Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 165

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 165
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arrants 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 SPAC
Private Placement Warrants were added to the proceeds from the Plum IPO held in the trust account established at the closing of Plum
IPO (“Plum IPO Trust Account”).

For terms of our SPAC Private
Placement Warrants, please see “Description of Our Securities – Warrants – SPAC Private Placement Warrants.”

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 IPO pursuant to a promissory note (the “SPAC 2021 Note”). This loan was non-interest bearing and payable on the earlier of November 30, 2021, or the completion of the
Plum IPO. As of December 31, 2022, the Company has no borrowings under the SPAC 2021 Note. Borrowings under this note are no longer available.

In addition, in order to
finance transaction costs in connection with an intended Business Combination, the Plum Sponsor or an affiliate of the Plum Sponsor,
or certain of Plum’s officers and directors, and third parties committed to loan Plum funds as may be required (“SPAC Working Capital Loans”). If Plum completed a Business Combination, Plum would repay the SPAC Working Capital Loans out
of the proceeds of the Plum IPO Trust Account released to it. In the event that a Business Combination did not close, Plum could use
a portion of the working capital held outside the Plum IPO Trust Account to repay the SPAC Working Capital Loans but no proceeds held
in the Plum IPO Trust Account would be used to repay the SPAC Working Capital Loans. Up to $1,500,000 of the SPAC Working Capital Loans
were convertible into SPAC Private Placement Warrants of the post Business Combination entity at a price of $1.50 per warrant at the
option of the lender. Such warrants would be identical to the SPAC Private Placement Warrants. Except as set forth above, the terms of
such SPAC Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans.

On April 17, 2023, Plum issued
an unsecured promissory note, dated effective as of March 17, 2023 (the “March 2023 Note”), in the principal
amount