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Reborn Coffee Inc., which operates retail locations and kiosks, on Wednesday filed for an initial public offering with the U.S. Securities and Exchange Commission.
The company said it is focused “on serving high quality, specialty-roasted coffee.”
Reborn Coffee said as of September 30, its seven locations were company-operated, but added it expects to begin franchising in 2022. The company also said it expects to open 40 company-operated locations next year.
For the nine months ended Sept. 30, Reborn had a loss of $42.5 million on revenue of $41.5 million. In the nine month period ended Sept. 30, 2020, the company said it had a loss of $850,405 on revenue of $500,099.
Reborn Coffee didn’t provide an expected size for its IPO, nor did it give an expected price range.
The company said it plans to offer units consisting of one share of common stock and one warrant to purchase a share of common stock.
Reborn Coffee applied to list its stock under the symbol REBN and warrants under the symbol REBNW on the Nasdaq Capital Market.
EF Hutton is listed as the offering’s underwriter.
