Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 271

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 271
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 in purchase price
for such September 2024 Notes in the aggregate (the “Financing Closing”). The Company received $[__] million in proceeds from
the issuance of its convertible promissory note with a commitment from a convertible note purchaser for the remaining unfunded amount
of $13.6 million, which is to be funded on or prior to November 15, 2024, subsequently extended to December 15, 2024. In addition to a
September 2024 Note, each Investor received as a transfer from NLabs immediately prior to the Financing Closing a number of shares of
Private Veea’s Series A-1 Preferred Stock that upon the Closing became a number of registered shares of our common stock equal to
such Investors’ original principal note loan amount under their respective notes divided by $7.50 (the “Transferred Shares”).
2,000,000 Transfer Shares were delivered to Investors at the Financing Closing. The Note Purchase Agreements include customary registration
rights.

The Transferred Shares were recorded at a fair value of $21.6 million
on the Company’s consolidated financial statements, which reflected a significant discount to the face amount of the September 2024
Notes, In addition to the cash received at the Financing Closing, one of the Investors committed to purchase approximately $13.6 million
(the “Commitment Amount”) of September 2024 Notes, on or prior to November 15, 2024, which date was subsequently extended
to December 15, 2024. On December 31, 2024, the Company and the Investor entered into a mutual Settlement and Release Agreement pursuant
to which the Company agreed to terminate the Investor’s obligation to purchase a note in the Commitment Amount and provided for
a mutual release of claims, in exchange for a payment to the Company of an aggregate amount of approximately $5.4 million, which amount
includes payments previously made to the Company in respect of the Commitment Amount. As the Company received approximately $1.5 million
of the total expected $15 million proceeds at the Financing Closing, a proportional amount (approximately $19.5 million) of the substantial
discount had been deferred and recorded as a deferred financing asset on the Company’s consolidated financial statements. At December
31, 2024, the deferred financing assets was reversed on the Company’s consolidated financial statements.

The Company and Private Veea are co-borrowers under each September 2024 Note (together, the “Borrowers”)