Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 616

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 616
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 the initial Business Combination, (x)
if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading-day period commencing at least 150 days
after the initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization
or other similar transaction that results in all of the public shareholders having the right to exchange their Ordinary Shares for cash,
securities or other property (the “Lock-up”). Any permitted transferees would be subject to the same restrictions and other
agreements of the Plum Sponsor and the directors and executive officers with respect to any Founder Shares.

Private
Placement Warrants

Simultaneously
with the closing of the Plum Initial Public Offering, the Plum Sponsor purchased an aggregate of 6,256,218 Private Placement
Warrants at a price of $1.50 per Private Placement Warrant in a private placement, generating gross proceeds of $9,384,327. No underwriting
discounts or commissions were paid with respect to sale of the Private Placement Warrants. The issuance of the Private Placement Warrants
was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. The proceeds
from the Private Placement Warrants were added to the proceeds from the Plum Initial Public Offering held in the Trust Account.

The
Private Placement Warrants are identical to the Warrants sold in the Plum Initial Public Offering, except that the Private Placement
Warrants (including the underlying securities) are subject to certain transfer restrictions and the holders thereof are entitled to certain
registration rights, and, if held by the original holder or their permitted assigns, the Warrants (i) may be exercised on a cashless
basis and (ii) are not subject to redemption. If the Private Placement Warrants are held by holders other than the initial purchasers
or their permitted transferees, then the Warrants will be redeemable by Plum and exercisable by the holders on the same basis as the
Public Warrants included in the Units sold in the Plum Initial Public Offering.

Related
Party Loans

On
January 13, 2021, the Plum Sponsor agreed to loan the Company up to $300,000 to cover expenses related to the Plum Initial Public Offering