Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 78

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 78
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 person’s undertaking to repay any amounts paid, advanced, or reimbursed by Veea
if it is ultimately determined that any such person shall not have been entitled to indemnification. This indemnification policy could
result in substantial expenditures by Veea that we will be unable to recoup.

<div align='center'>35

USE OF PROCEEDS</div>

All of the shares of Common Stock offered by the
selling securityholders will be sold by them for their respective accounts. We will not receive any of the proceeds from these sales.
The selling securityholders will pay any underwriting fees, discounts, selling commissions, stock transfer taxes, and certain legal expenses
incurred by such selling securityholders in disposing of their shares of Common Stock, and we will bear all other costs, fees, and expenses
incurred in effecting the registration of such securities covered by this prospectus, including, without limitation, all registration
and filing fees, Nasdaq listing fees, and fees and expenses of our counsel and our independent registered public accountants.

We will receive (i) up to an
aggregate of approximately $71.9 million from the exercise of all of the Private Placement Warrants assuming the exercise in full of all
such Private Placement Warrants for cash and (ii) up to an aggregate of approximately $1.6 million from the exercise of all of the Assumed
Warrants assuming the exercise in full of all such Private Placement Warrants and Assumed Warrants for cash. All of the Private Placement
Warrants are currently “out-of-the money,” which means that the trading price of the shares of our Common Stock underlying
our Private Placement Warrants is below the $11.50 exercise prices, as applicable (subject to adjustment as described herein), of the
Private Placement Warrants. For so long as the Private Placement Warrants remain “out-of-the money,” we do not expect Warrant
holders to exercise their Private Placement Warrants and, therefore, we do not expect to receive cash proceeds from any such exercise.
The Assumed Warrants are currently “out-of-the money,” which means that the trading price of the shares of our Common Stock
underlying such Assumed Warrants is below the $10.19 exercise price (subject to adjustment as described herein) of such Assumed Warrants.
For so long as such Assumed Warrants remain “out-of-the money,” we do not expect the holder of such Assumed Warrants to exercise
their Assumed Warrants and, therefore,