficially reported by Streeterville Capital LLC, Streeterville Management LLC and John M. Fife through their ownership and management relationships. The position arises under a Pre-Paid Purchase agreement that includes a contractual ownership cap set at 9.99%. The filers certify the shares were not acquired to change or influence control.
Positive
Material stake disclosure: beneficial ownership of 1,939,587 shares equals 9.99%
Clear ownership chain: Avondale, Streeterville entities, and John M. Fife disclose their relationships and roles
Contractual cap defined: Pre-Paid Purchase limits ownership to 9.99%, reducing surprise accumulation
Non-control certification: Filers certify the shares were not acquired to change or influence control
Negative
Near-10% threshold: stake approaches the common regulatory/attention level and may restrict additional purchases
Dependence on prior share count: percent calculation uses the May 19, 2025 outstanding share number; changes in share count could alter the percent
Potential trigger for active reporting: any change in intent or additional purchases could require conversion to a Schedule 13D
Insights
Stake disclosure shows a near-10% capped economic position without control intent.
The report documents a 1,939,587-share economic interest that equals 9.99% of the company based on the May 19, 2025 share count. The position is held under a Pre-Paid Purchase arrangement subject to a contractual ownership cap, which limits the holder from exceeding 9.99%.
The filing includes a certification that the stake was not acquired to change or influence control, reducing immediate governance risk. Monitor any amendment filings or Form 13D conversions if the cap changes or if purchases approach the contractual limit within the next 30–90 days.
Disclosure aligns with Schedule 13G reporting standards for passive holdings under a contractual cap.
The group structure is disclosed: Avondale holds the shares, Streeterville entities and John M. Fife report indirect beneficial ownership through managerial and membership relationships. The report checks the Schedule 13G pathway and includes the required certification about non-control intent.
Key compliance items to watch are any conversion to Schedule 13D if intent changes and any filings that update the outstanding share count or the contractual cap within the next quarter.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Founder Group Ltd
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
G3662E105
(CUSIP Number)
10/10/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
G3662E105
1
Names of Reporting Persons
Avondale Capital, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UTAH
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,939,587.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,939,587.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,939,587.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Reporting person Avondale Capital, LLC ("Avondale") has rights, under a Pre-Paid Purchase #1, to own an aggregate number of shares of the Issuer's Ordinary Shares which, except for a contractual cap on the amount of outstanding shares that Avondale may own, would exceed such a cap. Avondale's current ownership cap is 9.99%. Thus, the number of shares of the Issuer's Ordinary Shares beneficially owned by Avondale as of the date of this filing was 1,939,587 shares, which is 9.99% of the 19,415,289 shares outstanding on May 19, 2025 (as reported in the Issuer's Form 424(b)(1) filed on May 27, 2025).
To clarify, the Form line 11 is limited to displaying only the tenth decimal place, but the ownership limitation prescribed in the agreement is 9.99%.
SCHEDULE 13G
CUSIP No.
G3662E105
1
Names of Reporting Persons
Streeterville Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UTAH
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,939,587.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,939,587.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,939,587.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Reporting Person Streeterville Capital, LLC is the sole member of Avondale. Avondale has rights, under a Pre-Paid Purchase #1, to own an aggregate number of shares of the Issuer's Ordinary Shares which, except for a contractual cap on the amount of outstanding shares that Avondale may own, would exceed such a cap. Avondale's current ownership cap is 9.99%. Thus, the number of shares of the Issuer's Ordinary Shares beneficially owned by Avondale as of the date of this filing was 1,939,587 shares, which is 9.99% of the 19,415,289 shares outstanding on May 19, 2025 (as reported in the Issuer's Form 424(b)(1) filed on May 27, 2025).
To clarify, the Form line 11 is limited to displaying only the tenth decimal place, but the ownership limitation prescribed in the agreement is 9.99%.
SCHEDULE 13G
CUSIP No.
G3662E105
1
Names of Reporting Persons
Streeterville Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UTAH
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,939,587.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,939,587.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,939,587.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Reporting Person Streeterville Management, LLC is the manager of Streeterville Capital, LLC, which is the sole member of Avondale. Avondale has rights, under a Pre-Paid Purchase #1, to own an aggregate number of shares of the Issuer's Ordinary Shares which, except for a contractual cap on the amount of outstanding shares that Avondale may own, would exceed such a cap. Avondale's current ownership cap is 9.99%. Thus, the number of shares of the Issuer's Ordinary Shares beneficially owned by Avondale as of the date of this filing was 1,939,587 shares, which is 9.99% of the 19,415,289 shares outstanding on May 19, 2025 (as reported in the Issuer's Form 424(b)(1) filed on May 27, 2025).
To clarify, the Form line 11 is limited to displaying only the tenth decimal place, but the ownership limitation prescribed in the agreement is 9.99%.
SCHEDULE 13G
CUSIP No.
G3662E105
1
Names of Reporting Persons
John M. Fife
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,939,587.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,939,587.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,939,587.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.9 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Reporting Person John M Fife is the sole member of Streeterville Management, LLC which is the manager of Streeterville Capital, LLC, which is the sole member of Avondale. Avondale has rights, under a Pre-Paid Purchase #1, to own an aggregate number of shares of the Issuer's Ordinary Shares which, except for a contractual cap on the amount of outstanding shares that Avondale may own, would exceed such a cap. Avondale's current ownership cap is 9.99%. Thus, the number of shares of the Issuer's Ordinary Shares beneficially owned by Avondale as of the date of this filing was 1,939,587 shares, which is 9.99% of the 19,415,289 shares outstanding on May 19, 2025 (as reported in the Issuer's Form 424(b)(1) filed on May 27, 2025).
To clarify, the Form line 11 is limited to displaying only the tenth decimal place, but the ownership limitation prescribed in the agreement is 9.99%.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Founder Group Ltd
(b)
Address of issuer's principal executive offices:
NO. 17, JALAN ASTANA 1D, BANDAR BUKIT RAJA, 41050 KLANG, SELANGOR DARUL EHSAN, MALAYSIA, 41050
Item 2.
(a)
Name of person filing:
This report is filed by Avondale Capital, LLC, Streeterville Capital LLC, Streeterville Management
LLC, and John M. Fife with respect to the shares of Ordinary Shares of the Issuer that are directly beneficially owned by Avondale Capital LLC and indirectly beneficially owned by the other reporting and filing persons.
(b)
Address or principal business office or, if none, residence:
297 W Auto Mall Drive, Suite 4
St. George, UT 84770
(c)
Citizenship:
Avondale Capital LLC is a Utah limited liability company.
Streeterville Capital LLC is a Utah limited liability company.
Streeterville Management LLC is a Utah limited liability company.
John M. Fife is a United States citizen.
(d)
Title of class of securities:
Ordinary Shares
(e)
CUSIP No.:
G3662E105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1,939,587
(b)
Percent of class:
9.99%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1,939,587
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
1,939,587
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Avondale Capital report in Founder Group Ltd (FGL)?
Avondale Capital reports beneficial ownership of 1,939,587 shares, equal to 9.99% of the 19,415,289 shares outstanding as of May 19, 2025.
Who else is listed on the Schedule 13G/A besides Avondale Capital?
The filing also lists Streeterville Capital LLC, Streeterville Management LLC, and John M. Fife as reporting persons who disclose indirect beneficial ownership through their relationships to Avondale.
Why is the ownership percentage shown as 9.99%?
The position arises under a Pre-Paid Purchase agreement that includes a contractual ownership cap limiting Avondale's ownership to 9.99%; the filing notes the Form line displays only the tenth decimal, but the cap is 9.99%.
Did the filers state any intention to influence control of Founder Group Ltd?
No. The filing includes a certification that the securities were not acquired and are not held to change or influence control of the issuer.
What could trigger additional disclosure after this Schedule 13G filing?
Conversion to a Schedule 13D would be required if the reporting persons acquire the securities for the purpose of changing or influencing control or if the non-passive status of the position changes.
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