secwatch.observer — SEC 8-K summary
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Issuer:     Propanc Biopharma, Inc. (PPCB)
CIK:        0001517681
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0001493152-23-029723
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Propanc Biopharma enters $55K convertible note and $132K promissory note financings
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223029723/0001493152-23-029723-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223029723/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-029723

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