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 includes approximately $6 million in cash gross proceeds to the Company.
NLabs Inc. will exchange and extinguish certain of the Company's outstanding non-convertible promissory notes in exchange for shares of common stock and accompanying warrants.
Public Offering Details
The public offering consists of 6,000,000 shares of common stock and warrants at a combined offering price of $1.00 per share.
Net Proceeds Usage
The net proceeds will be used for investments in inventory, customer support infrastructure, working capital, and general corporate purposes.
Closing Expected Date
The closing of the offering is expected to occur on or about August 14, 2025, subject to customary closing conditions.
- Veea Inc. aims to strengthen its financial position through the public offering to support inventory investments and improve customer support infrastructure.
- The exchange of the Company's outstanding non-convertible promissory notes for shares of common stock will impact its outstanding debt structure and equity positions.
Veea Inc.'s public offering announcement signals a strategic move to raise funds for further expansion and investment in key areas of the business, setting a positive outlook for the Company's growth.