VEEA INC.
Filed Jul 23, 2025.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Jul 23, 2025
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As filed with the U.S. Securities and Exchange Commission on July 23, 2025.
Registration No. 333-
**UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
**FORMS-1
REGISTRATION STATEMENT
*UNDER
THE SECURITIES ACT OF 1933*
VEEA INC.
(Exact name of registrant as specified in its charter)
| Delaware | 7373 | 98-1577353 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification Number) |
164 E. 83rd Street
New York, NY 10028
(212) 535-6050
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
**Allen Salmasi, Chief Executive Officer
164 E. 83rd Street
New York, NY 10028
(212) 535-6050
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
| Stuart Neuhauser, Esq. Jonathan Deblinger, Esq. Ellenoff Grossman & Schole LLP 1345 6th Ave New York, NY 10105 Tel: (212) 370-1300 | [__] |
|---|
Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.
If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒
If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and we are not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.
| Preliminary Prospectus | Subject to Completion | Dated July 23, 2025 |
|---|
Up to [__] Shares of Common Stock
Up to [] Pre-Funded Warrants to Purchase up to [] Shares of Common Stock
Up to [] Common Warrants to Purchase up to [] Shares of Common Stock
Up to [__] Shares of Common Stock Underlying such Pre-Funded Warrants
Up to [__] Shares of Common Stock Underlying such Common Warrants
Veea Inc.
We are offering on a reasonable best efforts basis up to [] shares of our common stock together with common warrants (each, a “common warrant”) to purchase up to [] shares of our common stock, par value $0.0001, and [] shares together with [] common warrants to existing stockholders identified below in exchange for tendered demand notes, and satisfaction of that indebtedness by us, based on an assumed combined public offering price of $[] per share and accompanying common warrant (the last reported sale price of our common stock on The Nasdaq Capital Market (“Nasdaq”) on [], 2025). Each common warrant will be exercisable for [] shares of our common stock and have an assumed exercise price of $[] per share (or 100% of the assumed offering price per share and accompanying common warrant). Each common warrant will be exercisable beginning on the date of issuance (the “Initial Exercise Date”). The common warrants will expire five years from the Initial Exercise Date.
The shares of common stock and common warrants will be issued separately and will be immediately separable upon issuance but will be purchased together in this offering. This prospectus also relates to the shares of common stock issuable upon exercise of the common warrants sold in this offering.
We are also offering pre-funded warrants (the “pre-funded warrants” and together with the common warrants, the “Investor Warrants”) to purchase up to [] shares of common stock to those investors, if any, whose purchase of shares of our common stock in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately following the consummation of this offering, in lieu of shares of common stock that would result in beneficial ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock. Each pre-funded warrant is exercisable for one share of common stock and has an exercise price of $0.001 per share. The combined purchase price per pre-funded warrant and accompanying common warrants is equal to $[], which is equal to the combined purchase price per share of common stock less $0.001. Each pre-funded warrant will be exercisable immediately upon issuance and may be exercised at any time until exercised in full. The pre-funded warrants and common warrants will be issued separately and will be immediately separable upon issuance but will be purchased together in this offering. For each pre-funded warrant we sell, the number of shares of common stock we are offering will be decreased on a one-for-one basis. This prospectus also relates to the shares of common stock issuable upon exercise of the pre-funded warrants sold in this offering.
We refer to the common stock and the Investor Warrants to be sold in this offering collectively as the “securities.”
These securities are being sold in this offering to certain purchasers under a securities purchase agreement between us and such purchasers. The securities are expected to be issued in a single closing and the public offering price per share of common stock and the pre-funded warrants and accompanying common warrants will be fixed for the duration of this offering. We will deliver all securities to be issued in connection with this offering delivery versus payment or receipt versus payment, as the case may be, upon receipt of investor funds received by us.
Our common stock is listed on Nasdaq under the symbol “VEEA.” On [], 2025, the last reported sale price of our common stock on Nasdaq was $[] per share. The actual number of securities, the combined offering price per share of common stock and the pre-funded warrants and accompanying common warrant and the exercise price per share of common stock for the accompanying common warrant will be as determined between us, the placement agent and the investors in this offering based on market conditions at the time of pricing. Therefore, the recent market price used throughout this prospectus may not be indicative of the actual public offering price for the securities, which may be substantially lower than the assumed price used in this prospectus. There is no established public trading market for the Investor Warrants and we do not expect a market to develop. In addition, we do not intend to apply for a listing of the Investor Warrants on any national securities exchange or other trading system.
We have engaged [] to act as our sole placement agent (the “Placement Agent” or “[]”) in connection with this offering. The Placement Agent has agreed to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The Placement Agent is not purchasing or selling any of the securities we are offering and the Placement Agent is not required to arrange the purchase or sale of any specific number of securities or dollar amount. We have agreed to compensate the Placement Agent as set forth in the table below, which assumes that we sell all of the securities offered by this prospectus. Because there is no minimum number of securities or minimum aggregate amount of proceeds for this offering to close, we may sell fewer than all of the securities offered hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering will not receive a refund in the event that we do not sell an amount of securities sufficient to pursue the business goals outlined in this prospectus. Since we will deliver the securities to be issued in this offering upon our receipt of investor funds, there is no arrangement for funds to be received in escrow, trust or similar arrangement. Because there is no escrow account and there is no minimum offering amount, investors could be in a position where they have invested in our company, but we are unable to fulfill our objectives due to a lack of interest in this offering. Also, any proceeds from the sale of the securities offered by us will be available for our immediate use, despite uncertainty about whether we would be able to use such funds to effectively implement our business plan. We will bear all costs associated with this offering. See the*“Plan of Distribution”* section of this prospectus for more information. This offering will end no later than August 25, 2025. except that the shares of common stock underlying the Investor Warrants will be offered on a continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”).
You should read this prospectus, together with additional information described under the heading “Where You Can Find More Information,” carefully before you invest in any of our securities.
We are an “emerging growth company” as defined in Section 2(a) of the Securities Act of 1933, as amended (“Securities Act”) and we have elected to comply with certain reduced public company reporting requirements.
Investing in our securities involves a high degree of risk. See the section entitled “Risk Factors” beginning on page 10 of this prospectus for a discussion of risks that should be considered in connection with an investment in our securities.
Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
| Per Share and accompanying Common Warrant | Per Pre-Funded Warrant and accompanying Common Warrant | Total | |
|---|---|---|---|
| Public offering price | $– | $ | $– |
| Placement Agent fees(1) | $ | $ | $ |
| Proceeds, before expenses, to us (2) | $ | $ | $ |
| (1) | We have agreed to pay the Placement Agent a cash fee equal to [__]% of the aggregate proceeds raised in the offering, provided that, however, the Placement Agent shall receive no cash fee for any payment made by NLabs (as defined below) in forms of the 2025 Related Party Notes (as defined below) for the shares of common stock, pre-funded warrants and/or common warrants sold in this offering in satisfaction of such indebtedness of such notes, and to reimburse the placement agent for certain of its offering-related expenses. See “Plan of Distribution” beginning on page 113 of this prospectus for a description of the compensation and expense reimbursement to be received by the Placement Agent. |
| (2) | The amount of the proceeds to us presented in this table does not give effect to any exercise of the Investor Warrants. |
NLabs Inc., a Delaware corporation (“NLabs”) an existing stockholder and an affiliate of the Company and the Company’s Chief Executive Officer, holds certain of our outstanding non-convertible promissory notes in the aggregate principal amount of $3,026,000. The Company is expected to propose satisfying its obligation to repay the outstanding notes, plus accrued interest, of $3,058,861, as of the date of this prospectus, with the issuance of [] shares of common stock with accompanying common warrants in this offering, based on the assumed offering price of $[] per share.
If NLabs accepts securities in this offering as payment and satisfaction in full of the outstanding promissory notes, upon completion of this offering, Allen Salmasi and NLabs would beneficially own, in the aggregate, approximately []% and []% of our outstanding capital stock, respectively.
Delivery of the shares and Investor Warrants is expected to be made on or about [__], 2025, subject to satisfaction of customary closing conditions.
Sole Placement Agent
[__]
The date of this prospectus is [__], 2025
Table of Contents
| Page | |
|---|---|
| ABOUT THIS PROSPECTUS | ii |
| INDUSTRY AND MARKET DATA | iii |
| TRADEMARKS | iii |
| FREQUENTLY USED TERMS AND BASIS OF PRESENTATION | iv |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | vi |
| PROSPECTUS SUMMARY | 1 |
| RISK FACTORS | 10 |
| USE OF PROCEEDS | 45 |
| DILUTION | 45 |
| CAPITALIZATION | 47 |
| MARKET INFORMATION FOR COMMON STOCK AND DIVIDEND POLICY | 47 |
| BUSINESS | 48 |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 68 |
| EXECUTIVE AND DIRECTOR COMPENSATION | 80 |
| MANAGEMENT | 86 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 92 |
| CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 93 |
| DESCRIPTION OF OUR SECURITIES | 100 |
| PLAN OF DISTRIBUTION | 113 |
| MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS | 116 |
| LEGAL MATTERS | 123 |
| EXPERTS | 123 |
| WHERE YOU CAN FIND MORE INFORMATION | 123 |
| INDEX TO FINANCIAL STATEMENTS | F-1 |
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.