SCHEDULE 13G/A 0001699673 XXXXXXXX LIVE 1 Common Stock, $0.0001 par value per share 06/30/2025 0001707910 Reborn Coffee, Inc. 75618M305 580 N. Berry Street Brea CA 92821 Rule 13d-1(c) Arena Investors, LP b DE 533764.00 0.00 533764.00 0.00 533764.00 N 9.99 PN Arena Investors GP, LLC b DE 533764.00 0.00 533764.00 0.00 533764.00 N 9.99 OO limited liability company Arena Business Solutions Global SPC II, LTD. b E9 494084.00 0.00 494084.00 0.00 494084.00 N 9.3 CO Arena Special Opportunities (Offshore) Master II, LP b E9 33166.00 0.00 33166.00 0.00 33166.00 N 0.6 PN Arena Special Opportunities Partners (Offshore) GP II, LLC b DE 33166.00 0.00 33166.00 0.00 33166.00 N 0.6 OO limited liability company Arena Special Opportunities Partners III, LP b DE 12704.00 0.00 12704.00 0.00 12704.00 N 0.2 PN Arena Special Opportunities Partners III GP, LLC b DE 12704.00 0.00 12704.00 0.00 12704.00 N 0.2 OO limited liability company Reborn Coffee, Inc. 580 N. Berry Street, Brea, CA 92821 This Schedule 13G is filed by the following (the "Reporting Persons"): (i) Arena Investors, LP (the "Investment Manager"), who serves as subadvisor to Arena Global (as defined below) and as investment manager to ASOFM2 and ASOPIII (each as defined below); (ii) Arena Investors GP, LLC, who serves as the general partner of the Investment Manager (the "IM General Partner"); (iii) Arena Business Solutions Global SPC II, LTD. ("Arena Global"). (iv) Arena Special Opportunities (Offshore) Master II, LP ("ASOFM2"); (v) Arena Special Opportunities Partners (Offshore) GP II, LLC, who serves as the general partner of ASOFM2 (the "ASOFM2 General Partner"); (vi) Arena Special Opportunities Partners III, LP ("ASOPIII"; and collectively with Arena Global and ASOFM2, the "Arena Funds"); and (vii) Arena Special Opportunities Partners III GP, LLC, who serves as the general partner of ASOPIII (the "ASOPIII General Partner"). The Arena Funds are private investment vehicles and directly beneficially own the Common Stock reported in this Schedule 13G. The Investment Manager and the IM General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by the Arena Funds. The ASOFM2 General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by ASOFM2. The ASOPIII General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by ASOPIII. Each Reporting Person disclaims beneficial ownership with respect to any Common Stock other than the Common Stock directly beneficially owned by such Reporting Person. The principal business office of the Reporting Persons is 2500 Westchester Avenue, Suite 401, Purchase, New York 10577. For citizenship or place of organization see Item 4 of the cover page of each Reporting Person. Y See Item 9 on the cover page for each Reporting Person, and Item 2, which information is given as of the close of business on June 30, 2025, the Date of Event which requires the filing of this Schedule 13G. The shares reported include the following shares of Common Stock underlying derivative securities that can be exercised/converted within 60 days of the Date of Event: (1) ASOFM2 - 33,166 shares; and (2) ASOPIII - 12,704 shares. See Item 11 on the cover page for each Reporting Person. The percentages of beneficial ownership contained herein are based on: (x) 5,303,306 shares of Common Stock outstanding as of May 12, 2025 as reported by the Issuer in its Form 10-Q filed with the SEC on May 20, 2025; plus (y) the shares of Common Stock underlying the derivative securities referred to in Item 1(a) See Item 5 on the cover page for each Reporting Person. See Item 6 on the cover page for each Reporting Person. See Item 7 on the cover page for each Reporting Person. See Item 8 on the cover page for each Reporting Person. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 1 - Joint Filing Agreement Arena Investors, LP /s/ Tsering Lama 08/14/2025 Arena Investors GP, LLC /s/ Tsering Lama 08/14/2025 Arena Business Solutions Global SPC II, LTD. /s/ Tsering Lama 08/14/2025 Arena Special Opportunities (Offshore) Master II, LP /s/ Tsering Lama 08/14/2025 Arena Special Opportunities Partners (Offshore) GP II, LLC /s/ Tsering Lama 08/14/2025 Arena Special Opportunities Partners III, LP /s/ Tsering Lama 08/14/2025 Arena Special Opportunities Partners III GP, LLC /s/ Tsering Lama 08/14/2025