Veea Inc. announced the pricing of its public offering for the purchase and sale of shares of common stock and warrants.
The company aims to raise approximately $6.0 million in cash gross proceeds through the offering.
NLabs Inc. will exchange certain non-convertible promissory notes in exchange for shares of common stock and warrants in connection with the offering.
Public Offering Details
The public offering includes the sale of 6,000,000 shares of common stock and warrants at $1.00 per share and accompanying warrant.
Use of Proceeds
Veea Inc. plans to use the net proceeds for investments in inventory, customer support infrastructure, and general corporate purposes.
Closing Details
The closing of the offering is anticipated to take place on or about August 14, 2025, subject to customary closing conditions.
- The public offering will provide Veea Inc. with additional capital to support its growth initiatives and strategic investments.
- The exchange of non-convertible promissory notes for shares will potentially strengthen the company's financial position and reduce debt obligations.
Veea Inc.'s successful pricing of the public offering demonstrates investor confidence in the company's future prospects and growth strategy. This strategic move aligns with the company's goal to enhance its infrastructure and drive innovation in edge connectivity and AI technologies.