Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 183

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 183
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network edge.

The Company has three wholly
owned subsidiaries, and located in the United Kingdom (“U.K.”)with offices in the United States (“U.S.”)
and Europe.

On March 24, 2021,
the Company formed VeeaSystems SAS (“Veea SAS”), a simplified joint stock company in France. Upon formation, the Company
contributed capital totaling €875 (approximately $1,100), which constitutes approximately a 17.5% ownership in Veea SAS. The
Company’s Chief Executive Officer (“CEO”) contributed capital to constitute an approximately 7% ownership in Veea SAS. In
addition, the Company’s CEO is the President of Veea SAS as well as a director. In July 2023, the Company exercised its call
options to acquire an additional 24.50% stake in Veea SAS, bringing its total ownership stake in Veea SAS to 42.5%. The call option was
exercised for a price of €1 per share. In December, the Company exercised its call options for the remaining 57.5% ownership stake
in Veea SAS. Veea SAS is accounted for as a Variable Interest Entity and consolidated as further described within Principles of
Consolidation to Note 3 - Summary of Significant Accounting Policies.

On November 28, 2023 the
Company and Plum Acquisition Corp. I (“Plum”) (NASDAQ: PLMI), a special purpose acquisition company announced the
signing of a definitive business combination agreement (the “Business Combination Agreement”) in connection with a proposed
business combination expected to result in the Company becoming a publicly traded company (such proposed business combination and related
transactions, including the issuance by Plum of securities in connection therewith, collectively, the “Business Combination”).
The Business Combination is structured as a merger between a wholly-owned subsidiary of Plum, on the one hand, and the Company, on the
other, following which Plum, after transitioning to become a Delaware corporation, will be renamed and will continue the business of
the Company (referred to herein as the “Combined Company”). The transaction consideration to be issued to securityholders
(including holders of outstanding debt and other convertible securities) proposed Business Combination (the “Closing”) will
consist of newly-issued Plum securities determined based on a pre-money equity value for the Company’s outstanding equity securities
and certain outstanding debt that will be converted into equity at the Closing of approximately $194 million, excluding the proceeds
of the issuance of