Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 236

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 236
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) (“Plum Merger Sub”). In connection with the consummation of the Business Combination (the “Closing”)
(i) Plum de-registered from the Register of Companies in the Cayman Islands by way of continuation out of the Cayman Islands and into
the State of Delaware, migrating to and domesticating as a Delaware corporation (the “Domestication”), and (ii) the merger
(the “Merger”) of Plum Merger Sub with and into Legacy Veea was completed and the separate corporate existence of Plum Merger
Sub ceased, with Legacy Veea as the surviving corporation becoming a wholly owned subsidiary of Plum. Following the Closing Plum changed
its name from “Plum Acquisition Corp. I” to “Veea Inc.” (hereinafter “Veea” or “the Company”
and Legacy Veea changed its name from “Veea Inc.” to “VeeaSystems Inc.” See Note 4 “Recapitalization” for more information.

The Company has five wholly owned subsidiaries,
VeeaSystems Inc., formerly known as Veea Inc. (“VeeaSystems US”) a Delaware corporation, Veea Solutions Inc., a Delaware corporation
VeeaSystems Development Inc., formerly known as Veea Systems Inc., a Delaware corporation, Veea Systems Ltd., a company organized under
the laws of England and Wales and VeeaSystems SAS, a French simplified joint stock company. The Company is headquartered in New York City
with offices in the United States (“U.S.”) and Europe.

2 - LIQUIDITY AND MANAGEMENT’S PLAN

During the nine months ended September 30, 2024 and 2023, the Company
has incurred net losses of $ million and $ million, respectively, and had an accumulated deficit of $ million as of September
30, 2024. The Company expects to continue to incur net losses as it continues to grow and scale its business. Historically, the Company’s
activities have been financed through private placements of equity securities and debt to related parties.

<div align='center'>F-43

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

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

At the Closing of the Business Combination,
the Company converted approximately $ million of related party debt to equity concurrently; and received $ million in proceeds from
the issuance of its convertible promissory note with a commitment from a convertible note purchaser for the remaining