Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 373

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 373
---
     55,444 
  
    2026 
     55,444 
  
    2027 
     55,444 
  
    2028 
     55,444 
  
    2029 
     55,444 
  
    Thereafter 
     508,841 

    $786,061 

7
- DEBT

Total
outstanding debt of the Company is comprised of the following, including convertible notes and other related party debt: 

    December
    31, 2024 
    Principal  
    Debt
    Discount  
    Accrued
    Interest  
    Total 
  
    Revolving
    Loan Facility 
    $12,700,000  
    $-  
    $                  -  
    $12,700,000 
  
    Convertible
    note payable 
     1,200,000  
     (1,102,684) 
     -  
     97,316 
  
    Total 
    $13,900,000  
    $(1,102,684) 
    $-  
    $12,797,316 

    December
    31, 2023 
    Principal  
    Debt
    Discount  
    Accrued
    Interest  
    Total 
  
    Revolving
    Loan Facility 
    $9,000,000  
    $              -  
    $-  
    $9,000,000 
  
    Other
    related party debt (Note 11) 
     12,598,000  
     -  
     2,272,993  
     14,870,993 
  
    Total 
    $21,598,000  
    $-  
    $2,272,993  
    $23,870,993 

F-22

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Revolving
Loan Facility

In June 2021, the Company entered into
a revolving loan agreement (the “2021 Revolving Loan Agreement”)with First Republic Bank , which was subsequently acquired
by JPMorgan Chase, (the “Bank”) providing up to $14,000,000 of