Propanc Biopharma Lines Up Up to $100 Million From Hexstone to Launch Digital-Asset Treasury and Speed PRP Toward Trials

Investors reacted to dilution risk as the deal leaves up to $99 million available over the next 12 months.

Overview

Propanc closed an initial $1 million from Hexstone via newly designated Series C convertible preferred stock, with up to $99 million more accessible under the agreement.
The structure includes 9,900 warrants, immediately exercisable for 12 months at $10,000 per preferred share, with the company able to call up to 500 warrants per month subject to conditions.
Management says proceeds will help build a digital-asset treasury and advance lead therapy PRP toward a first-in-human study targeted for the second half of 2026.
Propanc describes Hexstone as a family office with investments across Digital Asset Treasury companies holding assets such as Bitcoin, Ether, Solana, Dogecoin and Injective.
The company filed transaction details in a Form 8-K with the SEC, and coverage reported a one-day Nasdaq share-price drop of about 10.5% following the announcement.