Veea Raises $6 Million in Public Offering and Cancels $3.24 Million in Promissory Notes

Veea Inc. has priced a public offering of 6 million shares and warrants to raise $6 million in gross proceeds. The warrants are exercisable at $1.10 per share and expire in five years. Proceeds will fund inventory investment, customer support infrastructure, and general corporate purposes. Closing is expected on August 14, 2025, pending customary conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent.

Veea Inc. (VEEA), a leader in intelligent edge infrastructure, has priced a "reasonable best efforts" public offering of 6,000,000 shares of common stock and warrants to purchase an equal number of shares at $1.00 per unit. The company expects to raise $6 million in gross proceeds before fees and expenses. The warrants are immediately exercisable at $1.10 per share and expire in five years.

In a related transaction, affiliate NLabs Inc., linked to Veea's CEO, will exchange and cancel $3.24 million of promissory notes, including accrued interest, for 3,239,096 shares and warrants at the same pricing terms. The closing is anticipated on or about August 14, 2025, pending customary conditions. Proceeds will fund inventory investment, customer support infrastructure, and general corporate purposes.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-288878) previously filed with the Securities and Exchange Commission (SEC) on July 23, 2025, which was declared effective on August 12, 2025.

The stock closed at $0.6063 on Wednesday, representing a 43.34% drop from the previous day's close, and currently trades after hours at $0.6368, a 5.0305% increase.

References:
[1] https://www.nasdaq.com/articles/veea-prices-6-mln-public-offering-shares-and-warrants
[2] https://www.stocktitan.net/news/VEEA/veea-inc-announces-pricing-of-approximately-9-2-million-public-6ufaqfygocli.html