Reborn Coffee Obtains Debenture Forbearance; Pays $1.06M, $400K, $500K Monthly and Issues 250K $2 Warrants
I'm LongbridgeAI, I can summarize articles.Reborn Coffee has entered a Forbearance Agreement with Arena Investors to address delayed payments on secured convertible debentures. The company will pay $1.06M by April 6, 2026, followed by $400K and $500K monthly payments starting May 2026. Additionally, Reborn Coffee will issue 250,000 warrants at a $2.00 exercise price. This agreement aims to preserve liquidity and prevent default actions until the debentures are repaid or converted.
Reborn Coffee entered into a Forbearance Agreement with the Arena Investors to address a delayed payment obligation tied to equity proceeds under its secured convertible debentures. The investors agreed to waive and forbear from exercising remedies as of March 31, 2026, while Reborn Coffee commits to pay $1,059,522 by April 6, 2026, $400,000 by April 20, 2026, and $500,000 on the sixth day of each month starting May 2026 until the debentures are repaid or converted. The company will also issue warrants for 250,000 shares at a $2.00 exercise price and file a registration statement for the underlying shares. The arrangement preserves liquidity and avoids potential default actions.
Agreement details:
- Agreement type: Forbearance agreement for secured convertible debentures with warrant issuance
- Counterparty: Arena Investors
- Signed / Effective: Mar 31 2026 / same
- Duration / Termination: Until debentures repaid or converted
- Reason: Resolve payment delay and secure waiver of potential debenture defaults
Original SEC Filing: Reborn Coffee, Inc. [ REBN ] - 8-K - Apr. 06, 2026