Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 44

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 the NLabs 2025 Notes. The Company intends to use the net proceeds from the Offering for investments in inventory and the Company’s
customer support infrastructure and for other working capital and general corporate purposes.

Supply Agreement

On
August 7, 2025, 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.

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Item 2. Management’s