12/05/2025 | Press release | Distributed by Public on 12/05/2025 16:01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On December 2, 2025, Reborn Coffee, Inc., a Delaware corporation (the "Company") received a notification letter (the "Letter") from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has scheduled the Company's securities for delisting from The Nasdaq Capital Market. The Company's securities will be suspended at the opening of business on December 11, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Capital Market.
This Letter was sent pursuant to an earlier notification letter dated May 29, 2025, warning the Company that it was out of compliance with Nasdaq Listing Rule 5550(b)(1), which requires that the Company maintain stockholders' equity of at least $2,500,000 (the "Equity Rule"). The Company was provided with 180 calendar days, or until November 25, 2025, to regain compliance pursuant to Rule 5810(c)(3)(A).
Pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 series, the Company may appeal Nasdaq's determination to a Hearings Panel (the "Panel"). A hearing request will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. Upon paying the non-refundable $20,000 fee, the Company will have an opportunity to present a plan to regain compliance to the Panel. The Company intends to request a hearing but there can be no assurance that Nasdaq will grant the Company's request for approval of its compliance plan or otherwise reverse Nasdaq's determination that the Company's securities ought to be delisted.
The Company, by filing this Current Report on Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b).