Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma enters $55K convertible note and $132K promissory note financings

Propanc Biopharma, Inc.

Issued $55,000 convertible promissory note to 1800 Diagonal Lending LLC, convertible at 65% of market price after 180 days, 8% interest, matures Aug 16, 2024.
Issued $132,000 face (10% OID) promissory note for $120,000 proceeds, 10% interest, matures Nov 15, 2023; prepayable at 110%-130% premium.
Proceeds from both notes will be used for general working capital; notes issued under Section 4(a)(2) and Rule 506 private placement exemptions.
Convertible note includes prepayment options with escalating premiums (110% to 129% within 180 days) and default triggers 150% acceleration.
Promissory note default interest increases to 18%; Company must maintain corporate existence and cannot sell substantially all assets without consent.

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 aggregate principal amount of $55,000 with August Investor at 8% per annum, which may be increased to 22% in the event of a default maturing August 16, 2024.

Instrument: convertible notes
Principal: aggregate principal amount of $55,000
Counterparty: August Investor
Rate: 8% per annum, which may be increased to 22% in the event of a default
Maturity: August 16, 2024
Event: incurrence

Exact text from the filing

On August 16, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “August Investor”), which closed on August 16, 2023, pursuant to which the August Investor purchased a convertible promissory note (the “August Note”) from the Company in the aggregate principal amount of $55,000

View on SEC.gov

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

Propanc Biopharma, Inc. incurred loan of principal face amount of $132,000 with August Lender at 10% per annum, which may be increased to 18% in the event of a default maturing November 15, 2023.

Instrument: loan
Principal: principal face amount of $132,000
Counterparty: August Lender
Rate: 10% per annum, which may be increased to 18% in the event of a default
Maturity: November 15, 2023
Event: incurrence

Exact text from the filing

On August 15, 2023, the Company issued to an institutional investor (the “August Lender”) a 10% original issue discount promissory note (the “Promissory Note”) in consideration for $120,000, which has a principal face amount of $132,000, matures on November 15, 2023 and accrues interest at a rate of 10% per annum, which may be increased to 18% in the event of a default.

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

Propanc Biopharma, Inc. entered into Promissory Note with an institutional investor (the “August Lender”) valued at $132,000 (effective 2023-08-15).

Action: entry
Agreement: notes offering
Counterparty: an institutional investor (the “August Lender”)
Value: $132,000
Effective: 2023-08-15

Exact text from the filing

On August 15, 2023, the Company issued to an institutional investor (the “August Lender”) a 10% original issue discount promissory note (the “Promissory Note”) in consideration for $120,000, which has a principal face amount of $132,000

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 an investor (the “August Investor”) valued at $55,000 (effective 2023-08-16).

Action: entry
Agreement: equity purchase
Counterparty: an investor (the “August Investor”)
Value: $55,000
Effective: 2023-08-16

Exact text from the filing

On August 16, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “August Investor”), which closed on August 16, 2023, pursuant to which the August Investor purchased a convertible promissory note (the “August Note”) from the Company in the aggregate principal amount of $55,000

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 0001493152-23-029723

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