UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
The | Stock Market LLC||||
$11.50, subject to adjustment |
The | Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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 13(a) of the Exchange Act.
Item 1.01. Entry into a Material Definitive Agreement.
As previously disclosed, on September 13, 2024, Veea Inc. (the “Company”) and VeeaSystems Inc. entered into note purchase agreements with certain accredited investors for the sale of unsecured subordinated convertible promissory notes. Pursuant to the note purchase agreement with Harmonic Equity Partners (“Harmonic”), Harmonic was to purchase a note in an aggregate principal amount of $13.55 million (the “Commitment Amount”) on or prior to October 15, 2024, which was subsequently extended to December 15, 2024. On December 31, 2024, the Company and Harmonic entered into a mutual Settlement and Release Agreement (the “Settlement Agreement”), pursuant to which Harmonic made a payment of $5,364,159 to the Company in consideration for the termination of Harmonic’s obligation to purchase a note in the principal amount of the Commitment Amount and a mutual release of claims.
The foregoing description of the Settlement Agreement is qualified in its entirety by reference to the full text of the Settlement Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Form 8-K:
Exhibit Number |
Description | |
10.1 | Settlement and Release Agreement, dated December 31, 2024, between the Company and Harmonic. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 2, 2025 | Veea Inc. | |
By: | /s/ Allen Salmasi | |
Name: | Allen Salmasi | |
Title: | Chief Executive Officer |
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