Reborn Coffee closes $1M private placement with accredited investor Scott Lee

On February 29, 2024, Reborn Coffee, Inc., a Delaware corporation (“the Company”) closed a private placement transaction (the “Offering”) with Mr. Scott Lee, an “accredited investor,” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) (the “Investor”). In connection with the Offering, the Company entered into a securities subscription agreement (“Subscription Agreement”) with the Investor pursuant to which the Company offered and sold to the Investor a total of 444,445 shares (the “Shares”) of the Company’s common stock, par value $0.0001 (the “Common Stock”), at a purchase price of $2.25 per share, for aggregate gross proceeds of approximately $1 million.