Veea Inc. (NASDAQ: VEEA) announced the pricing of a public offering of 6,000,000 shares of common stock and warrants.
The Offering has a combined price of $1.00 per share and accompanying warrant, totaling approximately $6.0 million in gross proceeds to the Company.
NLabs Inc., an existing stockholder, will exchange certain non-convertible promissory notes for shares in connection with the offering.
Public Offering
6,000,000 shares of common stock and warrants priced at $1.00 per share.
Gross Proceeds
Approximately $6.0 million in cash gross proceeds to Veea Inc.
NLabs Exchange
NLabs to exchange promissory notes for shares tied to the public offering.
- The Offering is a key step for Veea Inc. to raise funds for investments in inventory and customer support infrastructure.
- The exchange of promissory notes demonstrates confidence from existing stockholders in Veea's future prospects.
Veea Inc.'s pricing of the public offering and the expected use of proceeds signal strategic growth and investment in the company's infrastructure and operations.