NEW YORK, USA – Global law firm K&L Gates LLP has advised Reborn Coffee, Inc., a California-based retailer of specialty coffee, on the closing of its upsized initial public offering of 1.44 million shares of its common stock at a public offering price of $5.00 per share, for aggregate gross proceeds of approximately US$7.2 million before underwriting discounts, commissions, and other offering expenses.
In addition, Reborn has granted the underwriters a 45-day option to purchase up to an additional 216,000 shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.
The K&L Gates team that advised Reborn was led by New York partner Matthew Ogurick, and included New York partners Anthony Nolan, Peter Shea, and Jay Buchman, Wilmington partner Lisa Stark, Chicago associate Darina Koleva, and Charlotte associates Marissa Barbalato and France Beard Johnson.
Reborn strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. The company intends to use the net proceeds from the offering to open new company-owned retail locations, to develop a franchise program, and for general corporate purposes.
K&L Gates’ corporate practice is one of the most substantial in the legal industry, with more than 500 lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.
