Sakuu to go public via merger with SPAC Plum at ~$705M enterprise value

VEEA INC.

Sakuu, a solid-state battery and additive manufacturing company, merges with Plum Acquisition Corp. I (PLMI).
Transaction implies enterprise value of ~$705M; Sakuu equity holders expected to own ~80% of pro forma company.
Sakuu has existing purchase orders totaling over $300M for 2023-2025.
Anticipated gross proceeds of ~$100M from private/public capital and Plum's trust, even in 95% redemption scenario.
Transaction expected to close in Q3 2023, subject to Plum stockholder approval and regulatory conditions.

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