VEEA INC. 8-K

What Happened

• Veea Inc. announced on January 5, 2026 that NLabs Inc. (a principal stockholder and an affiliate of Veea’s CEO) made an unsecured demand loan to the company for $14,100,000, evidenced by a Demand Promissory Note. The Note accrues interest at 10% per year (calculated on a 365-day year) and is payable on the earlier of March 31, 2026 or upon demand by NLabs; Veea may prepay the Note at any time without penalty.
• The proceeds of the NLabs loan were used the same day to fully repay Veea’s line of credit with JP Morgan Chase. Veea paid $14,076,218 in cash to retire the outstanding principal and interest and the bank credit facility and all commitments thereunder were terminated.

Key Details

• NLabs loan amount: $14,100,000 (unsecured demand promissory note dated January 5, 2026).
• Interest rate: 10% per annum, calculated on a 365-day year; interest payable at maturity/demand.
• Line of credit repayment: $14,076,218 paid on January 5, 2026 to JP Morgan Chase, resulting in termination of the facility.
• Related party: NLabs is a principal stockholder and an affiliate of the Company’s CEO.

Why It Matters

• This transaction replaces Veea’s bank line of credit with a short-term, related-party loan, changing the company’s near-term funding source and obligations.
• Investors should note the loan’s related-party nature and its short maturity (payable by March 31, 2026 or on demand) and the 10% interest cost, as these are material to liquidity and governance disclosures.