Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 85

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 85
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 conversion of the notes; 34,184 shares issued to certain employees; and 14,529 issued upon exercise of outstanding stock options for net proceeds of $7.26, our proforma net tangible book value was $(19.6) million, or $(0.48) per share of common stock. Dilution represents the difference between the amount per share paid by purchasers in this offering and the as adjusted net tangible book value per share of common stock after the offering. After giving effect to the sale of 6,206,897 shares of common stock and accompanying common warrants in this offering at an assumed offering price of $1.45 per share, which was the closing price of our common stock as reported on Nasdaq on August 4, 2025 and after deducting Placement Agent fees and estimated offering expenses payable by us, but without adjusting for any other change in our net tangible book value subsequent to March 31, 2025, our pro forma as adjusted net tangible book value would have been $(0.24) per share. This represents an immediate increase in net tangible book value on a reported basis of $0.24, and on a pro forma basis of $0.25 per share to our existing stockholders and immediate dilution of $1.69 per share to new investors purchasing the securities at the proposed public offering price. It excludes the shares issued and proceeds received, if any, from the exercise of any common warrants issued in this offering. The following table illustrates the dilution in net tangible book value per share to new investors as of March 31, 2025 on a pro forma basis:

| Assumed public offering price per share                                                             |     | $ |       |   |     |   |  1.45 |   |
| Historical net tangible book value per share at March 31, 2025 (pro forma - reflecting the issuance 
 of 4,471,233 shares of common stock subsequent to March 31, 2025)                                   |     | $ | (0.48 | ) |     |   |       |   |
| Increase in net tangible book value per share to the existing stockholders on                       
 a pro forma basis attributable to this offering.                                                    |     | $ |  0.24 |   |     |   |       |   |
| Pro forma as adjusted net tangible book value per share after this offering                         |     |   |       |   |     | $ | (0.24 | ) |
| Dilution