secwatch.observer — SEC 8-K summary
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Issuer:     Reborn Coffee, Inc. (REBN)
CIK:        0001707910
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001213900-24-012688
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1707910/000121390024012688/0001213900-24-012688-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1707910/000121390024012688/ea193416-8k_reborn.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-012688

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer