Propanc Biopharma Enters Material Definitive Agreement
Ticker: PPCB · Form: 8-K · Filed: May 16, 2024 · CIK: 1517681
| Field | Detail |
|---|---|
| Company | Propanc Biopharma, Inc. (PPCB) |
| Form Type | 8-K |
| Filed Date | May 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, pharmaceutical
TL;DR
Propanc Biopharma just signed a big deal, watch for financial moves.
AI Summary
On May 10, 2024, Propanc Biopharma, Inc. entered into a material definitive agreement. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The company is involved in the pharmaceutical preparations industry.
Why It Matters
This filing signals a significant new agreement for Propanc Biopharma, potentially impacting its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks and uncertainties for a company.
Key Players & Entities
- Propanc Biopharma, Inc. (company) — Registrant
- May 10, 2024 (date) — Date of earliest event reported
- 2834 (other) — Standard Industrial Classification Code for Pharmaceutical Preparations
FAQ
What is the nature of the material definitive agreement entered into by Propanc Biopharma, Inc. on May 10, 2024?
The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
What type of financial obligation has Propanc Biopharma, Inc. created?
The filing states the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specifics are not detailed here.
What is Propanc Biopharma, Inc.'s Standard Industrial Classification (SIC) code?
Propanc Biopharma, Inc.'s SIC code is 2834, which corresponds to Pharmaceutical Preparations.
In which jurisdiction was Propanc Biopharma, Inc. incorporated?
Propanc Biopharma, Inc. was incorporated in Delaware.
What is the principal executive office address for Propanc Biopharma, Inc.?
The principal executive office address is 302, 6 Butler Street, Camberwell, VIC, 3124, Australia.
Filing Stats: 600 words · 2 min read · ~2 pages · Grade level 12.5 · Accepted 2024-05-16 06:05:28
Filing Documents
- form8-k.htm (8-K) — 26KB
- ex10-1.htm (EX-10.1) — 17KB
- 0001493152-24-020101.txt ( ) — 211KB
- ppcb-20240510.xsd (EX-101.SCH) — 3KB
- ppcb-20240510_lab.xml (EX-101.LAB) — 33KB
- ppcb-20240510_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On May 10, 2024, Propanc Biopharma, Inc. (the "Company") entered into a Maturity Extension Agreement (the "Extension Agreement") with Ionic Ventures, LLC (the "Ionic"), pursuant to which the Ionic agreed to extend the maturity date of original 10% OID Promissory Note issued on August 15, 2023 (the "Original Note") to September 30, 2024. The maturity date of the Original Note shall be amended retroactively as of November 15, 2023 and both the Company and Ionic acknowledged and agreed that no event of default shall be deemed to have occurred solely by virtue of the Company failing to pay all principal and interest on or before November 15, 2023. All other terms of the Original Note shall continue in full force and effect after the date of the Extension Agreement The foregoing description of the Extension Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Extension Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K (this "Form 8-K") and is incorporated herein by reference.
03 Creation of a Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The applicable information set forth in Item 1.01 of this Form 8-K with respect to the Extension Agreement above is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Maturity Extension Agreement dated May 10, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 15, 2024 PROPANC BIOPHARMA, INC. By: /s/ James Nathanielsz Name: James Nathanielsz Title: Chief Executive Officer and Chief Financial Officer