other material
confidence high
sentiment neutral
materiality 0.70
Veea Inc. enters into $25M equity line with White Lion Capital for common stock purchases
VEEA INC.
- Veea Inc. entered a Common Stock Purchase Agreement with White Lion Capital for up to $25 million in aggregate gross purchase price of newly issued common stock.
- Company may require White Lion to purchase shares at 98% of lowest daily VWAP (Option 1) or 96.5% of day's VWAP (Option 2), subject to volume limits.
- Veea issued 25,000 commitment shares to White Lion as consideration, valued based on average VWAP prior to effectiveness or written request.
- Agreement has a 24-month commitment period and requires an effective resale registration statement for shares to be sold.
- Veea also entered a Registration Rights Agreement to file a registration statement within 30 days covering shares issued to White Lion.