Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 43

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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    2025  
    2024 
  
    Earn-Out Liability 
     4,500,000  
       -  
     4,500,000  
     - 

17 - EMPLOYEE 401(k) PLAN

The Company sponsors a 401(k) plan
(the “Plan”) to provide retirement benefits for its employees.

As allowed under Section 401(k) of
the Internal Revenue Code, the Plan provides for tax-deferred salary contributions and after-tax contributions for eligible employees.
The Plan provides for tax-deferred salary contributions and after-tax contributions for eligible employees. Employee contributions are
limited to a maximum annual amount as set periodically by the Internal Revenue Code. The Company matches pretax and Roth employee contributions
up to 4% of eligible earnings that are contributed by employees. All matching contributions vest immediately. The Company’s matching
contributions to the Plan for the six months ended June 30, 2025 and 2024, totaled $37,240 and $77,697, respectively. A total of $202,050
is reflected in accrued expenses in the condensed consolidated balance sheet for matching contributions accrued but not yet paid.

18 - SUBSEQUENT EVENTS

The Company evaluated subsequent events
from June 30, 2025, the date of these financial statements, through the date on which the financial statements were issued (the “Issuance
Date”), for events requiring recording or disclosure in the financial statements as of and for the six months ended June 30, 2025.
The Company concluded that no events have occurred that would require recognition or disclosure in the financial statements, except as
described below:

Public Offering

On August 14, 2025, the Company closed
a public offering to purchase up to 9,189,096 shares of common stock and warrants to purchase up to 9,189,096 shares of common stock at
a combined offering price of $1.00 per share and accompanying warrant (the “Offering”). The Company received aggregate cash
gross process of approximately $6.0 million, before deducting placement agent fees and other offering expenses. The warrants have an exercise
price of $1.10 per share, are exercisable immediately and will expire five years from the original issuance date. Included in the aggregate
securities issued are 3,239,096 shares of common stock and accompanying warrants that were issued to NLabs in consideration and satisfaction
of