Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 846

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 846
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ITEM
3. LEGAL PROCEEDINGS.

In
the normal course of business, the Company may become involved in various lawsuits and legal proceedings. While the ultimate results
of these matters cannot be predicted with certainty, management does not expect them to have a material adverse effect on the financial
position or results of operations of the Company.

ITEM
4. MINE SAFETY DISCLOSURES

None.

50

PART II

ITEM
5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASERS OF EQUITY SECURITIES

Market
information  

Our shares of Common Stock and
public warrants are listed on the Nasdaq Stock Market LLC (“Nasdaq”) under the symbols “VEEA” and “VEEAW”
respectively. On March 28, 2025, the closing price of our Common Stock was $1.56 per
share and the closing price for our Warrants was $0.08 per warrant.

Holders of Record

As of March 14, 2025, we had 927 holders of record of our common stock
and 1 holder of record of Public Warrants and 5 holders of record of our Private Warrants. The actual number of holders of our common
stock is greater than this number of record holders and includes stockholders who are beneficial owners, but whose shares are held in
street name by brokers or held by other nominees. This number of holders of record also does not include stockholders whose shares may
be held in trust by other entities.

Dividends

We
have never paid any cash dividends on our common stock. We currently intend to retain all available funds and any future earnings for
use in the operation of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future. Any
future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition,
operating results, capital requirements, general business conditions and other factors that our board of directors may deem relevant.

51

Securities
Authorized for Issuance Under 2024 Plan

We
have adopted and approved the 2024 Plan. Under the 2024 Plan, we may grant cash and equity incentive awards to eligible service providers
in order to attract, motivate and retain the talent for which we compete. 4,460,437 shares of Common Stock were initially reserved for
future issuance under the