Form 8-K/A - Current report: [Amend]
13 Juin 2024 - 12:10PM
Edgar (US Regulatory)
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Amendment No. 1
0001517681
0001517681
2024-06-03
2024-06-03
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K/A
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): June 3, 2024
PROPANC
BIOPHARMA, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
000-54878 |
|
33-0662986 |
(State
or other jurisdiction
of
Incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
Number) |
302,
6 Butler Street
Camberwell,
VIC, 3124 Australia
(Address
of registrant’s principal executive office) (Zip code)
+61-03-9882-0780
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
N/A |
|
N/A |
|
N/A |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01 Entry into a Material Definitive Agreement.
Effective
June 3, 2024, Propanc Biopharma, Inc. (the “Company”) entered into and closed a loan agreement (the “First Loan”)
with an investor (the “First Investor”), pursuant to which the First Investor loaned the Company an aggregate principal amount
of $20,000 AUD. The Company intends to use the net proceeds therefrom for general working capital purposes.
The
maturity date of the First Loan is June 3, 2025, or sooner at the discretion of the Company, and the First Loan bears an interest rate
of twelve percent (12%) per annum. The Company has the right to prepay in full at any time with no prepayment penalty.
Effective
June 5, 2024, Propanc Biopharma, Inc. (the “Company”) entered into and closed a loan agreement (the “Second Loan”)
with an investor (the “Second Investor”), pursuant to which the Second Investor loaned the Company an aggregate principal
amount of $100,000 AUD. The Company intends to use the net proceeds therefrom for general working capital purposes.
The
maturity date of the Second Loan is June 5, 2025, or sooner at the discretion of the Company, and the Second Loan bears an interest rate
of twelve percent (12%). The Company has the right to prepay in full at any time with no prepayment penalty.
The
foregoing descriptions of each of the Loan do not purport to be complete and are qualified in their entirety by reference to the full
text of each of the Purchase Agreements and the Loans, which are filed as Exhibits 4.1, and 4.2 to this Current Report on Form 8-K (this
“Form 8-K”) and are incorporated herein by reference.
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 First and Second Loan above is incorporated herein
by reference.
Item
3.02 Unregistered Sales of Equity Securities.
The
applicable information disclosed in Item 1.01 of this Form 8-K regarding the issuance of the First Loan and Second Loan is incorporated
herein by reference. The Loans were issued pursuant to the private placement exemption from registration provided by Section 4(a)(2)
of the Securities Act and/or by Rule 506 of Regulation D promulgated thereunder.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits:
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:
June 11, 2024 |
PROPANC
BIOPHARMA, INC. |
|
|
|
|
By: |
/s/
James Nathanielsz |
|
Name: |
James
Nathanielsz |
|
Title: |
Chief
Executive Officer and Chief Financial Officer |
Exhibit
4.1
To: |
Dr
Nick Loizou / Susan Loizou |
|
|
CC: |
Mr.
Josef Zelinger |
|
|
From: |
Mr.
James Nathanielsz |
|
|
Subject: |
Loan
to Propanc Biopharma Inc. |
Dear
Susan Loizou,
The
Board of Directors at Propanc Blopharma Inc. (“Propanc”) confirm acceptance and receipt of funds for the sum of twenty thousand
Australian dollars (AUD 20,000) from Susan Loizou (the “Lender”) of 40 Highland Road, Keilor, Vic 3036 (“address”).
The
loan to Propanc is subject to the following terms & conditions:
|
● |
Amount:
A$20,000.00 |
|
● |
Term:
1 year or less at the discretion of Propanc (the borrower). |
|
● |
Commencement
date: 03 June 2024 |
|
● |
Interest
rate: 12% pa |
Sincerely,
James
Nathanielsz
Chief
Executive Officer
Approved
by,
Dr
Julian Kenyon
Director
Approved
by,
p:
+61(0)39882 0780 a: 302/6 Sutler Street, Camberwell, VIC 3124, AUSTRALIA w : www.propanc.com
Exhibit
4.2
To: |
Mr.
Paul Mazor |
|
|
CC: |
Mr.
Josef Zelinger |
|
|
From: |
Mr.
James Nathanielsz |
|
|
Subject: |
Loan
to Propanc Biopharma Inc. |
Dear
Mr. Mazor,
The
Board of Directors at Propanc Biopharma Inc. (“Propanc’’) confirm acceptance and receipt of funds for the sum of one
hundred thousand Australian dollars (AUD 100,000) from Paul Mazor (the “lender’’) of Apt 2903, 389/1413 The Peak Towers,
M. Kasetsin 9 Rd. Nong Prue, Banglamuang, Chonburi, Thailand 20150 (“address’’).
The
loan to Propanc is subject to the following terms & conditions:
|
● |
Amount:
A$100,000.00 |
|
● |
Term:
1 year or earlier at the discretion of the borrower. |
|
● |
Commencement
date: 05 June 2024 |
|
● |
Interest
rate: 12% pa |
Sincerely,
James
Nathanielsz
Chief
Executive Officer
Approved
by,
Dr
Julian Kenyon
Director
Approved
by,
Mr
Paul Mazor
Investor
p:
+61 (0)3 9882 0780 a: 302/6 Butler Street, Camberwell, VIC 3124, AUSTRALIA w: www.propanc.com
v3.24.1.1.u2
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|
Jun. 03, 2024 |
Cover [Abstract] |
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Document Type |
8-K/A
|
Amendment Flag |
true
|
Amendment Description |
Amendment No. 1
|
Document Period End Date |
Jun. 03, 2024
|
Entity File Number |
000-54878
|
Entity Registrant Name |
PROPANC
BIOPHARMA, INC.
|
Entity Central Index Key |
0001517681
|
Entity Tax Identification Number |
33-0662986
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
302,
6 Butler Street
|
Entity Address, Address Line Two |
Camberwell
|
Entity Address, City or Town |
VIC
|
Entity Address, Country |
AU
|
Entity Address, Postal Zip Code |
3124
|
City Area Code |
+61-03-
|
Local Phone Number |
9882-0780
|
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Propanc Biopharma (PK) (USOTC:PPCBD)
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