Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma raises $72,500 via convertible note with aggressive conversion terms

Propanc Biopharma, Inc.

$77,500 convertible note issued to GS Capital Partners; net proceeds $72,500, 8% interest, matures Feb 2024.
Initial conversion price $0.04/share; drops to $0.02 if stock trades below $0.03 for five consecutive days.
Company may prepay at 110%-125% premium within 180 days; after that no prepayment right.
Proceeds for general working capital; note issued under Regulation D, unregistered.
Default triggers 24% interest and potentially lower conversion price based on lowest trading price.

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 $77,500 with an investor at 8% per annum maturing February 23, 2024.

Instrument: convertible notes
Principal: $77,500
Counterparty: an investor
Rate: 8% per annum
Maturity: February 23, 2024
Event: incurrence

Exact text from the filing

On August 23, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “Investor”), which closed on August 23, 2023, pursuant to which the Investor purchased a convertible redeemable promissory note in the aggregate principal amount of $77,500 (the “Note”) from the Company for $72,500.

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

Propanc Biopharma, Inc. entered into Purchase Agreement with an investor (the “Investor”) valued at $77,500 (effective 2023-08-23).

Action: entry
Agreement: equity purchase
Counterparty: an investor (the “Investor”)
Value: $77,500
Effective: 2023-08-23

Exact text from the filing

On August 23, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “Investor”), which closed on August 23, 2023, pursuant to which the Investor purchased a convertible redeemable promissory note in the aggregate principal amount of $77,500

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 0001493152-23-030413

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