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Reborn Coffee Enhances Supply Agreement with Visvita, Targeting $30M Annual Supply
Reborn Coffee announced that it has enhanced its master product supply agreement with Visvita. The upgraded framework secures robust South Korean & Vietnamese manufacturing infrastructure and an expanded global supply chain to fulfill its $30M annual product supply target. Under the newly defined manufacturing and operational framework, Visvita Corporation provides its intellectual property to its South Korean entity, Visvita Korea. Simultaneously, Reborn Coffee enters into direct manufacturing agreements with leading South Korean and Vietnamese Original Equipment Manufacturer partners, forming an integrated tri-party agreement involving Visvita Korea. This structure ensures stable, high-quality, and scalable production directly out of South Korea.
Reborn Coffee Signs $30M Supply Agreement with Visvita
Reborn Coffee announced that it has entered into a master product supply agreement with Visvita, a California-based beverage distribution company, under which Reborn Coffee will supply products to Visvita. Products covered by the Agreement are limited to aloe vera beverages and other beverage products the parties specify in approved purchase orders. The parties have agreed to work toward a minimum business volume of $30M in products, raw materials and finished goods during the first contract year. Reborn Coffee will supply products to Visvita on a non-exclusive basis, and individual purchase orders become binding only upon the Company's written acceptance and confirmation. Upon signing the Agreement, the parties entered into an initial $2M purchase order.
Reborn Coffee Enters Strategic MOU with Visvita
Reborn Coffee announced that it has entered into a strategic Memorandum of Understanding, MOU, with Visvita. The MOU establishes a framework to combine Reborn Coffee's brand and roasting platform with Visvita's supply and distribution network, with the objective of expanding Reborn Coffee's global franchise supply chain and introducing a co-branded ready-to-drink beverage lineup. The MOU is non-binding, and the parties intend to negotiate definitive agreements. The companies are evaluating ways to connect Visvita's distribution footprint and local partner network in Mexico to Reborn's Latin American franchise supply chain. The goal is to broaden franchise supply and product distribution across Mexico and other Latin American markets through channels Visvita has already established. Visvita maintains active supplier standing with U.S. retailers, and the parties plan to leverage those relationships to place a co-branded "Visvita Reborn" RTD beverage lineup into channels ranging from independent markets to large-scale retail and online distribution. Michael Aminpour, Chief Executive Officer of Visvita, and Daniel Aminpour, Director, have been appointed as Head Sales Advisory Leads to guide global franchise expansion and RTD rollout.
Reborn Coffee Receives Compliance Notice from Nasdaq
Reborn Coffee received a notice from Nasdaq notifying the company that as it has not yet filed its quarterly report on Form 10-Q for the period ended June 30, the company no longer complies with Listing Rule 5250 for continued listing on Nasdaq. The company has 60 calendar days to submit to Nasdaq a plan to regain compliance, and if such plan is accepted, Nasdaq may grant the Company an extension of up to 180 calendar days from the prescribed due date for filing the Form 10-Q, or until February 16 to regain compliance. If Nasdaq does not accept the company's plan, the company will have the opportunity to appeal that decision to a hearings panel.
Reborn Coffee Signs Strategic MOU with The Mighty Oak
Reborn Coffee announced that it has entered into a strategic memorandum of understanding, or MOU, with The Mighty Oak Inc., a U.S.-based produce supply and sales company, establishing a framework for cooperation in the sourcing, supply, and sale of agricultural products across the United States. The MOU marks the company's entry into produce supply business, a category adjacent to its existing specialty coffee operations. Reborn Coffee intends to participate as a principal purchaser and supplier rather than as a broker. Under the contemplated structure, the company would purchase, import, and store product, hold title to that product until it is sold, and supply it to The Mighty Oak Inc., which would in turn supply it to grocery retailers through its existing vendor relationships. The MOU focuses on four areas the parties have identified for cooperation, a structure which Reborn believes will allow it to participate in the U.S. Asian-American grocery segment without building channel access independently. Rather than committing capital to warehouses, delivery fleets, and retail account development over a period of years, the company would apply its sourcing capability and access to capital against demand that already exists at established retail accounts.
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