India, Aug. 14 -- Veea Inc. (VEEA), a leader in intelligent edge infrastructure, has priced a "reasonable best efforts" public offering of 6,000,000 shares of common stock and warrants to purchase an equal number of shares at $1.00 per unit, expecting gross proceeds of $6 million before fees and expenses.
The warrants are immediately exercisable at $1.10 per share and expire in five years.
In a related transaction, affiliate NLabs Inc., linked to Veea's CEO, will exchange and cancel $3.24 million of promissory notes, including accrued interest, for 3,239,096 shares and warrants at the same pricing terms.
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Closing is anticipated on or about August 14, 202...