Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1076

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1076
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On December 2, 2024, the Company entered into a common stock purchase
agreement (“Common Stock Purchase Agreement”) and related registration rights agreement (the “White Lion Registration
Rights Agreement”) with White Lion Capital, LLC (“White  Lion”). Pursuant to the Common Stock Purchase Agreement,
the Company had the right, but not the obligation, to direct White Lion to purchase up to 25,000,000 shares of our common stock, subject
to certain limitations and conditions as described below (the "ELOC Program") at a purchase price equal to (i) 96.5% of the
volume weighted average stock price for the three consecutive business days after a purchase notice is given, (ii) 98% of the volume weighted
average stock price on the day a notice is delivered, or (iii) the lowest traded price for a given purchase date.

The
Company controls the timing and amount of any sales to White Lion, which depend on a variety of factors including, among other things,
market conditions, the trading price of the Company’s common stock, and determinations by the Company as to appropriate sources
of funding for its business and operations. However, White Lion’s obligation to purchase shares is subject to certain conditions,
including the daily trading volume of the Company’s stock. In all instances, the Company may not sell shares of its common stock
under the Purchase Agreement if it would result in White Lion and its affiliate beneficially owning more than 4.99% of its outstanding
voting power or shares of common stock at any one point in time, or the aggregate number of shares of common stock would not exceed 19.99%
of the voting power of the issued and outstanding common stock.

F-25

Veea
Inc. and Subsidiaries
Notes to the Consolidated Financial Statements 
For the Years ended December 31, 2024 and 2023

10
- STOCK INCENTIVE PLANS

In September 2014, the Private Veea’s Board of Directors adopted
the Max2 Inc. Equity Incentive Plan (“2014 Plan”). Upon adoption of the 2014 Plan, the aggregate number of shares of common
stock reserved for awards under the Plan were 1,250,000. In September 2018, Private Veea’s Board of Directors adopted the Veea Inc.
2018 Equity Incentive Plan (“2018 Plan” and collectively with the 2014 Plan, the “Private V