Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 254

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 254
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 $         | 14,150,000 |     | $        | (1,404,352 | ) |     | $        | - |     | $     | 12,745,648 |

| December 31, 2023                  |     | Principal |            |     | Debt     
 Discount |   |     | Accrued Interest |           |     | Total |            |
|:-----------------------------------|:----|:----------|-----------:|:----|:---------|:--|:----|:-----------------|----------:|:----|:------|-----------:|
| Revolving Loan Facility            |     | $         |  9,000,000 |     | $        | - |     | $                |         - |     | $     |  9,000,000 |
| Other related party debt (Note 11) |     |           | 12,598,000 |     |          | - |     |                  | 2,272,993 |     |       | 14,870,993 |
| Total                              |     | $         | 21,598,000 |     | $        | - |     | $                | 2,272,993 |     | $     | 23,870,993 |

<div align='center'>F-55

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

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

Revolving Loan Facility

In June 2021, the Company entered into a revolving loan agreement with First Republic Bank (“First Republic”), which was subsequently acquired by JPMorgan Chase, (the “Bank”) providing up to $14,000,000 of advances (the “2021 Revolving Loan Agreement”). The advances accrue interest at a variable rate based on an index rate established by reference to the average 12-month trailing one-year US treasuries plus a spread of 1.80% per annum and a minimum floor rate of 1.5% per annum. The Company was not required to provide collateral for the advances or comply with any covenants. The advances were secured by a lien on certain personal assets of the CEO. In consideration for the security provided by the CEO, the Company issued common stock warrants to NLabs a significant shareholder of the Company (“NLabs”) in consideration for the CEO’s guaranteeing the advances.