Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 155

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 155
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 each case subject to certain equitable adjustments. The Crowdkeep Note Purchase Agreements and Crowdkeep Convertible Notes include other customary terms and conditions. Lock-Up Agreements In connection with the Crowdkeep APA (as discussed above) and the Crowdkeep Note Purchase Agreements, the Seller and the Crowdkeep Investor entered into lock-up agreements pursuant to which the Seller and the Crowdkeep Investor agreed not to effect any sale, distribution or transfer of any of the shares of common stock received in the transaction or any Crowdkeep Conversion Shares will be subject to transfer restrictions and restrictions against selling short or hedging the Company’s securities for a period of six (6) months following the applicable closing of the APA or the Crowdkeep Note Purchase Agreement, respectively, subject to certain limited exceptions. 98 The form of lock-up agreement signed by the Seller is herein referred to as the “Crowdkeep Lock-Up Agreement” and the form of lock-up agreement signed by the Investor is herein referred to as the “Crowdkeep Noteholder Lock-Up Agreement.” The Crowdkeep Lock-Up Agreement and the Crowdkeep Noteholder Lock-Up Agreement have substantially similar terms, but the Crowdkeep Lock-Up Agreement provides for distributions by the Seller to the Seller’s stockholders, pro rata based on their ownership of Seller, subject to certain conditions. 2025 NLab Note Financing Through July 14, 2025, NLabs made loans to the Company in the aggregate principal amount of approximately $3,176,000 in connection with the 2025 Related Party Notes. Interest on the 2025 Related Party Notes accrue at a rate of 10% per annum, calculated on the basis of a 365-day year. Principal and accrued interest is payable on demand. The Company is expected to propose satisfying its obligation to repay the outstanding notes, plus accrued interest, in the aggregate amount of approximately $3,237,356, as of the date of this prospectus, with the issuance of 2,232,659 shares of common stock with accompanying common warrants in this offering, based on the assumed offering price of $1.45 per share. Equity Line of Credit On December 2, 2024, the Company entered into the ELOC Purchase Agreement and the White Lion Registration Rights Agreement with White Lion. Pursuant to the ELOC Purchase Agreement, the Company has the right, but not the obligation, to direct White Lion to purchase up to 25,000,000 shares of common stock, subject to certain limitations and conditions as described below at a purchase price equal