Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 116

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 the consummation of the Business Combination, divided by (B) the Exchange Ratio. On November 6, 2024, the warrant holder exercised
warrants to purchase 79,654 shares of Common Stock at an exercise price of $0.05 per share for an aggregate purchase price of $3,983.
The outstanding Exchanged Warrants are exercisable at the option of the holder until September 28, 2028, for an exercise price of $10.19
per share. As of September 30, 2025, there are 159,307 Exchanged Warrants outstanding.

2025 Investor Warrants

In connection with the August 2025 Public Offering, the Company issued
the warrants to purchase up to 9,189,096 shares of common stock investors (the “2025 Investor Warrants”), including related
parties. Each 2025 Investor Warrant entitles the holder to purchase one share of the Common Stock at an exercise price of $1.10. The exercise
price is subject to appropriate adjustment in the event of certain stock dividends and distributions, stock splits, stock combinations,
reclassifications or similar events affecting our common stock and also upon any distributions of assets, including cash, stock or other
property to our stockholders. No fractional shares of common stock will be issued in connection with the exercise of the warrant. In lieu
of fractional shares, the Company will pay the holder an amount in cash equal to the fractional amount multiplied by the exercise price.
The 2025 Investor Warrants will expire five years from their issuance date. The 2025 Investor Warrants have not been listed on Nasdaq
or any other national securities exchange or other nationally recognized trading system.

Each 2025 Investor Warrant is exercisable,
at the option of the holder thereof, in whole or in part, by delivering to a duly executed exercise notice accompanied by payment in full
in immediately available funds for the number of shares of our common stock purchased upon such exercise (except in the case of a cashless
exercise as described below).

A holder (together with its affiliates)
may not exercise any portion of the 2025 Investor Warrant to the extent that the holder would own more than 4.99% (or, at the election
of the holder, 9.99)% of the outstanding common stock immediately after exercise, except that upon at least 61 days’ prior notice
from the holder to the Company, the holder may increase the amount of