Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 246

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 246
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 adoption of this guidance will result in the Company being required to include enhanced
disclosures relating to its reportable segments. The Company is currently evaluating the impact this standard will have on its condensed
consolidated financial statements.

4 - REVERSE RECAPITALIZATION

As discussed in Note 1, “Organization and Business Operations”, the Business Combination was consummated on September 13, 2024, which, for accounting purposes, was treated as the equivalent of Legacy Veea issuing stock for the net assets of Plum, accompanied by an equity recapitalization of Legacy Veea. Under this method of accounting, Plum was treated as the acquired company for financial accounting and reporting purposes under GAAP. This determination was primarily based on the assumption that:

| ● | Legacy                                                                                 
 Veea’s current shareholders will hold a majority of the voting power of New Plum (“New 
 Plum”) post Business Combination                                                       |

<div align='center'>F-51

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

| ● | effective                                                                                      
 upon the Business Combination, the post-combination Board will consist of seven (7) directors, 
 including five (5) directors designated by Legacy Veea, one (1) director designated by Plum    
 and one (1) director mutually agreed upon by Plum and Legacy Veea;                             |

| ● | Legacy                                                                                
 Veea’s operations will substantially comprise the ongoing operations of New Plum; and |

| ● | Legacy                                                                    
 Veea’s senior management will comprise the senior management of New Plum. |

Another determining factor was that Plum does not meet the definition of a “business” pursuant to ASC 805-10-55, Business Combinations (“ASC 805”), and thus, for accounting purposes, the Business Combination will be accounted for as a reverse recapitalization, within the scope of ASC 805. The net assets of Plum will be stated at historical cost, with no goodwill or other intangible assets recorded. Any excess of the fair value of shares issued to Plum over the fair value of Plum’s identifiable net assets acquired represents compensation for the service of a stock exchange listing for its shares and is expensed as incurred.

Transaction Proceeds

Upon closing of the Business Combination,
the Company received net proceeds of $1.1 million from the Business Combination, offset by total transaction costs of $5.3 million. The
following