Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 186

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 186
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 Company’s Series A-2 Preferred Stock) will have the contingent right to receive up to million
additional shares of Combined Company common stock if certain trading-price based milestones of the Combined Company’s common stock
are achieved during the ten-year period following the Closing, as set forth in the Business Combination Agreement. Proceeds from the proposed
Business Combination and financing transactions are expected to support the Combined Company in its business plans.

Current equity holders of the Company are expected
to own a majority of the outstanding capital stock of the Combined Company immediately after the Closing and the Company will appoint
a majority of the members of the board of directors of the Combined Company in accordance with the terms of the Business Combination Agreement.
The parties expect the Business Combination to be consummated during the first half of 2024, following satisfaction of certain closing
conditions set forth in the Business Combination Agreement, including, without limitation, approval by shareholders of Plum and stockholders
of the Company, the effectiveness of a registration statement to be filed by Plum with the Securities and Exchange Commission in connection
with the transaction, the expiration of any HSR Act waiting period and other customary closing conditions.

<div align='center'>F-9

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

2 - LIQUIDITY AND MANAGEMENT’S PLAN

During the years ended
December 31, 2023 and 2022, the Company has incurred net losses of $ and $, respectively, and had an accumulated
deficit of $ as of December 31, 2023. 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 related parties. In October 2023, the Company commenced a private placement for the sale of its newly designated Series A-2
Preferred Stock, par value $ per share (the “Series A-2 Preferred Stock”). As of December 31, 2023, the Company has
(1) issued shares of Series A-2 Preferred Stock in consideration for approximately $ million in cash and the conversion
of debt and other outstanding obligations totaling approximately $ million and (2) received additional subscriptions totaling approximately
$ million for which shares Series A-2 Preferred Stock have not yet been issued as of such date. The Company anticipates raising a minimum
of an additional $