Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma secures $65K convertible note and AU$230K loan; issues warrant for 15M shares

Propanc Biopharma, Inc.

Entered securities purchase agreement with 1800 Diagonal Lending LLC for $65,000 convertible note at 8% interest, convertible at 65% of market price.
Loan agreement with institutional investor for AU$230,000 at 10% interest, 3-year term; issued warrant for 15M shares at $0.01.
Proceeds used to repay ~$143,000 convertible note in default; remaining for working capital.
Convertible note maturity June 29, 2024; prepayment premiums range from 110% to 129%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Propanc Biopharma, Inc. incurred convertible notes of $65,000 with June Investor at 8% per annum maturing June 29, 2024.

Instrument: convertible notes
Principal: $65,000
Counterparty: June Investor
Rate: 8% per annum
Maturity: June 29, 2024
Event: incurrence

Exact text from the filing

On June 29, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “June Investor”), which closed on July 6, 2023, pursuant to which the June Investor purchased a convertible promissory note (the “June Note”) from the Company in the aggregate principal amount of $65,000

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Propanc Biopharma, Inc. incurred loan of AU$230,000 with July Investor at 10% maturing July 5, 2026.

Instrument: loan
Principal: AU$230,000
Counterparty: July Investor
Rate: 10%
Maturity: July 5, 2026
Event: incurrence

Exact text from the filing

On July 5, 2023, the Company and an institutional investor (the “July Investor”) entered into a letter agreement (the “Loan Agreement”), pursuant to which the July Investor loaned the Company an aggregate of AU$230,000

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Propanc Biopharma, Inc. entered into Purchase Agreement with June Investor valued at $65,000 (effective 2023-06-29).

Action: entry
Agreement: equity purchase
Counterparty: June Investor
Value: $65,000
Effective: 2023-06-29

Exact text from the filing

On June 29, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “June Investor”), which closed on July 6, 2023, pursuant to which the June Investor purchased a convertible promissory note (the “June Note”) from the Company in the aggregate principal amount of $65,000

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Propanc Biopharma, Inc. entered into Loan Agreement with July Investor valued at AU$230,000 (effective 2023-07-05).

Action: entry
Agreement: credit facility
Counterparty: July Investor
Value: AU$230,000
Effective: 2023-07-05

Exact text from the filing

On July 5, 2023, the Company and an institutional investor (the “July Investor”) entered into a letter agreement (the “Loan Agreement”), pursuant to which the July Investor loaned the Company an aggregate of AU$230,000.

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

Propanc Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-024277

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