Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 661

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 661
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to the stockholders vote or approval, other than on any amendment to the Restated Certificate of Incorporation (including any certificate
of designations relating to any series of Preferred Stock) that relates solely to the terms of one or more outstanding series of Preferred
Stock if the holders of such affected series are entitled, either separately or together as a class with the holders of one or more other
such series, to vote thereon pursuant to the Restated Certificate of Incorporation (including any certificate of designations relating
to any series of Preferred Stock). Holders of our common stock are entitled to one vote per share on all matters submitted to the stockholders
for their vote or approval.

Equity Line of Credit

On December 2, 2024, the Company entered into a common stock purchase
agreement (“Common Stock Purchase Agreement”) and related registration rights agreement (the “White Lion Registration
Rights Agreement”) with White Lion Capital, LLC (“White  Lion”). Pursuant to the Common Stock Purchase Agreement,
the Company had the right, but not the obligation, to direct White Lion to purchase up to 25,000,000 shares of our common stock, subject
to certain limitations and conditions as described below (the "ELOC Program") at a purchase price equal to (i) 96.5% of the
volume weighted average stock price for the three consecutive business days after a purchase notice is given, (ii) 98% of the volume weighted
average stock price on the day a notice is delivered, or (iii) the lowest traded price for a given purchase date.

The
Company controls the timing and amount of any sales to White Lion, which depend on a variety of factors including, among other things,
market conditions, the trading price of the Company’s common stock, and determinations by the Company as to appropriate sources
of funding for its business and operations. However, White Lion’s obligation to purchase shares is subject to certain conditions,
including the daily trading volume of the Company’s stock. In all instances, the Company may not sell shares of its common stock
under the Purchase Agreement if it would result in White Lion and its affiliate beneficially owning more than 4.99% of its outstanding
voting power or shares of common stock at any one point in time, or the aggregate number of shares of common stock would not exceed 19.99%
of the voting power of the issued and outstanding common stock.

F-25

Veea
Inc. and Subs