Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 167

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 167
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 18, 2023 or the date on which Plum
consummates a Business Combination. If Plum did not complete a Business Combination, the Dinsdale Note would not be repaid and all amounts
owed under it would be forgiven. Upon the consummation of a Business Combination, the Mr. Dinsdale had the option, but not the obligation,
to convert the principal balance of the Dinsdale Note, in whole or in part, into the SPAC Private Placement Warrants, at a price of $1.50
per warrant. The Dinsdale Note was subject to customary events of default, the occurrence of which automatically trigger the unpaid principal
balance of the Dinsdale Note and all other sums payable with regard to the Dinsdale Note becoming immediately due and payable. The Dinsdale
Note was issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. On
September 11, 2024 the Dinsdale Note was amended to provide that upon consummation of the Business Combination, the outstanding principal
balance would convert into shares of common stock of the Company in an amount of shares equal to the outstanding principal balance divided
by $5.00 per share.

On July 11, 2022, Plum issued
an unsecured promissory note (the “Burns Note”) in the principal amount of $500,000 to Ursula Burns. The Burns
Note did not bear interest and was repayable in full upon consummation of Plum’s initial business combination. Up to fifty percent
(50%) of the principal of the Burns Note could be drawn down from time to time at Plum’s option prior to August 25, 2022 and any
or all of the remaining undrawn principal of the Burns Note could be drawn down from time to time at the Company’s option after
August 25, 2022, in each case in increments of not less than $50,000. If Plum did not complete a Business Combination, the Burns Note
would not be repaid and all amounts owed under it would be forgiven. Upon the consummation of a Business Combination, Ms. Burns had the
option, but not the obligation, to convert the principal balance of the Burns Note, in whole or in part, into SPAC Private Placement
Warrants, at a price of $1.50 per warrant. The Burns Note was subject to customary events of default,