Reborn Coffee (NASDAQ: REBN) Announces Results of Annual Stockholders Meeting

Reborn Coffee, Inc. (NASDAQ: REBN) recently disclosed the outcomes of its annual stockholders meeting, as detailed in a Form 8-K filing with the Securities and Exchange Commission on October 24, 2024.

During the meeting held for the fiscal year that ended on December 31, 2024, stockholders cast their votes on various proposals. Out of the 2,683,490 shares of the company’s common stock, each with a par value of $0.0001 per share, 1,798,335 shares were represented in person or by proxy, constituting approximately 67.01% of the total outstanding shares and thereby satisfying the quorum requirements as per the company’s bylaws.

The key resolutions at the meeting included the election of board members, the ratification of an independent registered public accounting firm, and the approval of the issuance of shares as outlined in the Convertible Promissory Note.

In Proposal No. 1, stockholders elected Farooq M. Arjomand, Jay Kim, Dennis R. Egidi, Sehan Kim, Andy Nasim, and Jennifer Tan to the Board of Directors, who will serve until the 2025 annual meeting, or as per the terms of their appointment or resignation. The voting results indicated strong support for the nominees.

Proposal No. 2 saw the ratification of BCRG Group as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, with resounding approval from the stockholders.

Lastly, Proposal No. 3 involved the approval of issuing shares of common stock to YA II PN, LTD. under the Convertible Promissory Note, surpassing the Exchange Cap as defined in the Note, following Nasdaq Listing Rule 5635(d). The proposal received favorable votes from the majority of stockholders.

The definitive proxy statement, filed with the U.S. Securities and Exchange Commission on September 27, 2024, contains comprehensive details on the aforementioned proposals. The voting results have been finalized, shaping the future course for Reborn Coffee, Inc.

The financial decisions and appointments made at this annual meeting reflect the strategic direction that Reborn Coffee, Inc. aims to undertake in the coming months, as communicated to its stakeholders and the broader market.

The filing signifies an important milestone for the company and its stockholders, outlining the democratic decision-making process within the organization as it charts its future path in the competitive coffee industry.

For further insights, interested parties can access the complete Form 8-K filing on the official SEC website or through the company’s investor relations channel.

It is advisable for investors and market watchers to stay informed about such filings, as they often provide critical updates on corporate governance and strategic decision-making within publicly traded companies.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Reborn Coffee’s 8K filing here.

Reborn Coffee Company Profile

Reborn Coffee, Inc, through its subsidiaries, operates and franchises retail locations, kiosks, and cafes that focus on serving specialty-roasted coffee in California. It purchases, roasts, and sells coffee, tea and other beverages, and various food items. It offers products in various form factors, such as whole bean roasted coffee bags, single-serve drip bags, and pour over packs.