Reborn Coffee raises $500K via convertible debentures, secures up to $50M ELOC

Reborn Coffee, Inc.

Issued $555,555 principal of 10% OID secured convertible debentures for $500,000; conversion at 92.5% of 5-day VWAP.
Issued 111,111 warrants exercisable at 92.5% of VWAP, representing 20% of principal per tranche.
Entered ELOC agreement to sell up to $50M of common stock over 36 months at 96% of VWAP; commitment fee of 1.5M shares.
Debentures secured by all assets; subsidiaries guarantee obligations. Registration statement due by April 10, 2025.
First closing on Feb 11, 2025; additional tranches possible up to $10M aggregate principal.

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