Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 70

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 70
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 only be able to exercise its public warrants on a “cashless basis” under certain circumstances, and if a public warrant holder does so, such public warrant holder will receive fewer the common stock from such exercise than if a public warrant holder were to exercise such public warrants for cash. The Warrant Agreement provides that in the following circumstances holders of the public warrant who seek to exercise their warrants will not be permitted to do so for cash and will, instead, be required to do so on a cashless basis in accordance with Section 3(a)(9) of the Securities Act: (i) if the common stock issuable upon exercise of the public warrants are not registered under the Securities Act in accordance with the terms of the Warrant Agreement; (ii) if Veea has so elected and the common stock are at the time of any exercise of a public warrant not listed on a national securities exchange such that they satisfy the definition of “covered securities” under Section 18(b)(1) of the Securities Act; and (iii) if Veea has so elected and it calls the public warrants for redemption. If you exercise your public warrants on a cashless basis, you would pay the warrant exercise price by surrendering all of the public warrants for that number of the common stock equal to the less of (A) the quotient obtained by dividing (x) the product of the number of the common stock underlying the public warrants, multiplied by the excess of the “fair market value” of the common stock (as defined in the next sentence) over the exercise price of the public warrants by (y) the fair market value and (B) 0.361. The “fair market value” is the average reported closing price of the common stock for the 10 trading-days ending on the third trading-day prior to the date on which the notice of redemption is sent to the holders of the public warrants. As a result, you would receive fewer shares of the common stock from such exercise than if you were to exercise such public warrants for cash. There can be no assurance that the public warrant will be in the money at the time they become exercisable, and they may expire worthless. The exercise price for the outstanding public warrants is $11.50 per share. There can be no assurance that such public warrants will be in the money following the time they become exercisable and prior to their expiration, and as such, the public warrants may expire worthless. The Warrant Agreement designates the courts of the State of New York or the United States District