secwatch.observer — SEC 8-K summary
======================================

Issuer:     Propanc Biopharma, Inc. (PPCB)
CIK:        0001517681
Form:       8-K
Filed at:   2022-08-18T23:59:59+00:00
Accession:  0001493152-22-023445
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Propanc Biopharma raises $203K via convertible notes with dilutive conversion terms
--------------------------------------------------------------------------------

- Entered convertible note agreements with GS Capital ($93K principal, net $88K after $5K OID) and ONE44 ($110K principal, net $100K after $10K OID).
- Notes bear interest at 8% (GS) and 10% (ONE44), mature in one year (Aug 2023).
- Conversion price for GS note fixed at $0.0028/share, dropping to $0.0013 if stock trades under $0.002 for 5 days; ONE44 at 65% of lowest bid.
- Prepayment premiums range from 110%-130% (GS) and 120%-135% (ONE44) of face value plus interest, within 180 days.
- Proceeds used for general working capital; notes are convertible into common stock with 4.99% beneficial ownership cap.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517681/000149315222023445/0001493152-22-023445-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517681/000149315222023445/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-023445

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer