Veea Inc. Files 8-K on Material Agreement & Equity Sales

TL;DR

Veea Inc. (VEEA) filed an 8-K detailing a new material agreement and equity sales. Watch for updates.

AI Summary

Veea Inc. filed an 8-K on December 6, 2024, reporting on a material definitive agreement entered into on December 2, 2024. The filing also covers unregistered sales of equity securities and includes financial statements and exhibits. Veea Inc. was formerly known as Plum Acquisition Corp. I.

Why It Matters

This 8-K filing indicates significant corporate activity, including a new material agreement and potential equity transactions, which could impact the company's financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.

Key Players & Entities

• VEEA INC. (company) — Registrant
• Plum Acquisition Corp. I (company) — Former company name
• December 2, 2024 (date) — Date of earliest event reported
• December 6, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share VEEA The Nasdaq Stock Mar
• $11 — one share of Common Stock at a price of $11.50, subject to adjustment VEEAW The
• $25.0 million — n to purchase, from time to time, up to $25.0 million in aggregate gross purchase price of ne
• $2.0 million — subject to a limit of the lesser of: $2.0 million divided by the closing sale price of th
• $25,000 — Lion an amount of Common Stock equal to $25,000 divided by the average VWAP of the Comm

Filing Documents

• ea0223825-8k_veeainc.htm (8-K) — 55KB
• ea022382501ex10-1_veeainc.htm (EX-10.1) — 198KB
• ea022382501ex10-2_veeainc.htm (EX-10.2) — 163KB
• 0001213900-24-106171.txt ( ) — 712KB
• veea-20241202.xsd (EX-101.SCH) — 4KB
• veea-20241202_def.xml (EX-101.DEF) — 26KB
• veea-20241202_lab.xml (EX-101.LAB) — 36KB
• veea-20241202_pre.xml (EX-101.PRE) — 25KB
• ea0223825-8k_veeainc_htm.xml (XML) — 6KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On December 2, 2024, Veea Inc. (the " Company ") entered into a Common Stock Purchase Agreement (the " ELOC Purchase Agreement ") with White Lion Capital, LLC (" White Lion ). Pursuant to the ELOC Purchase Agreement, the Company has the right, but not the obligation, to require White Lion to purchase, from time to time, up to $25.0 million in aggregate gross purchase price of newly issued common stock of the Company (the " Company "). (the " Registration Statement ") registering the resale of the shares issuable pursuant to the ELOC Purchase Agreement, the Company's right to sell shares to White Lion commenced on the date of the execution of ELOC Purchase Agreement and extends until (i) 24 months from the date of execution of the ELOC Purchase Agreement (the " Commitment Period "). During the Commitment Period, subject to the terms and conditions of the ELOC Purchase Agreement, the Company may exercise its right to sell its Common Stock. The Company may deliver a Regular Purchase Notice (as such term is defined in the ELOC Purchase Agreement), pursuant to which the Company can require White Lion to purchase shares of Common Stock and opt for the purchase price per share to be (i) 98% of the lowest daily VWAP during the three consecutive business days after notice is delivered (" Regular Purchase Price Option 1 ") or (ii) 96.5% of the daily VWAP on the day notice is delivered (" Regular Purchase Price Option 2 "). The number of shares that the Company can require White Lion to purchase pursuant to a Regular Purchase Notice is subject to a limit of the lesser of: $2.0 million divided by the closing sale price of the Common Stock on the day prior to the day notice is delivered (the " Fixed Limit "); 100% of Average Daily Trading Volume (as such term is defined in

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed with this Form 8-K: Exhibit Number Description 10.1 Common Stock Purchase Agreement, dated as of December 2, 2024, by and between White Lion Capital, LLC and Veea Inc. 10.2 Registration Rights Agreement, dated as of December 2, 2024, by and between White Lion Capital, LLC and Veea Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: December 6, 2024 Veea Inc. By: /s/ Allen Salmasi Name: Allen Salmasi Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR