Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1221

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1221
---
 Company will use its commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent
an exemption is not available. In such event, each holder would pay the exercise price by surrendering the warrants for that number of
shares of common stock equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of shares of common
stock underlying the warrants, multiplied by the excess of the “fair market value” (as defined below) less the exercise price
of the warrants by (y) the fair market value and (B) 0.361. The “fair market value” as used in this paragraph shall mean the
volume weighted average price of the shares of common stock for the 10 trading days ending on the trading day prior to the date on which
the notice of exercise is received by the warrant agent.

In no event will the Company be required to net cash settle any warrant.
In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant
will have paid the full purchase price for the unit solely for the shares of common stock underlying such Warrant.

F-28

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Redemption
of Warrants When the Price per Share of Common Stock Equals or Exceeds $18.00

Once
the Warrants become exercisable, the Company may redeem the outstanding Warrants (except with respect to the Private Placement Warrants):

    ● in whole and not in part;           ● at a price of $0.01 per warrant;           ● upon not less than 30 days’ prior written notice of redemption to each warrant holder; and           ● if, and only if, the last reported sale price of our common stock equals
or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant)
for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to
the warrant holders. 

Redemption
of Warrants When the Price per Share of Common Stock Equals or Exceeds $10.00

Once
the Warrants become exercisable, the Company may redeem the outstanding Warrants