Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 132

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 132
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, 2024 and 2023 was
$63,709 and $78,087, respectively. Interest expense for the nine months ended September 30, 2024 and 2023 was $198,698 and $212,201,
respectively.

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At the Closing, the Related
Party Notes were converted into shares of Common Stock at the Closing at a price of $5.00 per share of Common Stock, which shares were
not considered Existing Veea Shares and were in addition to the shares of Common Stock issued to holders of Existing Veea Shares. See
“- Note Conversion Agreements,” below for more information regarding the conversion of the Related Party Notes.

In January 2023, Janice Smith,
Veea’s Chief Operating Officer, made a loan to Private Veea in the aggregate principal amount of $50,000. The loan accrues interest
on the outstanding principal amount at a rate of 10% per annum. Principal and interest on the loans are repayable upon the earlier of
demand and December 31, 2023. The loan was repaid in full in March 16, 2023.

Common Stock Warrants

In consideration for the guarantee
by the Company’s CEO of the Company’s obligations under the 2021 Revolving Loan Agreement and a previously outstanding loan
agreement with First Republic Bank, the Company issued warrants to purchase an aggregate of 2,430,000 shares of the Company’s
common stock (the “Loan Guarantee Warrants”). The exercise price of the warrants is $.01 per share. The warrants are exercisable
for a period of seven years. The warrants were equity classified and had a fair value of $2,189,014 on the date of grant which is recognized
as deferred cost and amortized to interest expense over the life of the loan agreements.

In December 2021, the Company
issued warrants to purchase 630,000 shares of common stock in connection with the Bridge Notes issued to NLabs (the “Tranche
1 Bridge Note Warrants”). The exercise price of the warrants is $.01 per share. The warrants are exercisable for a period of seven
years. The warrants were equity classified and had a relative fair value of $499,416 on the date of grant which was recognized as original
issue discount on the Bridge Notes in the year ended December 31, 2021.

In 2022, the Company issued
warrants to purchase