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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0306 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2022-09-30 </periodOfReport> |
| <issuer> |
| | <issuerCik> 0001864943 </issuerCik> |
| | <issuerName> FGI Industries Ltd. </issuerName> |
| | <issuerTradingSymbol> FGI </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001876536 </rptOwnerCik> |
| | | <rptOwnerName> Heysse Todd M. </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 906 MURRAY ROAD </rptOwnerStreet1> |
| | | <rptOwnerStreet2></rptOwnerStreet2> |
| | | <rptOwnerCity> EAST HANOVER </rptOwnerCity> |
| | | <rptOwnerState> NJ </rptOwnerState> |
| | | <rptOwnerZipCode> 07869 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> true </isDirector> |
| | | <isOfficer> false </isOfficer> |
| | | <isTenPercentOwner> false </isTenPercentOwner> |
| | | <isOther> false </isOther> |
| | | <officerTitle></officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-09-30 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> P </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| <footnoteId id="F1"/> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 474 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 2.2477 </value> |
| <footnoteId id="F2"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 44671 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> Heysse Family Trust </value> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-10-03 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> P </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| <footnoteId id="F1"/> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 325 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 2.2838 </value> |
| <footnoteId id="F3"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 44996 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> Heysse Family Trust </value> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2022-10-04 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> P </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| <footnoteId id="F1"/> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 3834 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 2.3375 </value> |
| <footnoteId id="F4"/> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 48830 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> Heysse Family Trust </value> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | </nonDerivativeTable> |
| <derivativeTable></derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> The purchases reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 19, 2022 </footnote> |
| | <footnote id="F2"> Reflects the weighted average price of 474 shares of common stock of FGI Industries Ltd. purchased by the reporting person in multiple transactions on September 30, 2022 with purchase prices ranging from $2.23 to $2.26 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price. </footnote> |
| | <footnote id="F3"> Reflects the weighted average price of 325 shares of common stock of FGI Industries Ltd. purchased by the reporting person in multiple transactions on October 3, 2022 with purchase prices ranging from $2.28 to $2.29 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price. </footnote> |
| | <footnote id="F4"> Reflects the weighted average price of 3,834 shares of common stock of FGI Industries Ltd. purchased by the reporting person in multiple transactions on October 4, 2022 with purchase prices ranging from $2.25 to $2.38 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each </footnote> |
| | </footnotes> |
| <ownerSignature> |
| | <signatureName> /s/ John S. Chen, Attorney-in-Fact </signatureName> |
| | <signatureDate> 2022-10-04 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |