Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 100

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 100
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.00 (subject to equitable adjustment for stock splits, stock dividends and the like with respect
to the Common Stock after the Financing Closing) for ten (10) consecutive trading days. The obligations under each September 2024 Note
will also automatically convert in connection with a Brokerage Transfer, as described below.

The September 2024 Notes and
the Conversion Shares are subject to a lock-up for a period of 6 months after the Financing Closing (subject to early release for a liquidation,
merger, share exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange
their equity holdings in the Company for cash, securities or other property, and subject to customary permitted transfer exceptions).
The Transferred Shares are not be subject to any lock-up restrictions, but for a period of 6 months after the Closing they will be separately
designated by SPAC’s transfer agent and kept as book entry shares on the transfer agent’s records and will not be eligible
to be held by Depository Trust Company (“DTC”) without the Investor first notifying the Company of its intent to transfer
any such Transferred Shares to a brokerage account and/or to be held by DTC or another nominee (a “Brokerage Transfer”). If
the Investor provides such notice or otherwise has any Transferred Shares subject to a Brokerage Transfer within 6 months after the Closing,
a portion of the outstanding obligations under such Investor’s Note will automatically convert into a number of Conversion Shares
equal to the number of Transferred Shares subject to such Brokerage Transfer, and the lock-up period for such Conversion Shares will be
extended for an additional 6 months to 12 months after the Financing Closing.

The Note Purchase Agreements
include customary registration rights.

Equity Line of Credit

On November 15, 2024, the
Company and White Lion signed a term sheet providing for the issuance by the Company to White Lion of up to $25 million of shares of
the Company’s common stock. The Company anticipates closing the transactions contemplated by the term sheet on or about
November 20, 2004. At the closing, the Company and White Lion will
enter into a common stock purchase agreement (the “Common Stock Purchase Agreement”) and related registration rights
agreement. Pursuant to the Common Stock Purchase Agreement, the Company has the right to sell to White Lion up to the lesser of (i)
25,000,000 shares of common stock (“ELOC Shares) and (ii