Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 117

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 117
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2025). In addition, Mr. Stephenson received non-qualified stock options to purchase 88,000 shares of common stock, with 19,000 shares vesting on each of May, 31 2025 and June 30, 2025, 12,500 shares vesting on May 1, 2026 and the remaining stock options vesting in equal amounts quarterly until the award is fully vested. Mr. Stephenson may also be awarded additional non-qualified options dependent upon certain performance metrics based on the Company’s cash position as of July 1, 2025. Appointment of Acting Chief Revenue Officer On July 15, 2025, Mr. Helder Antunes a current member of the Company’s Board of Directors was appointed acting Chief Revenue Officer. Mr. Helder is not entitled to any additional compensation for acting in such capacity. Mr. Antunes has served on the Company’s Board of Directors since September 2024. Most recently, Mr. Antunes served as Chief Executive Officer of Crowdkeep, Inc. Related Party Notes Through July 2025, NLabs has made loans to the Company in the aggregate principal amount of $3,176,000 (the “ 2025 Related Party Notes”). Interest on the loans accrue at a rate of 10% per annum, calculated on the basis of a 365-day year. The Company is expected to propose satisfying the payment of the outstanding notes, plus accrued interest, in the aggregate amount of approximately $3,237,356, as of the date of this prospectus, with the issuance of 2,232,659 shares of common stock with accompanying common warrants in this offering, based on the assumed offering price of $1.45 per share. 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%