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Lee Scott, a significant shareholder in Reborn Coffee , Inc. (NASDAQ:REBN), sold 49,000 shares of the company’s common stock on February 20, according to a recent SEC filing. The shares were sold at prices ranging from $7.34 to $8.26, totaling approximately $370,000. The timing is notable as REBN has shown remarkable momentum, with a 210% year-to-date return and current trading at $5.15. InvestingPro analysis indicates the stock is currently overbought, with high price volatility and 18 additional key insights available for subscribers. Following this transaction, Scott holds 395,445 shares in the company, representing a significant stake in this $14.7M market cap business.
In other recent news, Reborn Coffee has announced its expansion into Europe with new flagship stores in Vienna, Florence, and Prague. The Prague store is set to open in June 2025, aligning with the city’s peak tourist season to attract international visitors. Meanwhile, the Vienna location aims to blend traditional coffee culture with modern specialty innovations. This European expansion is guided by Reborn Coffee Dubai, which has been pivotal in the brand’s Middle Eastern success. Additionally, Reborn Coffee is seeking franchise and licensing partners in both Europe and the Middle East as part of its growth strategy.
In another development, Reborn Coffee has ended its Standby Equity Purchase Agreement with Yorkville. The agreement, which initially allowed the company to sell up to $5 million of its common stock, was terminated without penalties or fees. Notably, Reborn Coffee did not sell any shares to Yorkville under this agreement, aside from shares issued as a commitment fee. This decision was reported in a recent SEC filing, marking a strategic move in the company’s financial planning.
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