secwatch.observer — SEC 8-K summary
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Issuer:     Propanc Biopharma, Inc. (PPCB)
CIK:        0001517681
Form:       8-K
Filed at:   2023-08-29T23:59:59+00:00
Accession:  0001493152-23-030413
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Propanc Biopharma raises $72,500 via convertible note with aggressive conversion terms
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223030413/0001493152-23-030413-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223030413/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-030413

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer