Veea Inc. announced the pricing of a public offering for the purchase and sale of 6,000,000 shares of common stock and warrants.
The Offering has an aggregate cash gross proceeds of approximately $6,000,000 million.
NLabs Inc. will exchange and extinguish certain outstanding non-convertible promissory notes in exchange for shares of common stock and warrants.
Public Offering Pricing
The public offering includes 6,000,000 shares of common stock and warrants at a price of $1.00 per share and accompanying warrant.
Cash Gross Proceeds
The Company expects to receive aggregate cash gross proceeds of approximately $6,000,000 million, before deducting placement agent fees and other offering expenses.
Closing Date
The closing of the Offering is expected to occur on or about August 14, 2025, subject to customary closing conditions.
Use of Proceeds
Net proceeds from the Offering will be used for investments in inventory, customer support infrastructure, and general corporate purposes.
- The pricing of the public offering will provide Veea Inc. with significant cash gross proceeds for future investments and operations.
- The completion of the Offering will involve the exchange and extinguishment of certain outstanding promissory notes, strengthening the Company's financial position.
Veea Inc.'s successful pricing of the public offering demonstrates investor confidence in the Company's growth prospects and strategic direction. The use of proceeds for investments and infrastructure highlights the commitment to future development.