Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 238

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 238
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 the convertible note option liability as of September 13, 2024, which was the date the Convertible Note was executed. As
of March 31, 2025, the fair value was remeasured using an option pricing model. The option pricing model was used to value the convertible
note option liability for the initial periods and subsequent measurement periods.

<div align='center'>F-20</div>

The convertible note option liability
was classified within Level 3 of the fair value hierarchy due to the use of unobservable inputs. The key inputs into the option pricing
model for the convertible note option liability were as follows:

|                       |     |   | March 31, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:----------------------|:----|:--|----------:|:--|:----|:--|-------------:|:--|
| Stock Price           |     | $ |      1.49 |   |     | $ |         3.81 |   |
| Expected term (years) |     |   |      0.95 |   |     |   |          1.2 |   |
| Volatility            |     |   |      80.0 | % |     |   |         75.0 | % |
| Risk-Free Rate        |     |   |      4.05 | % |     |   |         4.18 | % |
| Interest rate         |     |   |      6.41 | % |     |   |         6.49 | % |

|                              |     | Three months 
 ended        
 March 31,    
 2025         |         |   |
|:-----------------------------|:----|:-------------|--------:|:--|
| Balance, beginning of period |     | $            |  60,000 |   |
| Change in fair value         |     |              | (59,000 | ) |
| Balance, end of period       |     | $            |   1,000 |   |

Earn-out Share Liability

Following the closing of the Business
Combination, holders of certain capital stock of Private Veea immediately prior to the closing have the contingent right to receive up
to 4.5 million additional shares of Common Stock if certain trading-price based milestones of the Common Stock are achieved or a change
of control transaction occurs during the ten