Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 75

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 75
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, including, among other things, providing only two years of audited financial statements.
Veea will remain a smaller reporting company until the last day of the fiscal year in which (i) the market value of the Common Stock
held by non-affiliates exceeds $250 million as of the prior June 30, or (ii) its annual revenues exceeded $100 million during such completed
fiscal year and the market value of the Common Stock held by non-affiliates exceeds $700 million as of the prior June 30. To the extent
Veea takes advantage of such reduced disclosure obligations, it may also make comparison of its financial statements with other public
companies difficult or impossible.

A
significant portion of Veea’s total outstanding shares are restricted from immediate resale but may be sold into the market in
the near future. This could cause the market price of the Common Stock to drop significantly, even if Veea’s business is doing
well.

Sales
of a substantial number of shares of Veea’s Common Stock in the public market could occur at any time. These sales, or the perception
in the market that the holders of a large number of shares intend to sell shares, could reduce the market price of the Common Stock.

Although
the Plum Sponsor and certain of Veea’s stockholders are subject to certain restrictions regarding the transfer of the Common Stock,
these shares may be sold after the expiration or early termination of the respective applicable lock-ups under the Lock-Up Agreements.
Upon the effectiveness of this registration statement and as restrictions on resale end, the market price of the Common Stock could decline
if the holders of currently restricted shares sell them or are perceived by the market as intending to sell them.

Veea’s
directors, executive officers and principal stockholders have substantial control over Veea, which could limit Veea’s ability to
influence the outcome of key transactions, including a change of control.

As of March 14, 2025, Veea’s
executive officers, directors and principal stockholders and their affiliates own 23,053,759 shares of Veea’s Common Stock, or approximately
38.75% of the outstanding shares of the Common Stock. As a result, these stockholders will be able to exercise a significant  level
of control over all matters requiring stockholder approval, including the election of directors and the approval of mergers, acquisitions
or other extraordinary transactions. They may also have interests that differ from yours and may vote in a way with which you