Reborn Coffee Raises $6.5 Million in Private Placement of Common Stock

Reuters01-06
<a href="https://laohu8.com/S/REBN">Reborn Coffee</a> Raises $6.5 Million in Private Placement of Common Stock

Reborn Coffee Inc. has announced the completion of a private placement and unregistered sale of shares as part of its efforts to regain compliance with Nasdaq’s Stockholders’ Equity Requirement. Under a Securities Subscription Agreement with accredited investor Charles Jeong, the company issued 1,192,661 shares of common stock for gross proceeds of $6,500,000, priced at $5.45 per share. Additionally, Reborn Coffee entered into a warrant exchange and termination agreement with Arena Investors, issuing 185,771 shares of common stock in exchange for the cancellation of outstanding warrants, thereby eliminating an estimated $1,308,194 of derivative liability. The shares were issued pursuant to exemptions from registration under the Securities Act.

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