Propanc Biopharma issues $45K convertible note with 35% discount conversion

Propanc Biopharma, Inc.

Principal $45,000; maturity Sept 15, 2024; interest 8% (22% default); issued to 1800 Diagonal Lending LLC.
Conversion price at 35% discount to avg of lowest 3 trading prices over 10 days prior; 4.99% beneficial ownership cap.
Company may prepay within 180 days at escalating premiums: 110% to 129% of principal plus interest.
Proceeds for general working capital; company also pays $5,000 buyer's legal/due diligence fees.
Note issued under Section 4(a)(2)/Reg D private placement exemption.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Propanc Biopharma, Inc. entered into Purchase Agreement with an investor valued at $45,000 (effective 2023-12-04).

Action: entry
Agreement: equity purchase
Counterparty: an investor
Value: $45,000
Effective: 2023-12-04

Exact text from the filing

Effective December 4, 2023, Propanc Biopharma, Inc. (the “Company”) entered into and closed 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 $45,000 (the “Note”), for a purchase price of $45,000.

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Propanc Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-044022

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