Reborn Coffee elects directors and ratifies auditor at annual meeting

Reborn Coffee, Inc. (NASDAQ:REBN) held its annual meeting of stockholders on Thursday. According to a statement released through a Securities and Exchange Commission filing, shareholders voted on two main proposals. The micro-cap coffee chain, currently valued at just $10.56 million, has seen its stock surge 19.59% over the past week despite facing significant financial challenges.

The first proposal involved the election of directors. Shareholders elected Farooq M. Arjomand, Jay Kim, Dennis R. Egidi, Jung Jae Lim, Andy Nasim, Mi Young Jeong, and Alex Guo to the company’s board of directors. Each director will serve until the 2026 annual meeting or until a successor is appointed or qualified. Vote totals for each nominee ranged from 2,790,132 to 2,833,774 shares in favor, with votes withheld between 28,723 and 106,537 shares.

The second proposal was the ratification of BCRG Group as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. Shareholders approved this proposal with 4,048,719 votes in favor, 75,372 votes against, and 1,321 abstentions.

A third proposal, which would have allowed for the adjournment of the annual meeting to solicit additional proxies if required, was withdrawn. The withdrawal occurred because the first two proposals were approved by shareholders.

The meeting achieved a quorum, with holders of 4,125,412 shares present in person or by proxy, representing 69.13% of the company’s outstanding common stock as of the record date, October 2, 2025.

This information is based on a press release statement filed with the SEC.

In other recent news, Reborn Coffee announced that Stephan Kim has resigned from his position as Chief Financial Officer, with CEO Jay Kim stepping in to fulfill the CFO duties on an interim basis. This change is not due to any disagreements regarding company operations or financial practices. Additionally, Reborn Coffee has formed a new advisory board, appointing attorney Hisham Elkoustaf as its chair to guide the company’s strategic direction with a focus on sustainability and quality. The company also reported changes to its board of directors, with Sehan Kim and Jennifer Tan resigning, citing no disagreements with company operations or policies.

In terms of strategic initiatives, Reborn Coffee is set to pilot a digital asset ATM at one of its Southern California stores, allowing transactions in Bitcoin and select stablecoins. This move is part of their broader digital asset strategy. Furthermore, the company plans to test cryptocurrency payment capabilities at select locations in 2025, integrating this functionality into its current point-of-sale system. These developments highlight Reborn Coffee’s ongoing efforts to innovate and adapt to new technological trends.

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