Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1342

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 1342
---

  
    Private Veea Series A-2 Preferred
    Stock 
     19,670,118  
     4,799,511 
  
    Private Veea Series A-1 Preferred Stock 
     41,179,790  
     8,078,761 
  
    Private Veea Series A Preferred Stock 
     35,920,813  
     7,047,041 
  
    Private Veea Common Stock 
     7,398,303  
     1,451,419 
  
    Private Veea Common Stock
    Warrants 
     3,858,202  
     756,912 
  
    Total 
     108,027,226  
     22,133,644 

F-18

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Public
and private placement warrants

The
6,384,326 Public Warrants issued at the time of Plum’s initial public offering, and 6,256,218 warrants issued in connection with
private placement at the time of Plum’s initial public offering (the “Private Placement Warrants”) remained outstanding
and became warrants for the Company.

Earn-out
Share Liability

Following the closing of the Business Combination, holders of certain
capital stock of Private Veea immediately prior to the closing will have the contingent right to receive up to 4.5 million additional
shares of the Company’s common stock if certain trading-price based milestones of the Company’s common stock are achieved
or a change of control transaction occurs during the ten-year period following the Closing.

Under accounting principles, the Company’s
obligation to issue the earnout shares is recorded as a contingent liability (the “Earn-out Share Liability”) in the Company’s
financial statements and the initial value of the Earn-out Share Lability is recorded as a transaction cost within operating expense
in the Company’s financial statements. For each subsequent reporting period, changes in the fair value of the Earn-out Share Liability
will be reported in the Company’s financial statements.

Veea
Transaction related expenses

The
below table represents the amount of Veea Inc. related transaction expenses included in operating expenses for the year ended December
31, 2024:

    December
    31, 2024 
  
    Legal expenses 
    $1,000,000