Reborn Coffee issues $121.9K convertible note with 14% OID and 75% conversion discount

Reborn Coffee, Inc.

Issued a $121,900 promissory note to 1800 Diagonal Lending LLC at a $106,000 purchase price (14% original issue discount).
Note bears 14% one-time interest plus 22% default interest; monthly installments begin July 15, 2025.
Upon default, investor can convert outstanding balance into common stock at 75% of lowest 10-day trading price.
Additional tranches of up to $875,000 may be available subject to further agreement.
Proceeds used for general working capital; placement agent Spartan Capital Securities.

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