Saturday 13 April 2024
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Reborn Coffee closes $1.0 million private placement equity investment from accredited investor

At the closing, the Company issued 444,445 shares of the Company’s common stock for gross proceeds of approximately $1,000,000 for a purchase price $2.25 per share. Reborn Coffee intends to use these proceeds for working capital and general corporate purposes

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DESCAMEX COFFELOVERS 2024
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BREA, Calif., USA – Reborn Coffee, Inc., a California-based retailer of specialty coffee, today announced the closing of a non-brokered $1.0 million private placement investment from accredited investor, Mr. Scott Lee.

At the closing, the Company issued 444,445 shares of the Company’s common stock for gross proceeds of approximately $1,000,000 for a purchase price $2.25 per share. Reborn Coffee intends to use these proceeds for working capital and general corporate purposes.

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Mr. Scott Lee is an “accredited investor,” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933. Mr. Lee is currently the CEO of Walking Slow Entertainment and boasts an impressive track record of managing numerous Korean KOSDAQ-listed companies in South Korea. His extensive experience in the business landscape is matched by a forward-thinking vision that seeks to intertwine the coffee lifestyle with K-pop culture.

“This private equity investment allows Reborn Coffee to continue expanding its footprint both in the U.S. and internationally,” said Jay Kim, Chief Executive Officer of Reborn.

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“This investment marks another inflection point for our Company as we continue to establish Reborn as a leader in the coffee industry. We believe Scott’s innovative approach to infuse Reborn Coffee with the universal appeal of K-pop to enhance the coffee-drinking experience and establish a unique cultural phenomenon in the industry is unparalleled.”

Further details regarding this private placement can be found in Reborn Coffee’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 29, 2024.

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