Plum completes business combination with Veea; renamed to Veea Inc.; $180M pre-money value

VEEA INC.

Business combination closed Sept 13, 2024; Plum renamed to Veea Inc. as surviving entity.
Veea shareholders received common stock based on $180M pre-money valuation at $10.00 per share; earnout up to 4.5M shares.
$15.7M in outstanding notes converted into 3.15M shares at $5.00 per share; promissory notes also converted at $5.
Sponsor transferred 1.73M shares to Polar to settle obligations; service provider fees of $1.75M deferred post-closing.
Lock-up agreements for 180 days for certain shareholders; registration rights agreement entered.

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Executive movements

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Departed

Jeffrey Friedman

Chief Financial Officer

VEEA · VEEA INC.

Effective: 2024-09-13
Filed: September 24, 2024, 7:59 PM ET

Effective September 13, 2024, Jeffrey Friedman resigned as Senior Vice President and Chief Financial Officer of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey Friedman resigned as Chief Financial Officer at VEEA INC..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

Effective September 13, 2024, Jeffrey Friedman resigned as Senior Vice President and Chief Financial Officer of the Company.

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VEEA INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-081217

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