Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma issues $61K convertible note to GS Capital; conversion at $0.015, adjustable to $0.0075

Propanc Biopharma, Inc.

Entered securities purchase agreement with GS Capital Partners, LLC for $61,000 principal convertible note at 8% interest.
Note purchased at $57,500 ($3,500 OID); net proceeds for general working capital.
Conversion price initially $0.015/share, reduced to $0.0075 if stock trades <$0.01 for 5+ consecutive trading days.
Maturity April 12, 2024; prepayment options: 110% within 60 days, scaling to 125% by 180 days.
Events of default include failure to timely issue conversion shares, loss of OTC listing, and non-compliance with SEC reporting.

item 1.01 item 2.03 item 3.02 item 9.01

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 $61,000 with an investor at 8% per annum maturing April 12, 2024.

Instrument: convertible notes
Principal: $61,000
Counterparty: an investor
Rate: 8% per annum
Maturity: April 12, 2024
Event: incurrence

Exact text from the filing

On October 12, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “Investor”), pursuant to which the Investor agreed to purchase a convertible redeemable promissory note from the Company in the aggregate principal amount of $61,000 (the “Note”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Propanc Biopharma, Inc. entered into Purchase Agreement with Investor valued at $61,000 (effective 2023-10-12).

Action: entry
Agreement: equity purchase
Counterparty: Investor
Value: $61,000
Effective: 2023-10-12

Exact text from the filing

On October 12, 2023, Propanc Biopharma, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an investor (the “Investor”), pursuant to which the Investor agreed to purchase a convertible redeemable promissory note from the Company in the aggregate principal amount of $61,000 (the “Note”), for a purchase price of $57,500.

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 0001493152-23-037423

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