Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 101

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 101
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 Stock Purchase Agreement, the Company will have the right from time to time at its sole discretion
until the 24th month following signing of the Common Stock Purchase Agreement, to direct White Lion to purchase up to a specified maximum
number of shares of common stock as set forth in the Common Stock Purchase Agreement by delivering written notice to White Lion prior
to the commencement of trading on any trading day. The Company will control the timing and amount of any sales of the common stock to
White Lion. Actual sales of shares to White Lion under the Common Stock Purchase Agreement will depend on a variety of factors to be
determined by the Company from time to time, including, among other things, market conditions, and the trading price of the common stock.

The Company and White Lion executed definitive agreements
for the equity line of credit on December 2, 2024. For more information, see “Summary - Recent Developments.”

Note Purchase Agreement Termination

As previously disclosed,
on September 13, 2024, the Company and and VeeaSystems Inc. entered into note purchase agreements with certain accredited investors for
the sale of unsecured subordinated convertible promissory notes. Pursuant to the note purchase agreement with Harmonic Equity Partners
LLC (“Harmonic”), Harmonic was to purchase a note in an aggregate principal amount of $13.55 million (the “Commitment
Amount”) on or prior to October 15, 2024, which was subsequently extended to December 15, 2024. On December 31, 2024, the Company
and Harmonic entered into a mutual Settlement and Release Agreement (the “Settlement Agreement”), pursuant to which the Company
agreed to terminate Harmonic’s obligation to purchase a note in the principal amount of the Commitment Amount and a mutual release
of claims, in exchange for a payment to the Company of $5,364,159, which includes amounts previously paid to the Company.

Director and Officer Compensation

On November 11, 2024, the
Company issued 81,116 fully-vested restricted stock units (“RSUs”) to each non-employee director; and on December 30, 2024,
a fully-vested stock option award to purchase 3,036,308 shares of Common Stock at an exercise price of $3.89 per share to Allen Salmasi,
the Company’s Chief Executive Officer.

Components of Results of Operations

Revenue, net

The Company recognizes revenue
based on the satisfaction