Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 291

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 291
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The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in FASB ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) are classified as a liability instrument and are measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s consolidated balance sheets.

| Ordinary                                                 
 shares subject to possible redemption, December 31, 2021 |     | $ |  319,216,340 |   |
| Plus:                                                    |     |   |              |   |
| Accretion                                                
 adjustment of carrying value to redemption value         |     |   |    4,695,302 |   |
| Ordinary                                                 
 shares subject to possible redemption, December 31, 2022 |     | $ |  323,911,642 |   |
| Less:                                                    |     |   |              |   |
| Redemptions of ordinary shares                           |     |   | (294,254,572 | ) |
| Plus:                                                    |     |   |              |   |
| Accretion                                                
 adjustment of carrying value to redemption value         |     |   |    5,898,906 |   |
| Ordinary                                                 
 shares subject to possible redemption, December 31, 2023 |     | $ |   35,555,976 |   |

<div align='center'>F-92</div>

NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES(cont.)

Offering Costs

The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A - “Expenses of Offering”. Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the Public Offering. Offering costs are charged to shareholders’ deficit or the consolidated statements of operations based on