Propanc Biopharma enters $5M equity line with Dutchess Capital at 85% discount

Propanc Biopharma, Inc.

Up to $5M of common stock sales over 24 months; purchase price 85% of lowest trading price during 7-day pricing period.
Maximum drawdown per notice: the lesser of $200,000 or 200% of 5-day average daily trading value; minimum $5,000 per notice.
Per drawdown, cannot exceed 52.5M shares or cause investor ownership above 4.99% of outstanding shares.
Proceeds used for R&D, clinical study manufacturing, working capital, and general corporate purposes.
Registration statement must be effective before any drawdown; registration rights agreement requires filing within 45 days.

Key facts

Extracted from this filing and checked against the source text.

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

Propanc Biopharma, Inc. entered into common stock purchase agreement with an institutional investor valued at up to $5,000,000 (effective 2023-07-20).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: up to $5,000,000
Effective: 2023-07-20

Exact text from the filing

On July 20, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a common 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

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38 material agreements filed in the last 30 days. Browse all material agreements →

Propanc Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-025571

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