---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-059271"
form_type: "8-K"
ticker: "REBN"
cik: "0001707910"
company_name: "Reborn Coffee, Inc."
filed_at: "2023-07-24T23:59:59+00:00"
generated_at: "2026-06-13T04:17:47.032304+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Reborn Coffee enters $1M credit facility, appoints Andy Nasim to board

## Summary
- $1.0M credit facility from DRE Inc.; interest prime + 1% (floor 8%), matures May 31, 2025.
- Loan guaranteed by CEO Jay Kim; interest-only payments start July 15, 2023.
- Dennis Egidi resigned from audit and compensation committees due to independence rules.
- Andy Nasim appointed director, fills vacancy; serves on audit and chairs compensation committee.
- Board committees now: audit (Arjomand, Nasim, Kim); comp (Nasim, Arjomand, Kim).

## SEC filing metadata
- accession: 0001213900-23-059271
- form_type: 8-K
- ticker: REBN
- cik: 0001707910
- company_name: Reborn Coffee, Inc.
- filed_at: 2023-07-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1707910/000121390023059271/0001213900-23-059271-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1707910/000121390023059271/ea182257-8k_reborn.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-059271
- JSON: https://secwatch.observer/filing/0001213900-23-059271.json
- Plain text: https://secwatch.observer/filing/0001213900-23-059271.txt

## Key facts
- Debt Financings
  Reborn Coffee, Inc. incurred credit facility of $1.0 million with DRE, Inc maturing May 31, 2025.
  - Instrument: credit facility
  - Principal: $1.0 million
  - Counterparty: DRE, Inc
  - Maturity: May 31, 2025
  - Event: incurrence
  source text: The terms of the Loan Note require DRE, Inc. to provide the Company with a $1.0 million credit facility bearing a variable interest rate and a maturity date of May 31, 2025. The Company is responsible for making interest-only payments starting on July 15, 2023 and will continue to make such interest payments until the maturity date. The Loan Note further specifies that the interest rate payable to DRE is equal to one percentage point in excess of that rate shown in the Wall Street Journal as the prime rate. The interest rate on the Loan Note will therefore change with each change in the prime rate so published. If at any time the Wall Street Journal prime rate is no longer published, then DRE will establish a similar replacement rate in its sole discretion. The terms of the Loan Note also specify that the interest rate will never be less than 8% per year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1707910/000121390023059271/0001213900-23-059271-index.htm
- Executive change
  Andy Nasim was appointed as Director at Reborn Coffee, Inc..
  - Action: appointed
  - Role: Director
  source text: On July 13, 2023, the Board appointed Andy Nasim as a director of the Company, effective immediately
  evidence_url: https://www.sec.gov/Archives/edgar/data/1707910/000121390023059271/0001213900-23-059271-index.htm
- Material Agreements
  Reborn Coffee, Inc. entered into Loan Note with DRE, Inc. valued at $1.0 million (effective 2023-06-01).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: DRE, Inc.
  - Value: $1.0 million
  - Effective: 2023-06-01
  source text: On June 1, 2023, Reborn Global Holdings, Inc., a California corporation and subsidiary of Reborn Coffee, Inc., a Delaware corporation (the “Company”) entered into a debt agreement (the “Loan Note”) with DRE, Inc, a Illinois corporation (“DRE”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1707910/000121390023059271/0001213900-23-059271-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.