Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 293

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 293
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 totaled $37,240 and $77,697, respectively. A total of $202,050
is reflected in accrued expenses in the condensed consolidated balance sheet for matching contributions accrued but not yet paid.

18 - SUBSEQUENT EVENTS

The Company evaluated subsequent events
from June 30, 2025, the date of these financial statements, through the date on which the financial statements were issued (the “Issuance
Date”), for events requiring recording or disclosure in the financial statements as of and for the six months ended June 30, 2025.
The Company concluded that no events have occurred that would require recognition or disclosure in the financial statements, except as
described below:

Public Offering

On August 14, 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