Reborn Coffee Stock Price, News & Analysis

Reborn Coffee, Inc. (NASDAQ: REBN) announced a Memorandum of Understanding with COLLECTIVE PROJECT SDN BHD to develop a joint venture in Southeast Asia, signed on January 15, 2023. This partnership aims to expand Reborn's specialty coffee brand, leveraging COLLECTIVE's experience in sourcing and roasting high-quality coffee. The initial flagship store will open in Kuala Lumpur, Malaysia, in February 2023, with plans for further expansions in Singapore and Jakarta. Reborn anticipates significant growth opportunities, driven by rising middle-class consumer demand for specialty coffee in the region.

Reborn Coffee, Inc. (NASDAQ: REBN) announced the opening of new company-owned retail locations in Southern California and Korea, increasing its global footprint to 14 stores. The new Pasadena location will cater to a vibrant community with over 30,000 students, while the Irvine site will feature a full kitchen and outdoor patio. In Korea, a flagship store and roasting R&D facility will support franchise expansion, aiming to attract local customers with in-house products. CEO Jay Kim emphasized the strategic nature of these locations in expanding market reach and enhancing customer experience.

Reborn Coffee (NASDAQ: REBN) announced a strategic acquisition in Daejeon, South Korea, aiming to enhance its global presence. The company signed a binding Letter of Intent to acquire a specialty coffee shop and a roasting R&D facility, collectively generating approximately $400,000 in annual sales. This location will serve as a flagship store and headquarters for the franchise program in Korea. The initiative represents Reborn's first significant move into the Asia-Pacific market, with plans to increase sales through marketing and in-house product offerings.

Reborn Coffee, Inc. (NASDAQ: REBN) reported Q3 2022 financial results with revenues of $0.8 million, a 22% increase from $0.7 million in Q3 2021. For the nine-month period, revenues surged 52% to $2.4 million compared to $1.6 million in 2021. The company plans to open five new retail locations in Southern California, aiming for a total of 14 stores. After an IPO that raised $6.2 million, Reborn is set to expand into B2B markets with new products. Despite a net loss of $0.9 million in Q3 2022, cash reserves improved to $4.7 million.

Reborn Coffee, Inc. (NASDAQ: REBN) will participate in the LD Micro Main Event XV Conference from October 25-27, 2022, at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. CEO Jay Kim and CFO Stephan Kim will hold one-on-one meetings and present on October 26 at 11:30 am PT (2:30 pm ET) in TRACK 4. The presentation will be webcast live and available for replay on the Reborn investor relations website. Interested parties can contact the conference representative for meeting arrangements.

Reborn Coffee (NASDAQ: REBN) announced plans to open five new retail locations in Southern California, expanding its footprint to fourteen stores. New locations include Cabazon, Huntington Beach, and Irvine in late 2022, with Mission Viejo opening in early 2023. These strategic placements focus on high-traffic shopping areas to enhance customer experience and loyalty. Supported by recent IPO capital, the company aims to increase sales and expand its market share while emphasizing innovation and quality in coffee offerings.

Reborn Coffee (NASDAQ: REBN) completed a $7.2 million initial public offering in Q3 2022, raising $6.2 million in net proceeds. Revenue surged 63% to $0.8 million in Q2 2022, driven by new retail locations and strong customer demand. The company plans to develop four additional retail locations in Southern California, expanding its footprint and enhancing shareholder value. However, total operating costs increased by 115%, leading to a net loss of $0.9 million. The company anticipates sufficient cash to support operations into 2023 and is committed to further expanding its retail presence.

Reborn Coffee, Inc. (Nasdaq: REBN) announced the closure of its upsized initial public offering (IPO) of 1,440,000 shares at $5.00 per share, generating approximately $7.2 million in gross proceeds. Additionally, underwriters received a 45-day option to purchase 216,000 additional shares to cover over-allotments. The proceeds will be used to open new retail locations and develop a franchise program. Trading for REBN began on August 12, 2022. EF Hutton acted as the sole book-running manager for the offering.

Reborn Coffee, Inc. (Nasdaq: REBN) announced the pricing of its upsized IPO, offering 1,440,000 shares at $5.00 each, aiming for gross proceeds of approximately $7.2 million. An additional option for underwriters to purchase 216,000 shares is included. Trading is set to commence on August 12, 2022, with the transaction expected to close around August 16, 2022. Proceeds will be utilized for opening new retail locations, developing a franchise program, and general corporate needs. EF Hutton is the sole book-running manager for the offering.