Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 106

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 106
---
 impairment. These investments, which do not have
a stated contractual maturity date, were classified as Investments on the Company’s consolidated balance sheets.

15

10 - STOCKHOLDERS’ EQUITY

On September 13, 2024, the Company
consummated the Business Combination which was accounted for as a reverse recapitalization. In connection with the consummation of
the Business Combination (i) the Company de-registered from the Register of Companies in the Cayman Islands by way of continuation out
of the Cayman Islands and into the State of Delaware, migrating to and domesticating as a Delaware corporation (the “Domestication”)
and (ii) restated our certificate of incorporation (“Restated Certificate of Incorporation”). In connection with the Domestication,
each share of outstanding Class A ordinary shares were converted by operation of law into shares of Common Stock, on a one-for-one basis.
Upon filing of the Restated Certificate of Incorporation, each issued and outstanding share of Class B stock outstanding immediately prior
to the filing of the Restated Certificate of Incorporation was converted into shares of Common Stock on a one-for-one basis. Under the
Restated Certificate of Incorporation, the Company is authorized to issue 551,000,000 shares of capital stock, consisting of
(a) 550,000,000 shares of Common Stock with a par value of $0.0001 per share and (b) 1,000,000 shares of preferred
stock with a par value of $0.0001 per share.

Holders of Common Stock are entitled
vote on all matters submitted to the stockholders vote or approval, other than on any amendment to the Restated Certificate of Incorporation
(including any certificate of designations relating to any series of Preferred Stock) that relates solely to the terms of one or more
outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together as a class with
the holders of one or more other such series, to vote thereon pursuant to the Restated Certificate of Incorporation (including any certificate
of designations relating to any series of Preferred Stock). Holders of Common Stock are entitled to one vote per share on all
matters submitted to the stockholders for their vote or approval.

Equity Line of Credit

On December 2, 2024, the Company entered
into a common stock purchase agreement (“Common Stock Purchase Agreement”) and related