Reborn Coffee issues $833K convertible debenture with 10% OID, warrants, and incentive shares

Reborn Coffee, Inc.

Fourth tranche of $10M SPA closed; $833,333 principal purchased for $750,000 (10% OID).
Issued 136,483 warrants and $175,000 incentive shares (based on VWAP) to Arena Investors.
Proceeds: $100–250K for marketing, $500K for payroll (~2.5 months), $100K for aged payables, rest for franchise.
Failure to allocate proceeds as agreed is an event of default under all outstanding debentures.
Convertible at 92.5% of lowest 5-day VWAP; warrants exercisable at similar formula.

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