Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 238

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 238
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eea Inc., a Delaware corporation (“Legacy Veea”) consummated its previously
announced Business Combination, pursuant to that certain Business Combination Agreement,
dated November 27, 2023 (as amended on June 13, 2024 and September 13, 2024, the “Business
Combination Agreement”), between Plum, Legacy Veea, and Plum Merger Sub, a Delaware
corporation) (“Plum Merger Sub”). In connection with the consummation of the
Business Combination (the “Closing”) (i) Plum 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) the merger (the “Merger”) of Plum Merger Sub with and into Legacy Veea
was completed and the separate corporate existence of Plum Merger Sub ceased, with Legacy
Veea as the surviving corporation becoming a wholly owned subsidiary of Plum. Following the
Closing Plum changed its name from “Plum Acquisition Corp. I” to “Veea
Inc.” (hereinafter “Veea” or “the Company” and Legacy Veea
changed its name from “Veea Inc.” to “VeeaSystems Inc.” See Note 4 “Recapitalization” for more information.

The
Company has five wholly owned subsidiaries, VeeaSystems Inc., formerly known as Veea Inc.
(“VeeaSystems US”) a Delaware corporation, Veea Solutions Inc., a Delaware corporation
VeeaSystems Development Inc., formerly known as Veea Systems Inc., a Delaware corporation,
Veea Systems Ltd., a company organized under the laws of England and Wales and VeeaSystems
SAS, a French simplified joint stock company. The Company is headquartered in New York City
with offices in the United States (“U.S.”) and Europe.

2 - LIQUIDITY AND MANAGEMENT’S PLAN

During the nine months ended September
30, 2024 and 2023, the Company has incurred net losses of $46.6 million and $9.4 million, respectively, and had an accumulated deficit
of $216.9 million as of September 30, 2024. The Company expects to continue to incur net losses as it continues to grow and scale its
business. Historically, the Company’s activities have been financed through private placements of equity securities and debt to