Veea prices $6 million public offering of common stock and warrants

NEW YORK - Veea Inc. (NASDAQ:VEEA), an intelligent edge infrastructure company trading near its 52-week low with a market capitalization of $39 million, announced on Wednesday the pricing of its "reasonable best efforts" public offering of 6 million shares of common stock and accompanying warrants at $1.00 per combined unit.

The offering is expected to generate approximately $6 million in gross proceeds before deducting placement agent fees and other expenses. The capital raise comes at a crucial time, as InvestingPro data shows the company’s current ratio at 0.54, indicating potential liquidity challenges. Each unit consists of one share of common stock and one warrant to purchase an additional share at an exercise price of $1.10, exercisable immediately and expiring in five years.

As part of the transaction, NLabs Inc., an existing stockholder affiliated with Veea’s CEO, will exchange approximately $3.24 million in outstanding non-convertible promissory notes for 3,239,096 shares and accompanying warrants at the same offering price.

The offering is expected to close around August 14, 2025, subject to customary closing conditions. A.G.P./Alliance Global Partners is serving as the sole placement agent.

Veea plans to use the net proceeds for inventory investments, customer support infrastructure, working capital, and general corporate purposes.

The securities are being offered pursuant to a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission on August 12, 2025.

Veea, founded in 2014 and headquartered in New York City, provides edge connectivity, computing, and Edge AI solutions through its VeeaHub STAX platform and VeeaONE platform. The company faces significant challenges, with InvestingPro analysis revealing a 98.47% revenue decline in the last twelve months. Investors can access 11 additional exclusive ProTips and comprehensive financial metrics through InvestingPro’s advanced analytics platform.

This article is based on a press release statement from the company.

In other recent news, Veea Inc. announced a significant development involving its wholly owned subsidiary, VeeaSystems Inc., which has entered into a three-year supply agreement with Telcel, a Mexican telecommunications company owned by América Móvil. The agreement follows successful trials of VeeaSystems’ VeeaHub STAX-5G product with Telcel’s enterprise customers, marking a strategic move to provide 5G-based Fixed Wireless Access solutions. Additionally, Veea Inc. has formed a strategic alliance with StarGroup to enhance digital services in underserved rural communities in Mexico, aiming to support education and commerce through improved connectivity.

Moreover, Veea has adopted the Walrus decentralized data storage protocol to enhance its VeeaHub STAX edge solution, which is expected to boost data transport and storage capabilities for AI development. In other developments, Veea announced a new offering of common stock and warrants on a "reasonable best efforts basis," though the number of shares offered has not been specified. This move comes amid efforts to expand their market reach and technological capabilities.

These recent developments highlight Veea’s ongoing efforts to strengthen its presence in the telecommunications and edge computing sectors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.