Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 96

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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contributions to the Plan for the three months ended March 31, 2025 and 2024, totaled $37,240 and $40,553, respectively.

17 - SUBSEQUENT EVENTS

The Company evaluated subsequent events
from March 31, 2025, the date of these financial statements, through the date on which the financial statements were issued (the “Issuance
Date”), for events requiring recording or disclosure in the financial statements as of and for the three months ended March 31,
2025. The Company concluded that no events have occurred that would require recognition or disclosure in the financial statements, except
as described below.

Asset Purchase Transaction with
Crowdkeep, Inc.

Asset Purchase Agreement 

On May 13, 2025, the Company entered
into an Asset Purchase Agreement (the “APA”) with Crowdkeep, Inc., a Delaware corporation (the “Seller”), pursuant
to which, subject to the terms and conditions set forth in the APA, the Company acquired, upon the closing (the “Crowdkeep Closing”,
and the date of such Crowdkeep Closing, the “Crowdkeep Closing Date”) certain assets of Seller relating to Seller’s
IoT technology platform business (collectively, the “Crowdkeep Assets”), free and clear of any liens other than certain specified
liabilities of Seller that are being assumed (collectively, the “Crowdkeep Liabilities” and such acquisition of the Crowdkeep
Assets and assumption of the Crowdkeep Liabilities together, the “Crowdkeep Transaction”) in consideration for the issuance
to the Seller of 4,065,689 shares of Common Stock (the “Purchase Price”).

The APA contains other customary representations,
warranties and covenants of the parties. The foregoing summary of the APA is not complete and is qualified in its entirety by reference
to the full text of the APA, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

21

Note Purchase Agreements and
Convertible Promissory Notes

On April 17, 2025, and May 13, 2025,
the Company and the majority stockholder of the Seller (“Crowdkeep Investor”), entered into two Note Purchase Agreements (the
“Crowdkeep Note Purchase Agreements”). Pursuant to the Crowdkeep Note Purchase Agreements, the Crowdkeep Investor loaned to
the Company an aggregate of $1,000,000 in two tr