Veea Inc. (NASDAQ:VEEA) shares jumped 83.45% to $4.20 in after-hours trading Monday after the company announced a potential merger with NovaGen Group B.V. and a $10 million cornerstone investment from GeoNova Capital.

Veea provides AI-powered, cybersecure edge infrastructure through its VeeaONE platform.

Potential Merger

Veea and NovaGen signed a term sheet to combine and are targeting execution of a definitive business combination agreement within the coming weeks.

The companies also announced plans to launch NovaGen Health Networks, a connected health platform integrating Veea’s edge computing, connectivity and cybersecurity capabilities with NovaGen’s cellular reprogramming science and clinical services. Initial deployments are planned at NovaGen clinics and partner hospitals in the fourth quarter of 2026.

The platform will connect health records, wearable and sensor data and biological measurements into a patient-controlled longitudinal health profile. Local computing will support agentic AI applications close to patients, with patient-directed permissions governing access to personal data.

GeoNova Capital has signed a term sheet to provide an initial $10 million investment in the combined company. Veea said management believes the combined company is valued at approximately $750 million based on its internal projections and an independent valuation prepared using those projections.

The proposed business combination and GeoNova investment remain subject to definitive documentation and other closing conditions.

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Trading Metrics

Veea has a market capitalization of approximately $7.12 million.

The stock has a 52-week high of $18.67 and a 52-week low of $1.34.

Veea shares are down 78.76% over the past year.

Benzinga Edge Stock Rankings show negative rankings across the short-, medium- and long-term time frames.

Price Action: In the regular session, the stock jumped 46.79% to close at $2.29, according to Benzinga Pro data.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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