Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 124

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 124
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’s securities for a period of six (6) months following the applicable closing of the APA or the Crowdkeep
Note Purchase Agreement, respectively, subject to certain limited exceptions.

The form of lock-up agreement
signed by the Seller is herein referred to as the “Crowdkeep Lock-Up Agreement” and the form of lock-up agreement
signed by the Crowdkeep Investor is herein referred to as the “Crowdkeep Noteholder Lock-Up Agreement.” The
Crowdkeep Lock-Up Agreement and the Crowdkeep Noteholder Lock-Up Agreement have substantially similar terms, but the Crowdkeep Lock-Up
Agreement provides for distributions by the Seller to the Seller’s stockholders, pro rata based on their ownership of Seller, subject
to certain conditions.

Appointment of Chief Strategy Officer and Senior Vice President, Finance

On May 1, 2025, Randal V.
Stephenson was appointed the Company’s Senior Vice President, Finance and Chief Strategy Officer.

Equity Line of Credit

On December 2, 2024, the Company
entered into a common stock purchase agreement (the “White Lion Purchase Agreement”) and related registration
rights agreement (the “White Lion Registration Rights Agreement”) with White Lion Capital, LLC (“White Lion”). Pursuant to the ELOC Purchase Agreement, the Company has the right, but not the obligation, to direct White Lion
to purchase up to $25.0 million in aggregate gross purchase price of newly issued shares of common stock, subject to certain limitations
and conditions as described below (the “ELOC Program”), at a purchase price equal to (i) 96.5% of the volume
weighted average stock price for the three consecutive business days after a purchase notice is given, (ii) 98% of the volume weighted
average stock price on the day a notice is delivered, or (iii) the lowest traded price for a given purchase date.

The Company controls the timing
and amount of any sales to White Lion, which depends on a variety of factors including, among other things, market conditions, the trading
price of the Company’s common stock, and determinations by the Company as to appropriate sources of funding for its business and
operations. However, White Lion’s obligation to purchase shares is subject to certain conditions, including the daily trading volume
of the Company’s common stock. In all instances, the Company may not sell shares of its common stock under the ELOC Purchase Agreement
if it would result in White Lion and its affiliate beneficially owning more than