VEEA INC. (VEEA): M&A transaction — 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

Extracted from this filing and checked against the source text.

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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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

VEEA INC. underwent a change of control involving Veea Inc. (formerly Plum Acquisition Corp. I) for pre-money equity value of Veea of $180,000,000 (closed 2024-09-13).

Action: change of control
Counterparty: Veea Inc. (formerly Plum Acquisition Corp. I)
Consideration: pre-money equity value of Veea of $180,000,000
Closing: 2024-09-13

Exact text from the filing

into the right to receive the number of shares of Common Stock determined in accordance with the Business Combination Agreement based on a pre-money equity value of Veea of $180,000,000, plus the aggregate exercise prices of Veea’s in-the-money, vested convertible securities, divided by $10.00. 1 Pursuant to the Business Combination Agreement, at the effective

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9 m&a transactions filed in the last 30 days. Browse all m&a transactions →

VEEA INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-081217

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