Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 279

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 279
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keep Noteholder Lock-Up Agreement have substantially similar terms, but the Crowdkeep Lock-Up Agreement provides for distributions by the Seller to the Seller’s stockholders, pro rata based on their ownership of Seller, subject to certain conditions. September 2024 Convertible Note Financing Simultaneously with the Closing of the Business Combination, the Company and Private Veea issued convertible notes under note purchase agreements (the “ 2024 Note Purchase Agreements”) with certain accredited investors unaffiliated with Plum and Private Veea (each, an “ 2024 Note Offering Investor”) for the sale of unsecured subordinated convertible promissory notes (the “ September 2024 Notes”) as part of a private placement offering of up to $15 million in purchase price for such September 2024 Notes in the aggregate (the “ September 2024 Note Offering”). The Company received $1.45 million in proceeds from the issuance of its convertible promissory note with a commitment from a convertible note purchaser for the remaining unfunded amount of $13.55, which is to be funded on or prior to November 15, 2024, subsequently extended to December 15, 2024. In addition, each Investor received as a transfer from NLabs immediately prior to the September 2024 Note Offering a number of shares of Private Veea’s Series A-1 Preferred Stock that upon the Closing of the Business Combination became a number of registered shares of our common stock equal to such 2024 Note Offering Investors’ original principal note amount divided by $7.50 (the “ 2024 Note Offering Transferred Shares”). 2,000,000 Transfer Shares were delivered to the 2024 Note Offering Investors at the closing of the September 2024 Note Offering. The 2024 Note Purchase Agreements include customary registration rights. The 2024 Note Offering Transferred Shares were recorded at a fair value of $21.6 million on the Company’s consolidated financial statements, which reflected a significant discount to the face amount of the September 2024 Notes, In addition to the cash received at the closing of the September 2024 Note Offering, one of the 2024 Investors (the “ Principal Investor”) committed to purchase approximately $13.6 million (the “ 2024 Note Commitment Amount”) of September 2024 Notes, on or prior to November 15, 2024, which date was subsequently extended to December 15, 2024. On December 31, 2024, the Company and