Propanc Biopharma Inc
Filed Oct 30, 2024.
View on SEC.govAbout this filing
A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Oct 30, 2024
Contents
Cover page
Show cover page
As filed with the Securities and Exchange Commission on October 29, 2024
Registration Statement No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORMS-1
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
PROPANC BIOPHARMA, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 2834 | 33-0662986 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification No.) |
302,6 Butler Street
Camberwell, VIC 3124 Australia
+61 03 9882 0780
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
James Nathanielsz
Chief Executive Officer
Propanc Biopharma, Inc.
302,6 Butler Street
Camberwell, VIC 3124 Australia
+61 03 9882 0780
(Name, address, including zip code, and telephone number, including area code, of agent for service)
| With copies to: | |
|---|---|
| Chase Chandler, Esq. Callie Jones, Esq. Brunson Chandler & Jones 175 S. Main Street Suite 1410 Salt Lake City, UT 84111 (801) 303-5772 | Ross Carmel, Esq. Jay Yamamoto, Esq. Sichenzia Ross Ference Carmel LLP 1185 6th Ave 31st Floor New York, NY 10036 (212) 930-9700 |
Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: ☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☐ |
|---|---|
| Non-accelerated filer ☒ | Smaller reporting company ☒ |
| 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 7(a)(2)(B) of the Securities Act. ☐
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The information in this preliminary prospectus is not complete and may be changed. We and may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
| PRELIMINARY PROSPECTUS | SUBJECT TO COMPLETION | OCTOBER 29, 2024 |
|---|
PROPANC BIOPHARMA, INC.
1,500,000 Units
Each Unit Consisting of
One Share of Common Stock and
One Warrant to Purchase One Share of Common Stock
We are offering 1,500,000 units (“Units”), each consisting of one share of common stock, par value $0.001 (“Common Stock”) of Propanc Biopharma, Inc. (the “Company,” “Propanc,” “we,” “our,” or “us”), and one warrant to purchase one share of Common Stock. We are offering each Unit at an estimated public offering price at $[ ] per Unit. Each warrant will have an estimated exercise price equal to $[ ] per share (115% of the assumed public offering price of $[ ] per Unit), is exercisable immediately and will expire 5 years from the date of issuance.
There is currently a limited public trading market for our Common Stock. Our Common Stock is currently quoted on the OTC Pink Marketplace operated by the OTC Markets Group Inc. (“OTC”) under the symbol “PPCB.” In connection with this offering, we have applied to have our Common Stock listed on the Nasdaq Capital Market under the symbol “PPCB.” No assurance can be given that our listing application will be approved or, if we receive approval, that a trading market will develop, if developed, that it will be sustained, or that the trading prices of our Common Stock on the OTC will be indicative of the prices of our Common Stock if our Common Stock were traded on the Nasdaq Capital Market. If our listing application is not approved by The Nasdaq Stock Market LLC (“Nasdaq”), we will not consummate the offering and will terminate this offering. The public offering price per share will be determined at the time of pricing and may be at a discount to the current market price. The recent market price used throughout this prospectus may not be indicative of the final offering price. We do not intend to list the Units or the Warrants on the Nasdaq or any other national securities exchange or any other trading system.
On October 29, 2024, 2024, the last reported sales price for our Common Stock as quoted on the OTC was $0.00035 ($21.00 assuming a reverse stock split of 1-for-60,000) per share.
Unless otherwise noted and other than in our historical financial statements and the notes thereto, the share and per share information in this prospectus reflects the proposed reverse split of the outstanding Common Stock and treasury stock of the Company at an assumed 1- for- 60,000 ratio, which is anticipated to occur prior to the closing of the offering.
While we may be a “controlled company” under the rules of Nasdaq, immediately after consummation of this offering, we do not intend to avail ourselves of the corporate governance exemptions afforded to a “controlled company” under the rules of Nasdaq. See “Risk Factors—Risks Related to Our Common Stock and this Offering.”
Investing in our securities involves a high degree of risk. See “Risk Factors” beginning on page 7 of this prospectus. You should carefully consider these risk factors, as well as the information contained in this prospectus, before purchasing any of the securities offered by this prospectus.
| Per Unit | Total | ||
| Offering price | $ | $ | |
|---|---|---|---|
| Underwriter’s discounts and commissions (1) | $ | $ | |
| Proceeds to our company before expenses (2) | $ | $ |
| (1) | We have agreed to reimburse EF Hutton, division of Benchmark Investments, Inc., the representative of the underwriters (“EF Hutton” or the “Representative”), for certain expenses. See “Underwriting” on page 80 for additional information regarding total underwriter compensation. |
| (2) | The amount of offering proceeds to us presented in this table does not give effect to any exercise of the Underwriters’ Over-Allotment Option we have granted to the underwriters as described below. |
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
We have granted a 45-day option to the Representative, exercisable one or more times in whole or in part, to purchase up to [ ] additional shares of Common Stock at a public offering price of $[ ] per share and/or Warrants to purchase up to a total of [ ] shares of Common Stock at $[ ] per Warrant, less the underwriting discounts payable by us, in any combination solely to cover over-allotments, if any. The securities issuable upon exercise of this overallotment option are identical to those offered by this prospectus and have been registered under the registration statement of which this prospectus forms a part.
The underwriters expect to deliver the securities against payment in New York, New York on or about __, 2024.
Sole Book-Running Manager
EF Hutton LLC
The date of this prospectus is [ ], 2024.
TABLE OF CONTENTS
| Page | |
|---|---|
| Prospectus Summary | 1 |
| Summary of Offering | 4 |
| Summary of Consolidated Financial Information | 5 |
| Risk Factors | 7 |
| Cautionary Note Regarding Forward-Looking Statements | 7 |
| Use of Proceeds | 31 |
| Market for Our Common Stock and Related Stockholder Matters | 31 |
| Capitalization | 33 |
| Dilution | 34 |
| Management’s Discussion and Analysis of Financial Condition and Results of Operations | 35 |
| Business | 41 |
| Management | 59 |
| Executive Compensation | 63 |
| Description of Our Securities | 69 |
| Shares Eligible for Future Sale | 74 |
| Material U.S. Federal Income Tax Considerations | 75 |
| Underwriting | 80 |
| Legal Matters | 87 |
| Experts | 87 |
| Where You Can Find More Information | 87 |
Through and including__________________, 2024 (the 25 th day after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers’ obligation to deliver a prospectus when acting as underwriter and with respect to their unsold allotments or subscriptions.
No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus. You must not rely on any unauthorized information or representations. This prospectus is an offer to sell only the shares of Common Stock offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of its date.
You should rely only on the information contained in this prospectus. Neither we nor the Underwriters have authorized anyone to provide any information or to make any representations other than those contained in this prospectus we have prepared. We take no responsibility for and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of its date. You should also read this prospectus together with the additional information described under “Where You Can Find More Information.”
Unless the context otherwise requires, we use the terms “we,” “us,” “Company,” “Propanc Biopharma,” and “our” to refer to Propanc Biopharma, Inc. and its consolidated subsidiaries.
Solely for convenience, our trademarks and tradenames referred to in this prospectus, may appear without the ® or ™ symbols, but such references are not intended to indicate in any way that we will not assert, to the fullest extent under applicable law, our rights to these trademarks and tradenames. All other trademarks, service marks and trade names included or incorporated by reference into this prospectus, or the accompanying prospectus are the property of their respective owners.
i
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.