Reborn Coffee announced the closing of its previously announced non-brokered $1 million private placement investment from its Chairman, Farooq Arjomand. At the closing, the Company issued 1,666,667 shares of the Company’s common stock for proceeds of $1,000,000 for a purchase price $0.60 per share. Reborn Coffee intends to use these proceeds for working capital and general corporate purposes.
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