Reborn Coffee enters $1.1M pre-paid advance and $5M standby equity facility

Reborn Coffee, Inc.

Pre-paid advance of $1,100,000 from EF Hutton YA Fund at 90% of face (net $990k); floor price $0.46.
Investor can require shares at lower of fixed price or 87% of lowest VWAP over 5 trading days; 0% interest.
Standby equity purchase agreement with Yorkville for up to $5,000,000 over 36 months at 95-96% of market price.
Commitment fee of $150,000 paid in shares; 4.99% beneficial ownership cap; no short sales.
Amortization event triggers $500k cash repayment plus 10% premium if VWAP below floor for 5 of 7 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Reborn Coffee, Inc. entered into Pre-Paid Advance Agreement with EF Hutton YA Fund, LP valued at $1,100,000 (effective 2024-02-12).

Action: entry
Agreement: equity purchase
Counterparty: EF Hutton YA Fund, LP
Value: $1,100,000
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, Reborn Coffee, Inc. (the “Company”) entered into a Pre-Paid Advance Agreement (the “PPA”) with EF Hutton YA Fund, LP, a Delaware limited partnership (the “Investor”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Reborn Coffee, Inc. entered into Standby Equity Purchase Agreement with YA II PN, Ltd. valued at up to $5,000,000 (effective 2024-02-12).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, Ltd.
Value: up to $5,000,000
Effective: 2024-02-12

Exact text from the filing

on February 12, 2024, the Company entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, Ltd., a Cayman Islands exempt limited partnership (“Yorkville”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

Reborn Coffee, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-012688

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