Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 155

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 155
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 Shares are not be subject to any lock-up restrictions, but for a period of 6 months after the Closing they were separately designated by the Transfer agent and kept as book entry shares on the Transfer Agent’s records and were not be eligible to be held by Depository Trust Company (“DTC”) without the investor first notifying the Company of its intent to transfer any such shares to a brokerage account and/or to be held by DTC or another nominee (a “Brokerage Transfer”). If the investor provides such notice or otherwise has any such shares subject to a Brokerage Transfer within 6 months after the Closing of the Business Combination, a portion of the outstanding obligations under such Investor’s September 2024 Note will automatically convert into a number of 2024 Note Conversion Shares equal to the number of the transferred shares subject to such Brokerage Transfer, and the lock-up period for such 2024 Note Conversion Shares would be extended for an additional 6 months to 12 months after the closing of the September 2024 Note Offering. As of December 31, 2024, $250,000 in aggregate principal amount of the September 2024 Notes, together with associated interest, had automatically converted upon the occurrence of a Brokerage Transfer. 2025 Convertible Note Financing Note Purchase Agreements and Convertible Promissory Notes On April 17, 2025, and May 13, 2025, the Company and the Crowdkeep Investor, entered into two 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 tranches, of which $500,000 was provided on April 17, 2025 and $500,000 was provided on May 13, 2025. In connection with the entry into the Crowdkeep Note Purchase Agreements the Company issued to the Crowdkeep Investor unsecured convertible promissory notes. The Crowdkeep Convertible Notes have an aggregate principal amount of $1,000,000, and the interest under the Crowdkeep Convertible Notes accrues at an annual rate of 8%. The maturity date of the Crowdkeep Convertible Notes are April 17, 2026, and May 13, 2026, respectively. Pursuant to the terms of the Convertible Notes, upon an event of default, the outstanding principal amount of the applicable Crowdkeep Convertible Note, plus accrued but unpaid interest, will become immediately due and payable in full