Propanc Biopharma, a biotech company developing therapies aimed at preventing cancer relapse, has announced a strategic financing agreement with investment firm Hexstone Capital worth up to $100 million.
The initial phase of the deal includes a $1 million investment through the issuance of Series C preferred shares, which can later be converted into common stock. Each preferred share is convertible at $5 per share, representing a 280% premium over Propanc’s recent closing price. The terms also include ownership limits and alternative conversion options detailed in filings with the SEC.
In addition, Hexstone Capital will receive 9,900 warrants to purchase additional preferred shares, enabling the company to access up to $99 million in potential future funding. Propanc has the flexibility to activate up to 500 warrants per month, providing structured access to capital under pre-agreed conditions.
This infusion of capital positions Propanc to accelerate its R&D pipeline and strengthen its strategic initiatives, while offering investors a structured, high-potential opportunity in the biotech sector.
