Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 229

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 229
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 |     | $         | 14,000,000 |     | $        | -        |   |     | $        | - |     | $     | 14,000,000 |
| Convertible note payable |     |           |    750,000 |     |          | (422,321 | ) |     |          | - |     |       |    327,679 |
| Total                    |     | $         | 14,750,000 |     |          | (422,321 | ) |     |          |   |     | $     | 14,327,679 |

| December 31, 2024        |     | Principal |            |     | Debt     
 Discount |            |   |     | Accrued  
 Interest |   |     | Total |            |
|:-------------------------|:----|:----------|-----------:|:----|:---------|:-----------|:--|:----|:---------|:--|:----|:------|-----------:|
| Revolving Loan Facility  |     | $         | 12,700,000 |     | $        | -          |   |     | $        | - |     | $     | 12,700,000 |
| Convertible note payable |     |           |  1,200,000 |     |          | (1,102,684 | ) |     |          | - |     |       |     97,316 |
| Total                    |     | $         | 13,900,000 |     | $        | (1,102,684 | ) |     | $        | - |     | $     | 12,797,316 |

Revolving Loan Facility

In June 2021, Private Veea entered
into a revolving loan agreement (the “2021 Revolving Loan Agreement”) with First Republic Bank, which was subsequently acquired
by JPMorgan Chase, (the “Bank”) providing up to $14.0 million of advances (collectively, the “Loan”). The Loan
accrues interest at a variable rate based on an index rate established by reference to the average 12-month trailing one-year US treasuries
plus a spread of 1.80% per annum and a minimum floor rate of 1.5% per annum. Interest is payable monthly in cash. Private Veea was not
required to provide collateral for the advances or comply with