Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 219

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 219
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est expense for the years ended December 31, 2023 and December 31, 2022 was $ 290,288and $ 5,356, respectively.

Under the terms of the Business Combination Agreement
with Plum, at closing the Bridge Notes and Demand Notes will be converted into newly-issued Plum securities at a price of $ per share.
Shares issued upon conversion of the Bridge Notes and the Demand Notes are not included as part of the consideration issued to holders
of Company’s capital stock.

In January 2023, the Company’s Chief
Operating Officer made a loan to the Company in the aggregate principal amount of $. The loan accrues interest on the outstanding
principal amount at a rate of % per annum. Principal and interest on the loans are repayable upon the earlier of demand and December 31,
2023. The Company repaid the outstanding principal amount of the loan on March 16, 2023 in the amount of $.

Common Stock Warrants

In consideration for the guarantee by the Company’s
CEO of the Company’s obligations under the 2021 Revolving Loan Agreement and a previously outstanding loan agreement with First
Republic Bank, the Company issued warrants to purchase an aggregate of shares of the Company’s common stock. The exercise
price of the warrants is $ per share. The warrants are exercisable for a period of seven years. The warrants were equity classified
and had a fair value of $ on the date of grant which is recognized as deferred cost and amortized to interest expense over the
life of the loan agreements.

In December 2021, the Company issued warrants
to purchase shares of common stock in connection with the Bridge Notes issued to NLabs. The exercise price of the warrants is
$ per share. The warrants are exercisable for a period of seven years. The warrants were equity classified and had a relative
fair value of $ on the date of grant which was recognized as original issue discount on the Bridge Notes in the year ended December 31,
2021.

In 2022, the Company issued warrants to purchase
shares of common stock in connection with the Bridge Notes issued to NLabs. The exercise price of the warrants is $ per share.
The warrants are exercisable for a period of seven years. The warrants were equity classified and had a fair value of approximately
$ on the date of grant which was recognized as original issue discount on the Bridge Notes in the year ended December 31,
2022.

CEO Expenses

The Company incurred expenses relating to ordinary