Veea Inc. Prices $6M Public Offering Of 6M Shares And 6M Warrants At A Combined Price Of $1.00; CEO Affiliate Converts $3.24M Notes Into 3.24M Shares and Warrants

Veea Inc. (NASDAQ:VEEA) ("Veea" or the "Company"), a leader in intelligent edge infrastructure, today announced the pricing of its "reasonable best efforts" public offering for the purchase and sale of 6,000,000 shares of common stock and warrants to purchase up to 6,000,000 shares of common stock at a combined offering price of $1.00 per share and accompanying warrant (the "Offering"). The Company expects to receive aggregate cash gross proceeds of approximately $6,000,000 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $1.10 per share, will be exercisable immediately and will expire five years from the issuance date.

In connection with the offering, NLabs Inc., a Delaware corporation ("NLabs") an existing stockholder and an affiliate of the Company and the Company's Chief Executive Officer, will exchange and extinguish certain of the Company's outstanding non-convertible promissory notes in the aggregate principal amount, plus accrued interest, of $3,239,096, in exchange for 3,239,096 shares of common stock and accompanying warrants at the combined public offering price per share and accompanying warrant.

The closing of the Offering is expected to occur on or about August 14, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this Offering for investments in inventory and the Company's customer support infrastructure and for working capital and general corporate purposes.

A.G.P./Alliance Global Partners is acting as the sole placement agent in connection with the Offering.