Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 153

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 153
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 of $7.50 per share (subject to equitable adjustment for stock splits, stock dividends and the like with respect to our common stock after the closing) (the “ 2024 Note Conversion Price”) at any time after the closing at the sole election of the Investor. The outstanding obligations under each September 2024 Note will automatically convert at the Conversion Price if (i) the Company or its subsidiaries consummate one or more additional financings for equity or equity-linked securities for at least $20 million in the aggregate or makes one or more significant acquisitions valued in the aggregate (based on the consideration provided by the Company and its subsidiaries) to be at least $20 million, (ii) the Investors holding a majority of the aggregate outstanding obligations under the September 2024 Notes expressly agree to convert all obligations under the September 2024 Notes or (iii) the common stock trades with an average daily VWAP of at least $10.00 (subject to equitable adjustment for stock splits, stock dividends and the like with respect to the common stock after the Financing Closing) for ten (10) consecutive trading days. The obligations under each September 2024 Note will also automatically convert in connection with a Brokerage Transfer, as described below. 97 The September 2024 Notes and the Conversion Shares are subject to a lock-up for a period of 6 months after the Financing Closing, and such lock-ups have expired as of the date of this prospectus. The 2024 Note Offering Transferred 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