On June 25, 2026, Veea Inc. entered into a Note Conversion Agreement with NLabs Inc., an affiliate of CEO Allen Salmasi, to exchange $4,132,910.49 in principal and accrued interest from Demand Notes into 41,329 shares of Series A-1 Preferred Stock and Common Warrants to purchase up to 13,331,969 shares of Common Stock at an exercise price of $0.31 per share. The Series A-1 Preferred Stock is convertible to Common Stock at a rate of 323 shares of Common Stock per preferred share. Veea Inc. operates in the technology sector, providing edge computing and IoT connectivity solutions.
