Reborn Coffee Terminates Material Agreement
Ticker: REBN · Form: 8-K · Filed: Feb 11, 2025 · CIK: 1707910
| Field | Detail |
|---|---|
| Company | Reborn Coffee, Inc. (REBN) |
| Form Type | 8-K |
| Filed Date | Feb 11, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $5,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, material-event
TL;DR
Reborn Coffee just terminated a big deal. Big changes ahead?
AI Summary
Reborn Coffee, Inc. announced on February 5, 2025, the termination of a material definitive agreement. The company, formerly known as CAPAX INC., is incorporated in Delaware and headquartered in Brea, California.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement introduces uncertainty and potential financial or operational repercussions.
Key Players & Entities
- Reborn Coffee, Inc. (company) — Registrant
- CAPAX INC. (company) — Former company name
- February 5, 2025 (date) — Date of earliest event reported
- February 11, 2025 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Brea, CA (location) — Principal executive offices
FAQ
What was the specific material definitive agreement that was terminated?
The filing states the termination of a material definitive agreement but does not specify which agreement it is.
What are the reasons for the termination of this agreement?
The filing does not provide the reasons for the termination of the material definitive agreement.
What is the effective date of the termination?
The earliest event reported is February 5, 2025, which is likely related to the termination.
Will this termination have a material impact on Reborn Coffee's financial performance?
The filing does not explicitly state the financial impact, but the termination of a material agreement typically suggests a potential impact.
Are there any penalties or obligations associated with this termination?
The filing does not detail any penalties or obligations resulting from the termination.
Filing Stats: 521 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2025-02-11 17:00:00
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share REBN The Nasdaq
- $5,000,000 — obligation, to sell to Yorkville up to $5,000,000 of the Company's Common Stock, at the C
Filing Documents
- ea0230699-8k_reborn.htm (8-K) — 24KB
- 0001213900-25-012265.txt ( ) — 191KB
- rebn-20250205_lab.xml (EX-101.LAB) — 33KB
- rebn-20250205_pre.xml (EX-101.PRE) — 22KB
- rebn-20250205.xsd (EX-101.SCH) — 3KB
- ea0230699-8k_reborn_htm.xml (XML) — 3KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. As previously reported, on February 12, 2024, Reborn Coffee, Inc. (the "Company") entered into Standby Equity Purchase Agreement (the "SEPA") with YA II PN, Ltd., a Cayman Islands exempt limited partnership ("Yorkville"), pursuant to which the Company had the right, but not the obligation, to sell to Yorkville up to $5,000,000 of the Company's Common Stock, at the Company's request any time during the commitment period commencing on February 12, 2024 and terminating on March 1, 2027. On February 5, 2025, the Company sent notice to Yorkville terminating the SEPA effective as of February 12, 2025. Pursuant to the SEPA, the Company had the right to terminate the SEPA at any time upon five trading days' prior notice. The Company sold no shares to Yorkville under the SEPA, other than the 64,656 shares of Common Stock issued to Yorkville as consideration for its commitment to purchase shares of Common Stock under the SEPA. The Company incurred no penalties or fees as a result of the termination. 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 11, 2025 REBORN COFFEE, INC. By: /s/ Jay Kim Name: Jay Kim Title: Chief Executive Officer 4