Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 269

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 269
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 level 3. The subsequent measurement of the Private
Warrants is classified as Level 2 because these warrants are economically equivalent to the Public warrants, based on the terms
of the Private Warrant agreement, and as such their value is principally derived by the value of the Public Warrants. Significant deviations
from these estimates and inputs could result in a material change in fair value. For the three and nine months ended September 30, 2024,
there were no transfers amongst level 1, 2, and 3 values during the period.

The conversion feature of the Convertible
Promissory Notes is measured at fair value using a Monte Carlo model that fair values the conversion option.

The following table presents fair
value information as of September 30, 2024 and December 31, 2023, of the Company’s financial assets and liabilities that were accounted
for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine
such fair value.

| September 30, 2024                |     | Total |            |     | Level 1 |       |     | Level 2 |           |     | Level 3 |            |
|:----------------------------------|:----|:------|-----------:|:----|:--------|------:|:----|:--------|----------:|:----|:--------|-----------:|
| Assets                            |     |       |            |     |         |       |     |         |           |     |         |            |
| Money Market Funds                |     | $     |      2,750 |     | $       | 2,750 |     | $       |         - |     | $       |          - |
| Liabilities                       |     |       |            |     |         |       |     |         |           |     |         |            |
| Private warrant liability         |     |       |  1,261,492 |     |         |     - |     |         | 1,261,492 |     |         |          - |
| Convertible note option liability |     |       |    293,866 |     |         |     - |     |         |         - |     |         |    293,866 |
| Earn out share liability          |     |       | 28,850,000 |     |         |     - |     |         |         - |     |         | 28,850