Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 378

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 378
---
 the fair value hierarchy based on the nature of the fair value inputs. Any
adjustments to the carrying values are recognized in other income, net in the Company’s consolidated statements of operations and
comprehensive loss. As of December 31, 2024, the Company performed the qualitative assessment for impairment of its investments. Based
on this qualitative assessment, impairment indicators were present for one of its investments; therefore, the Company performed an analysis
to estimate its current fair value and subsequently recognized an impairment loss of $216,278, as it was determined that the investment
was fully impaired. As of December 31, 2024 and 2023, the carrying value of the Company’s private company investments, including
impairment, was $235,596 and $451,874, respectively, and were included in investments on the Company’s consolidated balance sheet
as these investments did not have a stated contractual maturity date.

F-24

Veea
Inc. and Subsidiaries
Notes to the Consolidated Financial Statements 
For the Years ended December 31, 2024 and 2023

9
– STOCKHOLDERS’ EQUITY

On September 13, 2024, the Company
consummated the Business Combination which was accounted for as a reverse recapitalization. See Note 4 – Reverse Recapitalization
for more information. In connection with the consummation of the Business Combination (i) the Company de-registered from the Register
of Companies in the Cayman Islands by way of continuation out of the Cayman Islands and into the State of Delaware, migrating to and domesticating
as a Delaware corporation (the “Domestication”) and (ii) restated our certificate of incorporation (“Restated Certificate
of Incorporation”). In connection with the Domestication, each share of outstanding Class A ordinary shares were converted by operation
of law into shares of common stock, on a one-for-one basis. Upon filing of the Restated Certificate of Incorporation, each issued and
outstanding share of Class B stock outstanding immediately prior to the filing of the Restated Certificate of Incorporation was converted
in shares of common stock on a one-for-one basis. Under the Restated Certificate of Incorporation, the Company is authorized to issue
551,000,000 shares of capital stock, consisting of (a) 550,000,000 shares of Common Stock with a par value of $0.0001 per share, (b) 1,