Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 95

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 95
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 stock splits, stock dividends and the like with respect
to the Common Stock after the Financing Closing) (the “Conversion Price”) at any time after the Financing Closing at the
sole election of the Investor. The outstanding obligations under each September 2024 Note will automatically convert at the Conversion
Price if (i) the Company or its subsidiaries consummate one or more additional financings for equity or equity-linked securities for
at least $20 million in the aggregate or makes one or more significant acquisitions valued in the aggregate (based on the consideration
provided by the Company and its subsidiaries) to be at least $20 million, (ii) the Investors holding a majority of the aggregate outstanding
obligations under the September 2024 Notes expressly agree to convert all obligations under the September 2024 Notes or (iii) the Common
Stock trades with an average daily VWAP of at least $10.00 (subject to equitable adjustment for stock splits, stock dividends and the
like with respect to the Common Stock after the Financing Closing) for ten (10) consecutive trading days. The obligations under each
September 2024 Note will also automatically convert in connection with a Brokerage Transfer, as described below.

The September 2024 Notes and
the Conversion Shares are subject to a lock-up for a period of 6 months after the Financing Closing (subject to early release for a liquidation,
merger, share exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange
their equity holdings in the Company for cash, securities or other property, and subject to customary permitted transfer exceptions).
The Transferred Shares are not be subject to any lock-up restrictions, but for a period of 6 months after the Closing they will be separately
designated by SPAC’s transfer agent and kept as book entry shares on the transfer agent’s records and will not be eligible
to be held by Depository Trust Company (“DTC”) without the Investor first notifying the Company of its intent to transfer
any such Transferred Shares to a brokerage account and/or to be held by DTC or another nominee (a “Brokerage Transfer”).
If the Investor provides such notice or otherwise has any Transferred Shares subject to a Brokerage Transfer within 6 months after the
Closing, a portion of the outstanding obligations under such Investor’s Note will automatically convert into a number of Conversion
Shares equal to the number of Transferred Shares subject to such Brokerage Transfer, and the lock-up period for such Conversion Shares