Veea Inc. announced the pricing of its public offering for the purchase and sale of 6,000,000 shares of common stock and warrants.
The Company expects to receive aggregate cash gross proceeds of approximately $6,000,000 million.
NLabs Inc. will exchange and extinguish certain of the Company's outstanding non-convertible promissory notes in exchange for shares of common stock and warrants.
Public Offering Details
Offering of 6,000,000 shares of common stock and warrants at a combined price of $1.00 per share with accompanying warrant.
Proceeds Allocation
Net proceeds will be used for investments in inventory, customer support infrastructure, and general corporate purposes.
Closing Date
Closing of the Offering expected on or about August 14, 2025, pending customary closing conditions.
- The public offering will provide Veea Inc. with significant cash proceeds to support its operational and growth initiatives.
- The exchange and extinguishment of outstanding promissory notes will strengthen the Company's financial position.
- The involvement of NLabs Inc. and the placement agent highlights confidence in Veea Inc.'s business prospects.
Veea Inc.'s successful pricing of the public offering underscores investor confidence in the Company's future prospects and growth strategy. The allocation of proceeds towards strategic investments positions Veea for sustainable growth and innovation in its industry.