Founder Group amends Streeterville Capital USD 16.07 million convertible note conversion pricing terms - FGL News | RalliesFounder Group amends Streeterville Capital USD 16.07 million convertible note conversion pricing terms
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FGL• Amended note conversion terms
- Founder Group amended terms of a secured convertible promissory note with Streeterville Capital, effective Aug. 19, 2026.
- The note was originally issued Dec. 11, 2025 with an original principal amount of USD 16.07 million.
- Conversion price reset to the lower of 85% of the lowest daily VWAP over the prior 10 trading days.
- Alternative conversion price set at 85% of the lowest intraday hourly VWAP on the conversion notice date.
- The amendment added an “intraday hourly VWAP” definition; no cash or property consideration was paid for the change.
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