debt
confidence high
sentiment negative
materiality 0.40
Propanc Biopharma raises ~$180k via convertible notes and board loan; conversion at deep discounts
Propanc Biopharma, Inc.
- $55k face convertible note issued at $50k (original issue discount) to GS Capital Partners; conversion price $5.00, drops to $2.50 if stock below $4 for 5 days.
- $79.2k convertible note issued with 15% one-time interest; conversion at 65% of lowest trading price after default (35% discount).
- $63k AUD loan from board member at 12% interest, due June 30, 2025; all proceeds for working capital.