Reborn Coffee, Inc 8-K, filed Oct 17, 2023
Reborn Coffee, Inc. (REBN)
About this 8-K
Reborn Coffee, Inc filed this 8-K on October 17, 2023, reporting on events of October 12, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements or Certain Officers.
Increase in Board Size
On October 12, 2023, the Board of Directors (the “Board”) of Reborn Coffee, Inc. (the “Company”) increased the size of the Board from five members to six members.
Appointment of Jennifer Tan
On October 12, 2023, the Board appointed Jennifer Tan to fill the vacancy on the Board created by the increase in Board size. Ms. Tan will serve on the Board until the Company’s next annual stockholder meeting or until her successor has been duly appointed and qualified or until her earlier death, resignation, retirement, disqualification, removal from office or other cause. She will not serve on any of the committees of the Board.
Jennifer Tan has over 30 years’ experience as a global entrepreneur in diversified businesses in the U.S., Europe and Asia. Since 2020, she has served as Chief Executive Officer of Hawaii Volcano Tea LP, a tea farm with multiple locations in the Volcano area of Hawaii Island. From 2009 to 2019, Ms. Tan served as Managing Director of Tutti Frutti (China) Limited, developing and executing marketing plans for Tutti Frutti Frozen Yogurt stores on both corporate-owned and franchise retail stores in China, Hong Kong and Macau. From 1997 to 2001, she served as the Managing Director of International Golf & Yacht Club (Hong Kong) Limited and Mass Star Development Limited.
Ms. Tan will not be compensated for her service on the Board.
There are no family relationships between Ms. Tan and any director or executive officer of the Company and she was not selected by the Board to serve as a director pursuant to any arrangement or understanding with any person. Ms. Tan has not engaged in any transaction that would be reportable as a related party transaction under Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure
On October 12, 2023, the Company issued a press release announcing the appointment of Jennifer Tan. A copy of the press release is furnished herewith as Exhibit 99.1 to the Current Report on Form 8-K. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated October 12, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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: October 17, 2023
| REBORN COFFEE, INC. | ||
| By: | /s/ Jay Kim | |
| Name: | Jay Kim | |
| Title: | Chief Executive Officer | |
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Exhibit 99.1
Reborn Coffee Appoints Global Entrepreneur Jennifer Tan to Board of Directors
Unique Volcanic Tea Experience to Support Expansion of Premium Tea Products
NEWS PROVIDED BY
REBORN COFFEE, INC.
Oct 12, 2023, 8:31 AM ET
BREA, Calif., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a California-based retailer of specialty coffee, today announced the appointment of Jennifer Tan to its Board of Directors.
Jennifer Tan has over 30 years’ experience as a global entrepreneur in diversified businesses in the U.S., Europe and Asia. She is currently Chief Executive Officer of Hawaii Volcano Tea LP, a tea farm with multiple locations in the Volcano area of Hawaii Island. The company owns tea plantations with a greenhouse for cultivation and factory for the processing of high-quality tea product lines. Previously she was Managing Director of Tutti Frutti (China) Limited, developing and executing marketing plans for Tutti Frutti Frozen Yogurt stores on both corporate-owned and franchise retail stores in China, Hong Kong and Macau. Ms. Tan was also Managing Director of International Golf & Yacht Club (Hong Kong) Limited and Mass Star Development Limited.
“Jennifer’s expertise in global business, especially her tenure in the premium tea sector, make her an invaluable addition to our Board,” said Jay Kim, Chief Executive Officer of Reborn Coffee. “We believe her broad experience executing business plans, including marketing frozen yogurt shops in Asia, will be important as we drive growth and expansion internationally. We are confident that her insights will be instrumental in helping to steer Reborn Coffee through the dynamic global coffee and tea markets.
“Jennifer will also be valuable in enhancing our brand’s loose leaf and specialty tea product lines and incorporating the premium teas from Hawaii Volcano Tea into Reborn Coffee’s offerings. Tea continues to grow in popularity as an alternative to coffee products for health consciousness consumers, including organic tea variants and region-specific varieties such as Hawaiian volcanic tea in which the volcanic soil imparts a distinctive flavor and quality to the tea. We continue to seek out opportunities to diversify our product portfolio and reinforce our commitment to offering unparalleled, premium products to our customers,” concluded Kim.
About Reborn Coffee
Reborn Coffee, Inc. (NASDAQ: REBN) is focused on serving high quality, specialty-roasted coffee at retail locations, kiosks, and cafes. Reborn is an innovative company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Reborn believes they differentiate themselves from other coffee roasters through innovative techniques, including sourcing, washing, roasting, and brewing their coffee beans with a balance of precision and craft. For more information, please visit www.reborncoffee.com.
Forward-Looking Statements
All statements in this release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recent filings with the Securities and Exchange Commission (“SEC”) including our Form 10-Q for the second quarter of 2023, which can be found on the SEC’s website at www.sec.gov. Such risks, uncertainties, and other factors include, but are not limited to, the Company’s ability to continue as a going concern as indicated in an explanatory paragraph in the Company’s independent registered public accounting firm’s audit report as a result of recurring net losses, among other things, the Company’s ability to successfully open the additional locations described herein as planned or at all, the Company’s ability to expand its business both within and outside of California (including as it relates to increasing sales and growing Average Unit Volumes at our existing stores), the degree of customer loyalty to our stores and products, the impact of COVID-19 on consumer traffic and costs, the fluctuation of economic conditions, competition and inflation. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
REBN@mzgroup.us
949-491-8235
Company Contact:
Reborn Coffee, Inc.
ir@reborncoffee.com