Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 299

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 299
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 VeeaSystems Inc., a Delaware corporation (“VeeaSystems”), a wholly owned subsidiary of Veea Inc., a Delaware
corporation (the “Company”), entered into a certain Framework Agreement for the Licenses, Equipment and Services (the “Supply
Agreement”) with RadioMovil Dipsa, S.A. De C.V. (“Telcel”), a Mexican wireless telecommunications company owned by América
Móvil, effective August 7, 2025. The Supply Agreement was signed by the parties following the completion of an extensive certification
and homologation process with Telcel; and the successful completion of trials with certain Telcel enterprise customers of the Company’s
VeeaHub STAXÒ -5G product,
incorporating Telcel SIM cards.

The
Supply Agreement sets forth the general guidelines, terms and conditions that govern the solution implementation and marketing, as well
as the provisioning of the services provided by VeeaSystems. Under the agreement, VeeaSystems will supply a comprehensive Platform-as-a-Service
solution featuring 5G-based Fixed Wireless Access (FWA) through its VeeaHub STAXÒ-5G
device, which incorporates 4G and 5G cellular connectivity, Wi-Fi 6 Access Point, IoT gateway, storage and Linux server capabilities to
deliver connectivity with integrated AI-driven cybersecurity services, managed connectivity, and monitoring tools while capable of hosting
applications on STAX-5G including third-party application. The parties have agreed to work together in the development of the marketing
strategy, branding and promotion of VeeaSystems’s services to Telcel’s customers in Mexico. The agreement provides for an
initial term of three years and automatically renews for successive one-year terms, unless either party elects not to renew upon 90-day
prior notice.

Appointment of Acting Chief Financial Officer

On July 15, 2025, Randal V. Stephenson was appointed
as the Company’s Acting Chief Financial Officer.

Appointment of Acting Chief Revenue Officer

On July 15, 2025, Mr. Helder Antunes a current
member of the Company’s Board of Directors was appointed acting Chief Revenue Officer.

Asset Purchase Transaction with Crowdkeep,
Inc.

Asset Purchase Agreement 

On May 13, 2025, the Company
entered into an Asset Purchase Agreement (the “APA”) with Crowdkeep, Inc., a Delaware corporation (the “Seller”),
pursuant to which, subject to the terms and conditions set forth in the APA