Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 222

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 222
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 |         |            |
| Private warrant liability         |     |       |    840,995 |     |         | - |     |         | 840,995 |     |         |          - |
| Convertible note option liability |     |       |     60,000 |     |         | - |     |         |       - |     |         |     60,000 |
| Earn-out Share Liability          |     |       | 15,560,000 |     |         | - |     |         |       - |     |         | 15,560,000 |
| Total                             |     | $     | 16,460,995 |     | $       | - |     | $       | 840,995 |     | $       | 15,620,000 |

Convertible Note Option Liability

The Company established the initial
fair value for the convertible note option liability as of September 13, 2024, which was the date the Convertible Note was executed. As
of March 31, 2025, the fair value was remeasured using an option pricing model. The option pricing model was used to value the convertible
note option liability for the initial periods and subsequent measurement periods.

F-20

The convertible note option liability
was classified within Level 3 of the fair value hierarchy due to the use of unobservable inputs.

|                       |     |   | March 31, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:----------------------|:----|:--|----------:|:--|:----|:--|-------------:|:--|
| Stock Price           |     | $ |      1.49 |   |     | $ |         3.81 |   |
| Expected term (years) |     |   |      0.95 |   |     |   |          1.2 |   |
| Volatility            |     |   |      80.0 | % |     |   |         75.0 | % |
| Risk-Free Rate        |     |   |      4.05 | % |     |   |         4.18 | % |
| Interest rate         |     |   |      6.41 | % |     |   |         6.49 | % |

|                              |     | Three months 
 ended        
 March 31