Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma issues $40K convertible note to 1800 Diagonal Lending

Propanc Biopharma, Inc.

Principal $40,000, convertible at 65% of lowest three trading prices in prior ten trading days.
Interest 8% per annum (22% on default); maturity October 20, 2024.
Company may prepay at 110%-129% premium within first 180 days; no prepayment after that.
Proceeds used for general working capital; funds not yet received as of filing date.
Conversion subject to 4.99% beneficial ownership limitation; 500% initial share reserve required.

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 $40,000 with an investor at 8% per annum, which may be increased to 22% in the event of a default maturing October 20, 2024.

Instrument: convertible notes
Principal: $40,000
Counterparty: an investor
Rate: 8% per annum, which may be increased to 22% in the event of a default
Maturity: October 20, 2024
Event: incurrence

Exact text from the filing

On October 20, 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 promissory note from the Company in the aggregate principal amount of $40,000

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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 $40,000 (effective 2023-10-20).

Action: entry
Agreement: equity purchase
Counterparty: an investor (the "Investor")
Value: $40,000
Effective: 2023-10-20

Exact text from the filing

On October 20, 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 promissory note from the Company in the aggregate principal amount of $40,000 (the "Note")

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10 debt financings filed in the last 30 days. Browse all debt financings →

Propanc Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-038400

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