Propanc Biopharma, Inc. (PPCB): debt financing — Propanc Biopharma issues $27,500 convertible note to GS Capital Partners

Propanc Biopharma, Inc.

Entered into securities purchase agreement; note principal $27,500 at $25,000 purchase price (original issue discount).
Note bears 8% interest (24% on default), matures October 12, 2024; conversion price initially $0.0017/share.
Conversion price adjusts to $0.001 if stock trades below $0.0014 for 5 consecutive days; default triggers alternate fixed price.
Company may prepay at 110-125% within 180 days; after 180 days no prepayment right.
Note issued under Regulation D private placement; proceeds for general working capital.

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 $27,500 with an investor at eight percent (8%) per annum maturing October 12, 2024.

Instrument: convertible notes
Principal: $27,500
Counterparty: an investor
Rate: eight percent (8%) per annum
Maturity: October 12, 2024
Event: incurrence

Exact text from the filing

Effective April 16, 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 $27,500 (the “Note”), for a purchase price of $25,000.

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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 aggregate principal amount of $27,500 (effective 2024-04-16).

Action: entry
Agreement: equity purchase
Counterparty: an investor (the “Investor”)
Value: aggregate principal amount of $27,500
Effective: 2024-04-16

Exact text from the filing

Effective April 16, 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 $27,500 (the “Note”), for a purchase price of $25,000.

View on SEC.gov

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

Propanc Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-015494

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