Company: VEEAW
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0001213900-25-118382
Chunk: 10

Company: VEEA INC.
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 10
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 votes cast at the Annual Meeting of the stockholders by the holders of stock entitled to vote in the election. Board Recommendation THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” EACH OF THE CLASS I DIRECTOR NOMINEES SUBMITTED PURSUANT TO THE DIRECTOR ELECTION PROPOSAL. 7 PROPOSAL NO. 2 — THE REVERSE STOCK SPLIT PROPOSAL Introduction Our Board of Directors has adopted resolutions (1) declaring that submitting an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split, as described below, was advisable, and (2) directing that a proposal to approve the Reverse Stock Split be submitted to the holders of our common stock for their approval. If approved by our stockholders, the Reverse Stock Split proposal would permit (but not require) our Board to effect a reverse stock split of our common stock, if deemed necessary by our Board, by a ratio of not less than one-for-two (1:2) and not more than one-for-twenty (1:20), with the exact ratio to be set at a whole number within this range as determined by our Board in its sole discretion. We believe that enabling our Board to set the ratio within this stated range will provide us with the flexibility to implement the Reverse Stock Split in a manner designed to maximize the anticipated benefits for our stockholders. The intention of the Board in obtaining approval for the authority to effect a Reverse Stock Split would be to increase the stock price of our common stock sufficiently in order to better assure continued compliance with the Nasdaq Stock Market’s listing requirements. Our common stock is currently listed on the Nasdaq Global Market. On September 29, 2025, we received a notice from the Nasdaq (the “ Stock Price Noncompliance Notice”) indicating that we were not in compliance with the continued listing requirements set forth in Nasdaq Lising Rule 5550(a)(2) (the “ Minimum Bid Price Requirement”) because our common stock had fallen below $1.00 per share for 30 consecutive business days. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until March 30, 2026, to regain compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance with the Minimum Bid Price Requirement within by March 30, 2026, the Company may be eligible for an additional grace period. To qualify