Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 265

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 265
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 as a modification
of the Bridge Notes. The unpaid principal amount and accrued unpaid interest on the Bridge Notes are due and payable upon the date of
the first to occur of: (i) the maturity date and (ii) the consummation of a debt or equity financing transaction with an unrelated third
party. Interest expense for the three months ended September 30, 2024 and 2023 was $195,155 and $237,500, respectively. Interest
expense for the nine months ended September 30, 2024 and 2023 was $670,155 and $762,500, respectively.

<div align='center'>F-60

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

In 2022 and 2023, NLabs made loans to
the Company evidenced by promissory notes in the aggregate principal amount of $3,098,000 (the “Promissory Notes” and collectively
with the Bridge Notes, the “Related Party Notes”). The Demand Notes bear interest on the outstanding principal amount at
a rate of 10% per annum, calculated on the basis of a 365-day year. Principal and interest on the Promissory Notes is repayable upon
the earlier of demand and December 31, 2023. The Demand Notes remained outstanding as of December 31, 2023 and subsequently extended
to September 30, 2024. Interest expense for the three months ended September 30, 2024 and 2023 was $

At the Closing, the Related Party
Notes were converted into shares of Common Stock at the Closing at a price of $5.00 per share of Common Stock, which shares were not
considered Existing Veea Shares and were in addition to the shares of Common Stock issued to holders of Existing Veea Shares. See Note 4 “Recapitalization” for further information regarding the conversion of the Related Party Notes.

CEO Expenses

The Company incurred expenses relating
to ordinary course travel expenses of the Company’s Chief Executive Officer and founder (“CEO”) for travel made by
the CEO on behalf of the Company. As of September 30, 2024 and December 31, 2023, the Company had accrued expenses reimbursable to the
CEO in the aggregate amount of $119,075 and $179,075, respectively. During