Reborn Coffee completes private placement of convertible note

Reborn Coffee announced an investment of $500,000 through a convertible note issued to Quen Inno Tech Co., Ltd. The convertible note is convertible into shares of Reborn Coffee’s common stock at a price equal to $3.36 per share. The convertible note accrues interest at an annual rate of 0%; however, the interest rate will increase to an annual rate of 10% upon the occurrence of an event of default. This strategic investment highlights the growing confidence in Reborn Coffee’s business model and future growth prospects. The investment by Quen Inno Tech Co., Ltd. is a strong vote of confidence for the company’s vision and operational strength.