Veea Inc. announced the pricing of a public offering, generating approximately $6.0 million in cash gross proceeds.
The offering includes the purchase and sale of 6,000,000 shares of common stock and warrants at $1.00 per share.
NLabs Inc. will exchange outstanding non-convertible promissory notes for shares and warrants in this offering.
Offering Details
Public offering price at $1.00 per share with warrants, expecting aggregate gross proceeds of $6,000,000.
NLabs Exchange
NLabs Inc. to exchange $3,239,096 in promissory notes for Veea Inc. shares and warrants at same offering price.
Closing Date
Expected closing of the Offering on or about August 14, 2025, subject to customary conditions.
Use of Proceeds
Intends to use net proceeds for inventory investments, customer support infrastructure, and general corporate purposes.
- Veea Inc. aims to strengthen its financial position through the public offering.
- The exchange of promissory notes for shares and warrants enhances the Company's capital structure.
Veea Inc.'s public offering and exchange with NLabs mark strategic moves to support growth and operational capabilities in edge infrastructure. The net proceeds allocation reflects a focus on enhancing core business functions and overall financial stability.