secwatch.observer — SEC 8-K summary
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Issuer:     Propanc Biopharma, Inc. (PPCB)
CIK:        0001517681
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001493152-23-027171
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Propanc Biopharma issues $45K convertible note at 65% discount; terminates $5M equity line
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- Issued $45,000 convertible promissory note to 1800 Diagonal Lending LLC, convertible at 65% of market price after 180 days.
- 8% annual interest (22% on default), maturity July 19, 2024; prepayment allowed at premiums up to 129% within 180 days.
- Termination of $5,000,000 equity line agreement with an institutional investor on July 25, 2023 due to registration disagreement.
- Note issued as unregistered security under Section 4(a)(2) and Regulation D; proceeds for working capital.
- Company must maintain share reserve of 500% of conversion shares and avoid becoming shell company without investor consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223027171/0001493152-23-027171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223027171/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-027171

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