---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017322"
form_type: "8-K"
ticker: "PPCB"
cik: "0001517681"
company_name: "Propanc Biopharma, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:05:15.828088+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Propanc Biopharma defaults on $125K convertible note; enters $5M equity facility

## Summary
- Entered equity line facility for up to $5M over 36 months; shares sold at 80% of lowest VWAP.
- Issued $125K 10% convertible note with $25K OID; $12.5K guaranteed interest; due in 7 monthly payments from March 24, 2023.
- Company in default as of March 24, 2023 for failure to make payments and reverse split without consent; discussions to cure.
- Warrant holder exercised $150K of Series B warrants; terms extended to March 2025.

## SEC filing metadata
- accession: 0001493152-23-017322
- form_type: 8-K
- ticker: PPCB
- cik: 0001517681
- company_name: Propanc Biopharma, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 2.04, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017322
- JSON: https://secwatch.observer/filing/0001493152-23-017322.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017322.txt

## Key facts
- Debt Financings
  Propanc Biopharma, Inc. reported a default on convertible notes.
  - Instrument: convertible notes
  - Event: default
  source text: As of March 24, 2023, the Company was in default under the Note for failure to pay the initial and subsequent monthly payments of principal and accrued interest
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm
- Debt Financings
  Propanc Biopharma, Inc. incurred convertible notes of $125,000 at 10% per annum maturing October 24, 2023.
  - Instrument: convertible notes
  - Principal: $125,000
  - Rate: 10% per annum
  - Maturity: October 24, 2023
  - Event: incurrence
  source text: the Company issued the Investor a 10% unsecured convertible promissory note, dated November 3, 2022, with an aggregate face value of $125,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm
- Material Agreements
  Propanc Biopharma, Inc. entered into Purchase Agreement with the Investor valued at $125,000 (effective 2022-11-03).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the Investor
  - Value: $125,000
  - Effective: 2022-11-03
  source text: entered into a note purchase agreement (the “Purchase Agreement”), pursuant to which the Company issued the Investor a 10% unsecured convertible promissory note, dated November 3, 2022, with an aggregate face value of $125,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm
- Material Agreements
  Propanc Biopharma, Inc. entered into Equity Line Agreement with an institutional investor (the “Investor”) valued at $5,000,000 (effective 2022-11-03).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an institutional investor (the “Investor”)
  - Value: $5,000,000
  - Effective: 2022-11-03
  source text: entered into a stock purchase agreement (the “Equity Line Agreement”) with an institutional investor (the “Investor”) providing for an equity financing facility, pursuant to which Company has the option to request that the Investor commit to purchase up to $5,000,000 of the Company’s shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.