Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 157

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 157
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5 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 $3,058,861, as of the date of this prospectus, with the issuance of 2,109,560shares 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 to (i) 96.5% of the volume weighted average stock price for the three consecutive business days after a purchase notice is given, (ii) 98% of the volume weighted average stock price on the day a notice is delivered, or (iii) the lowest traded price for a given purchase date. The Company controls the timing and amount of any sales to White Lion, which depends on a variety of factors including, among other things, market conditions, the trading price of the Company’s common stock, and determinations by the Company as to appropriate sources of funding for its business and operations. However, White Lion’s obligation to purchase shares is subject to certain conditions, including the daily trading volume of the Company’s stock. In all instances, the Company may not sell shares of its common stock under the ELOC Purchase Agreement if it would result in White Lion and its affiliate beneficially owning more than 4.99% of its outstanding voting power or shares of common stock at any one point in time, or the aggregate number of shares of common stock would not exceed 19.99% of the voting power of the issued and outstanding common. As of July 17, 2025, the Company had sold a total of 358,000 shares of common stock under the ELOC Program. 99 DESCRIPTION OF OUR SECURITIES The following description summarizes certain important terms of our capital stock, including the provisions included in our Charter, Bylaws, Certificate of Designation and the Warrant Agreement