Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 29

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 investments would be classified as a Level 3
financial instrument within the fair value hierarchy based on the nature of the fair value inputs. Any adjustments to the carrying values
are recognized in other income, net in the Company’s consolidated statements of operations and comprehensive loss. As of December
31, 2024, the Company performed the qualitative assessment for impairment of its investments. Based on this qualitative assessment, impairment
indicators were present for one of its investments; therefore, the company performed an analysis to estimate its fair value and recognized
an impairment loss of $216,278. As of September 30, 2025, there were no indicators of impairment. These investments, which do not have
a stated contractual maturity date, were classified as Investments on the Company’s consolidated balance sheets.

15

10 - STOCKHOLDERS’ EQUITY

On September 13, 2024, the Company
consummated the Business Combination which was accounted for as a reverse recapitalization. In connection with the consummation of
the Business Combination (i) the Company 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) restated our certificate of incorporation (“Restated Certificate of Incorporation”). In connection with the Domestication,
each share of outstanding Class A ordinary shares were converted by operation of law into shares of Common Stock, on a one-for-one basis.
Upon filing of the Restated Certificate of Incorporation, each issued and outstanding share of Class B stock outstanding immediately prior
to the filing of the Restated Certificate of Incorporation was converted into shares of Common Stock on a one-for-one basis. Under the
Restated Certificate of Incorporation, the Company is authorized to issue 551,000,000 shares of capital stock, consisting of
(a) 550,000,000 shares of Common Stock with a par value of $0.0001 per share and (b) 1,000,000 shares of preferred
stock with a par value of $0.0001 per share.

Holders of Common Stock are entitled
vote on all matters submitted to the stockholders vote or approval, other than on any amendment to the Restated Certificate of Incorporation
(including any certificate of designations relating to any series of Preferred Stock) that relates solely to the terms