Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 311

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 311
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collectively, the “Crowdkeep Liabilities” and such acquisition of the Crowdkeep Assets and assumption of the Crowdkeep Liabilities together, the “Crowdkeep Transaction”) in consideration for the issuance to the Seller of 4,065,689 shares of common stock (the “Crowdkeep Purchase Price”).

Note Purchase Agreements and Convertible Promissory Notes

On April 17, 2025, and May
13, 2025, the Company and the Crowdkeep Investor, entered into two Crowdkeep Note Purchase Agreements. Pursuant to the Crowdkeep Note
Purchase Agreements, the Crowdkeep Investor loaned to the Company an aggregate of $1,000,000 in two tranches, of which $500,000 was
provided on April 17, 2025 and $500,000 was provided on May 13, 2025. In connection with the entry into the Crowdkeep Note Purchase
Agreements the Company issued to the Crowdkeep Investor unsecured convertible promissory notes. The Crowdkeep Convertible Notes have
an aggregate principal amount of $1,000,000, and the interest under the Crowdkeep Convertible Notes accrues at an annual rate of 8%.
The maturity date of the Crowdkeep Convertible Notes are April 17, 2026, and May 13, 2026, respectively.

Pursuant to the terms of
the Convertible Notes, upon an event of default, the outstanding principal amount of the applicable Crowdkeep Convertible Note, plus
accrued but unpaid interest, will become immediately due and payable in full. Events of default include failure to pay any principal
or interest amounts under the Crowdkeep Convertible Notes, failure to perform covenants in the Crowdkeep Convertible Notes and certain
bankruptcy and insolvency conditions of the Company. The Company may prepay all or any portion of the Crowdkeep Convertible Notes at
any time. The Crowdkeep Convertible Notes are convertible, in whole or in part, into shares of common stock at the option of the Crowdkeep
Investor, at a price per share of $5.00 subject to certain equitable adjustments. The Crowdkeep Convertible Notes will automatically
convert on the date that the closing price of the common stock is at $7.50 or above for ten (10) consecutive trading days within
any consecutive thirty (30) trading day period, equal to the lesser of (i) $7.50 per share and (