Veea Inc. (NASDAQ:VEEA) shares fell 16.90% in after-hours trading Wednesday after the company disclosed $1.15 million in unsecured loans and plans for a 1-for-20 reverse stock split in a Form 8-K filing.
The stock closed Wednesday’s regular session down 5.91% at $0.12. It then fell 16.90% to $0.10 in after-hours trading.
Veea is a provider of AI-driven, cybersecure edge infrastructure.
$1.15M In Demand Loans
In a Form 8-K filed Wednesday, Veea disclosed three unsecured loans from NLabs Inc., a principal stockholder and an affiliate of CEO Allen Salmasi.
