Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 230

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 230
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 Merger Sub with and into Private Veea was completed and the separate corporate existence of Plum Merger Sub ceased, with Private Veea as the surviving corporation becoming a wholly owned subsidiary of Plum. Following the Closing Plum changed its name from “Plum Acquisition Corp. I” to “Veea Inc.” (hereinafter “Veea” or “the Company” and Private Veea changed its name from “Veea Inc.” to “VeeaSystems Inc.” See Note 4 “Recapitalization” for more information. The Company has six wholly owned subsidiaries, VeeaSystems Inc., formerly known as Veea Inc. a Delaware corporation, Veea Solutions Inc., a Delaware corporation VeeaSystems Development Inc., formerly known as Veea Systems Inc., a Delaware corporation, Veea Systems Ltd., a company organized under the laws of England and Wales, VeeaSystems SAS, a French simplified joint stock company and Veea Systems Mexico, S. de R.L. de C.V., a limited liability company organized under the General Mercantile Corporations law of Mexico (“VeeaSystems MX”). VeeaSystems MX is 95% owned by Veea Systems Inc. and, due to local law requirements, the remaining 5% is held by Veea’s CEO The Company is headquartered in New York City with offices in the United States, Mexico and Europe. F-30 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023 2 – LIQUIDITY AND MANAGEMENT’S PLAN Since our inception the Company has incurred significant operating losses and negative cash flows. To date, the Company has financed its operations primarily through private placements of equity securities and debt. As of December 31, 2024 and 2023, the Company had an accumulated deficit of $ 217.8million and $ 170.3million, respectively. As of December 31, 2024 and 2023, the Company had cash of $ 1.7million and $ 6.0million, respectively. As of December 31, 2024, the Company had $ 13.9million outstanding debt, of which approximately $ 1.2million was outstanding under the September 2024 Notes and $ 12.7million was outstanding under our working capital facility. The Company’s consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things,