Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 26

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 the Securities Act, of the shares of Common
Stock issuable upon exercise of the warrants. Such registration statement was declared effective by the SEC on January 15, 2025.

With the exception of the Private
Placement Warrants, in no event will the Company be required to net cash settle any warrant. In the event that a registration statement
is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for
the unit solely for the shares of Common Stock underlying such Warrant.

15

Redemption of Warrants When the
Price per Share of Common Stock Equals or Exceeds $18.00

Once the Warrants become exercisable,
the Company may redeem the outstanding Warrants (except with respect to the Private Placement Warrants):

●in whole and not in part;

●at a price of $0.01 per warrant;

●upon not less than 30 days’
prior written notice of redemption to each warrant holder; and

●if, and only if, the last reported
sale price of our Common Stock equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon
exercise or the exercise price of a warrant) for any 20 trading days within a 30-trading day period ending three trading days before
the Company sends the notice of redemption to the warrant holders.

Redemption of Warrants When the
Price per Share of Common Stock Equals or Exceeds $10.00

Once the Warrants become exercisable,
the Company may redeem the outstanding Warrants:

●in whole and not in part;

●at $0.10 per warrant upon a
minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless
basis prior to redemption and receive that number of shares, based on the redemption date and the “fair market value” (as
defined above) of our Common Stock;

●if, and only if, the closing
price of our Common Stock equals or exceeds $10.00 per public share (as adjusted for adjustments to the number of shares issuable upon
exercise or the exercise price of a warrant) for any 20 trading days within the 30-trading day period ending three trading days before
the Company sends the notice of redemption to the warrant holders; and

●if the closing price of our
Common Stock for any 20 trading days within a 30-trading day period