Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 221

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 221
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 suppliers and contract manufacturers.
Unconditional purchase obligations are obligations that are enforceable and legally binding on the Company and specify all significant
terms, including quantities to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction.
Unconditional purchase obligations exclude agreements that are cancellable without penalty.

Leases

The Company leases office
space in the U.S., including office space from related parties as disclosed in Note 10 - Related Party Transactions. These
leases expire at various dates through 2025. Under the terms of the various lease agreements, the Company may bear certain costs such
as maintenance, insurance and taxes. Lease agreements may provide for increasing rental payments at fixed intervals. The Company’s
CEO has guaranteed the obligations under the office space leased in New Jersey. The Company also leases offices in the United Kingdom
and France, under short-term arrangements of twelve months or less.

| Lease cost:                                                            
 Operating lease cost                                                   |     | Years ended December 31, 
 2023                     |           |   |     | 2022 |           |   |
|:-----------------------------------------------------------------------|:----|:-------------------------|----------:|:--|:----|:-----|----------:|:--|
| Other than related parties                                             |     | $                        |   352,911 |   |     | $    |   352,911 |   |
| Related parties                                                        |     |                          |   483,592 |   |     |      |   483,592 |   |
| Total                                                                  |     |                          |   836,503 |   |     |      |   836,503 |   |
| Short-term lease cost                                                  |     |                          |           |   |     |      |           |   |
| Other than related parties                                             |     |                          |    35,749 |   |     |      |   180,998 |   |
| Related parties                                                        |     |                          |         - |   |     |      |         - |   |
| Total                                                                  |     |                          |    35,749 |   |     |      |   180,998 |   |
| Variable lease cost                                                    |     |                          |           |   |     |      |           |   |
| Other than related parties                                             |     |                          |    27,917 |   |     |      |    36,076 |   |
| Related parties                                                        |     |                          |         - |