Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 294

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 294
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4, the Private Placement Warrants are presented within warrant liabilities on the consolidated balance sheet.

See Note 14, Fair Value Measurements, for additional information on the Company’s measurements with respect to the warrants issued in connection with the foregoing transactions.

Private Veea Warrants

Upon the closing of the Business Combination, the Related Party Common Stock Warrants were exercised in whole, on a net basis, for 3,880,000 shares of common stock of Private Veea at a conversion price of $0.01 per share for an aggregate purchase price of $38,800. A total of 21,798 shares of common stock were surrendered in payment of the purchase price.

In connection with the Business Combination, the Company’s equity-classified Preferred stock warrants were exchanged for common stock warrants of the Company (each an “Exchanged Warrant”) to purchase a number of shares of common stock, after adjustment for anti-dilutive shares, equal to the product of (i) the number of shares of Private Veea’s common stock subject to such Preferred Stock warrant immediately prior to the Business Combination and (ii) the Exchange Ratio, at an exercise price per share equal to (A) the exercise price per share of such Preferred Stock warrant immediately prior to the consummation of the Business Combination, divided by (B) the Exchange Ratio. On November 6, 2024, the warrant holder exercised warrants to purchase 79,654 shares of common stock at an exercise price of $0.05 per share for an aggregate purchase price of $3,983. The outstanding Exchanged Warrants are exercisable at the option of the holder until September 28, 2028 for an exercise price of $10.19 per share. As of December 31, 2024, there are 159,307 Exchanged Warrants outstanding.

<div align='center'>F-53

Veea Inc. and Subsidiaries

Notes to the Consolidated Financial Statements

For the Years ended December 31, 2024 and 2023</div>

12 - RELATED PARTY TRANSACTIONS

Lease Agreements

On March 1, 2014, Private Veea entered into a sublease agreement with NLabs
Inc., an affiliate of the Company’s CEO that held approximately 26% of the Company’s outstanding capital stock at December
31, 2024, for office space for an initial term of five years. In 2018, Private Veea renewed the sublease for an additional five-year