Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 245

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 245
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 Veea shares was determined as follows:

|                                         |     | Private 
 Veea    
 Shares  |             |     | Veea         
 Shares after 
 conversion   
 ratio        |            |
| Private Veea Series A-2 Preferred       
 Stock                                   |     |         |  19,670,118 |     |              |  4,799,511 |
| Private Veea Series A-1 Preferred Stock |     |         |  41,179,790 |     |              |  8,078,761 |
| Private Veea Series A Preferred Stock   |     |         |  35,920,813 |     |              |  7,047,041 |
| Private Veea Common Stock               |     |         |   7,398,303 |     |              |  1,451,419 |
| Private Veea Common Stock               
 Warrants                                |     |         |   3,858,202 |     |              |    756,912 |
| Total                                   |     |         | 108,027,226 |     |              | 22,133,644 |

F-41 Veea Inc. and Subsidiaries Notes to the Consolidated Financial Statements For the Years ended December 31, 2024 and 2023

Public and private placement warrants

The 6,384,326Public Warrants issued at the time of Plum’s initial public offering, and 6,256,218warrants issued in connection with private placement at the time of Plum’s initial public offering (the “Private Placement Warrants”) remained outstanding and became warrants for the Company.

Earn-out Share Liability

Following the closing of the Business Combination, holders of certain capital stock of Private Veea immediately prior to the closing will have the contingent right to receive up to 4.5million additional shares of the Company’s common stock if certain trading-price based milestones of the Company’s common stock are achieved or a change of control transaction occurs during the ten-year period following the Closing.

Under accounting principles, the Company’s
obligation to issue the earnout shares is recorded as a contingent liability (the “Earn-out Share Liability”) in the Company’s
financial statements and the initial value of the Earn-out Share Lability is recorded as a transaction cost within operating expense
in the Company’s financial statements. For each subsequent reporting period, changes in the fair value of the Earn-out Share Liability
will be reported in the Company’s financial statements.

V