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Veea Inc. Announces Closing of $9.2 Million Public Offering

NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Veea Inc. (NASDAQ:VEEA) ("Veea" or the "Company"), a leader in intelligent edge infrastructure, announced the closing of its public offering of an aggregate of 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 proceeds 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 Inc., a Delaware corporation ("NLabs") an existing stockholder and an affiliate of the Company and the Company's Chief Executive Officer, in exchange for the extinguishment of certain of the Company's outstanding non-convertible promissory notes in the aggregate principal amount, plus accrued interest, of $3,239,096.

The Offering closed on August 14, 2025. 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 acted as the sole placement agent in connection with the Offering.

The securities described above were offered pursuant to a registration statement on Form S-1, as amended (File No. 333-288878) previously filed with the Securities and Exchange Commission ("SEC") on July 23, 2025, which was declared effective on August 12, 2025, and a registration statement on Form S-1MEF (File No. 333- 289555). This Offering was made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to the Offering has been filed with the SEC on August 14, 2025. An electronic copy of the final prospectus relating to the Offering may be obtained on the SEC's website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at ...