Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 121

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 121
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604,426, with the stock price of shares purchased
by the White Lion ranging from $1.79 per share to $3.31 per share. The Company issued to White Lion 27,498 shares of common stock as
a commitment fee (the “ELOC Commitment Shares”). The fair value of the ELOC Commitment Shares was $25,000,
which pursuant to ASC 815, was recorded in transaction costs in the condensed consolidated statement of operations and comprehensive
income (loss) of the Company for the three months ended March 31, 2025. Further, the Common Stock Purchase Agreement provided for the
issuance of additional Commitment Shares to the Common Stock Purchaser if the Company failed to sell at least $1,000,000 in gross proceeds
to the Common Stock Purchaser by the sixth-month anniversary of signing of the Common Stock Purchase Agreement. The Company and the Common
Stock Purchaser amended the Common Stock Purchase Agreement effective of June 2, 2025 (the “ELOC Amendment”)
to provide for (i) an extension of the time period to December 15, 2025 and (ii) an increase the gross proceeds sold under the Common
Stock Purchase Agreement to $1,250,000. If the Company fails to sell such amount of, the number of additional Commitment Shares would
be equal to $50,000 divided by the volume weighted average stock price of the Common Stock 10 days prior to December 15, 2025. White
Lion has agreed that during the term of the ELOC Purchase Agreement, neither it nor any of its affiliates will engage in any short sales
or hedging transactions involving the common stock. For the period commencing on April 1, 2025 and ending on May 28, 2025, the Company
sold 117,500 shares to White Lion under the ELOC Program for aggregate proceeds of $232,340, with the stock price of shares purchased
by White Lion ranging from $1.60 per share to $2.35 per share.

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Components of Results of Operations

Sales, net

The Company recognizes revenue
based on the satisfaction of distinct obligations to transfer goods and services to customers. The Company generates revenue from hardware
sales and the sale of licenses and subscriptions. The Company applies a five-step approach as defined in ASC 606, “Revenue from Contracts with Customers”, in determining the amount and timing of revenue to be