Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 49

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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2025, the Company closed a public
offering to purchase up to 9,189,096 shares of common stock and warrants to purchase up to 9,189,096 shares of common stock at a combined
offering price of $1.00 per share and accompanying warrant (the “Offering”). The Company received aggregate cash gross process
of approximately $6.0 million, before deducting placement agent fees and other offering expenses. The warrants have an exercise price
of $1.10 per share, are exercisable immediately and will expire five years from the original issuance date. Included in the aggregate
securities issued are 3,239,096 shares of common stock and accompanying warrants that were issued to NLabs in consideration and satisfaction
of 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