Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 315

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 315
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 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, and such lock-ups have expired
as of the date of this prospectus. The 2024 Note Offering Transferred Shares are not be subject to any lock-up restrictions, but for
a period of 6 months after the Closing they were separately designated by the Transfer agent and kept as book entry shares on the Transfer
Agent’s records and were 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 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 such shares subject to
a Brokerage Transfer within 6 months after the Closing of the Business Combination, a portion of the outstanding obligations under such
Investor’s September 2024 Note will automatically convert into a number of 2024 Note Conversion Shares equal to the number of the
transferred shares subject to such Brokerage Transfer, and the lock-up period for such 2024 Note Conversion Shares would be extended
for an additional 6 months to 12 months after the closing of the September 2024 Note Offering. As of December 31, 2024, $250,000 in aggregate
principal amount of the September 2024 Notes, together with associated interest, had automatically converted upon the occurrence of a
Brokerage Transfer.

<div align='center'>II-5</div>

Equity Line of Credit

On December 2, 2024, the
Company entered into the ELOC Purchase Agreement and the White Lion Registration Rights Agreement with White Lion. Pursuant to the ELOC
Purchase Agreement, the Company has the right, but not the obligation, to direct White Lion to purchase up to 25,000,000 shares of common
stock, subject to certain limitations and conditions as described below at a purchase price equal to (i) 96