secwatch.observer — SEC 8-K summary
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Issuer:     VEEA INC. (VEEA)
CIK:        0001840317
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001213900-24-081217
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 3.02, 9.01, 3.03, 4.01, 5.01, 5.02, 5.06, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840317/000121390024081217/0001213900-24-081217-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840317/000121390024081217/ea0214727-8k_veeainc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-081217

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