Reborn (NASDAQ: REBN), a California-based retailer of specialty coffee, recently announced the closing of its non-brokered $1 million private placement investment from Farooq Arjomand, its chairman. At the closing, the company issued 1,666,667 shares of its common stock for proceeds of $1,000,000 for a purchase price $0.60 per share. Reborn Coffee intends to use the proceeds for working capital and general corporate purposes. “This private equity investment by our Chairman, Farooq Arjomand, reflects his commitment to Reborn Coffee’s mission and vision for the future,” said Jay Kim, chief executive officer of Reborn. “This capital investment marks a pivotal moment for Reborn Coffee as we continue to solidify our position as a leader in the coffee industry, having just recently opened our flagship store in Malaysia and marking the beginning of our international expansion into Southeast Asia and beyond. With this investment of capital, the company is poised to further enhance its product offerings, expand its market reach, and continue to innovate in ways that resonate with coffee lovers worldwide.”
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About Reborn Coffee
Reborn is focused on serving high quality, specialty-roasted coffee at retail locations, kiosks and cafes. Reborn is an innovative company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Reborn believes it differentiates itself from other coffee roasters through innovative techniques, including sourcing, washing, roasting, and brewing its coffee beans with a balance of precision and craft. For more information, visit www.RebornCoffee.com.
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