Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma raises $46,875 via convertible note at 35% discount and 8% interest

Propanc Biopharma, Inc.

Principal amount $50,000; purchase price $46,875; net proceeds for working capital.
Conversion price = 65% of lowest closing trade price over prior 10 trading days (35% discount).
Interest 8% per annum (16% on default); maturity March 1, 2024 (same as issuance date).
Prepayment rights within 180 days at 110% to 125% premium; no prepayment after 180 days.
Note issued under Regulation D, unregistered; subject to 4.99% beneficial ownership limitation.

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 $50,000 with an investor at eight percent (8%) per annum, which may be increased to sixteen percent (16%) in maturing March 1, 2024.

Instrument: convertible notes
Principal: $50,000
Counterparty: an investor
Rate: eight percent (8%) per annum, which may be increased to sixteen percent (16%) in
Maturity: March 1, 2024
Event: incurrence

Exact text from the filing

Effective March 5, 2024, 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 $50,000 (the “Note”), for a purchase price of $46,875.

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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 valued at $50,000 (effective 2024-03-05).

Action: entry
Agreement: equity purchase
Counterparty: an investor
Value: $50,000
Effective: 2024-03-05

Exact text from the filing

Effective March 5, 2024, 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 $50,000

View on SEC.gov

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

Propanc Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009536

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