Categories Consumer, IPO, Others

IPO News: Reborn Coffee set to go public. Here’s all you need to know

The stock is expected to list on the Nasdaq stock exchange under the ticker symbol REBN, but the size of the IPO and the offer price are not known yet

After a year of record activity, the IPO market seems to be warming up for a busy 2022. The upcoming stock market debut of Reborn Coffee Inc. would be one of the closely followed IPOs of the year.

The California-headquartered company operates retail outlets serving premium coffee. Last week, Reborn revealed plans to become a public company through an initial public offering, though the exact date of the offering is not yet known. The company has neither announced the number of shares being offered and the offer price.

Nasdaq Listing

If everything goes as planned, the stock will list on the Nasdaq stock exchange under the ticker symbol REBN. The sole book-runner in the offering is EF Hutton, a unit of Benchmark Investments.


IPO news: What to look for when Vigil Neuroscience goes public this week


Reborn was founded in 2015 by Jay Kim, who has served as the chief executive officer since then. According to the company, the Reborn Wash Process – in which magnetized water is used to wash the raw coffee beans — is the key to creating the special flavor of its coffee. The process adds to the quality of the final product, thereby differentiating the brand from others in the market.

ipo news

As of September 30, 2021, Reborn operated seven company-owned locations. It is looking the expand the network through franchising, which is expected to begin early this year. Also, plans are afoot to open around 40 own outlets next year.

High Demand

The company’s addressable market is expected to grow steadily in the coming years, and the business stands to benefit from the growing demand for branded and premium coffee varieties. However, it would not be an easy task to expand the business in a market that is ruled by the likes of Starbucks Corp. (NASDAQ: SBUX) and Canada-based Tim Hortons.


Read management/analysts’ comments on quarterly reports


Reborn generated total revenues of about $793,000 in fiscal 2020, which is up 28% from 2019. More recently, the company reported $1.57 million in revenues for the nine months ended September 30, 2021, sharply higher than the previous year’s number. Meanwhile, net loss widened to $1.1 million from $0.75 million during the fiscal year. The loss for the nine-month period was $2.58 million, compared to a loss of $0.85 million in the prior-year period.

IPO Spree

Of late, coffee brands and fast-food chains have developed a penchant for going public, to take advantage of the growing popularity of specialty beverages and snacks. In September, Oregon-based drive-thru coffee chain Dutch Bros went public through a blockbuster IPO, raising about $484 million. The stock made strong gains since then and the company’s valuation has crossed $2 billion.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Snowflake (SNOW) appears to be on solid footing despite cloud slowdown

The cloud computing market witnessed accelerated growth in the last couple of years, as enterprises across the world shifted their digital assets to cloud for ensuring safety and enhancing data

Dollar Tree (DLTR) vs. Dollar General (DG): How did the third quarter turn out for these discount retailers?

In times of high inflation and economic uncertainty, consumers tend to turn to discount retailers in search of more value. The two leading discount retailers Dollar Tree Inc. (NASDAQ: DLTR)

Kroger (KR) looks set to start 2023 with new vigor. Is the stock a buy?

The retail environment has witnessed many changes in customers’ shopping behavior lately, especially after the COVID outbreak. With inflation putting pressure on personal finances, there appears to be a new

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top