Veea Converts Debt to Preferred Stock Amid Nasdaq Transfer

Veea ( (VEEA) ) just unveiled an announcement.

On March 30, 2026, Veea Inc. entered into a Note Conversion Agreement with affiliate NLabs Inc., converting $16,876,400 of principal and accrued interest under demand promissory notes into 168,764 shares of newly designated Series A Convertible Preferred Stock at $100 per share, with associated registration rights. That same day, the company also filed a Certificate of Designation for the preferred stock, which votes on an as-converted basis with common shares, carries dividend rights equivalent to common stock, and is convertible into common stock at a formula price tied to $0.503 per share.

Also on March 30, 2026, Veea executed a Conversion Agreement with VeeaSystems Inc., NLabs, and 83rd Street LLC to convert $4,323,600 of unpaid rent and related charges on its New York lease and sublease obligations into 43,236 shares of the same preferred stock, strengthening its balance sheet by reducing debt-like obligations. These conversions were completed in connection with Veea’s response to Nasdaq deficiency notices received on September 29, 2025, and its March 27, 2026 application to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, a move not expected to immediately affect trading but intended to secure additional time to regain compliance with bid-price and market value listing rules.

More about Veea

Veea Inc., a Delaware corporation, operates in the technology sector and is listed on Nasdaq under the symbols “VEEA” for its common stock and “VEEAW” for its publicly traded warrants. The company has been working to maintain compliance with Nasdaq’s listing standards, including market value, bid price, and governance requirements.

Average Trading Volume: 1,501,802

Technical Sentiment Signal: Sell

Current Market Cap: $27.79M

See more data about VEEA stock on TipRanks’ Stock Analysis page.