Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 50

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 agreed to work together in the development of the marketing
strategy, branding and promotion of VeeaSystems’s services to Telcel’s customers in Mexico. The agreement provides for an
initial term of three years and automatically renews for successive one-year terms, unless either party elects not to renew upon 90-day
prior notice.

Appointment of Acting Chief Financial Officer

On July 15, 2025, Randal V. Stephenson was appointed
as the Company’s Acting Chief Financial Officer.

Appointment of Acting Chief Revenue Officer

On July 15, 2025, Mr. Helder Antunes a current
member of the Company’s Board of Directors was appointed acting Chief Revenue Officer.

Asset Purchase Transaction with Crowdkeep,
Inc.

Asset Purchase Agreement 

On May 13, 2025, the Company
entered into an Asset Purchase Agreement (the “APA”) with Crowdkeep, Inc., a Delaware corporation (the “Seller”),
pursuant to which, subject to the terms and conditions set forth in the APA, the Company acquired, upon the closing (the “Crowdkeep
Closing”, and the date of such Crowdkeep Closing, the “Crowdkeep Closing Date”) certain assets of Seller relating to
Seller’s IoT technology platform business (collectively, the “Crowdkeep Assets”), free and clear of any liens other
than certain specified liabilities of Seller that are being assumed (collectively, the “Crowdkeep Liabilities” and such acquisition
of the Crowdkeep Assets and assumption of the Crowdkeep Liabilities together, the “Crowdkeep Transaction”) in consideration
for the issuance to the Seller of 4,065,689 shares of Common Stock (the “Purchase Price”).

The APA contains other customary
representations, warranties and covenants of the parties. The foregoing summary of the APA is not complete and is qualified in its entirety
by reference to the full text of the APA, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

26

Note Purchase Agreements and Convertible Promissory
Notes

On April 17, 2025, and May
13, 2025, the Company and the majority stockholder of the Seller (“Crowdkeep Investor”), entered into two Note Purchase Agreements
(the “Crowdkeep Note Purchase Agreements”). Pursuant to the Crowdkeep Note Purchase Agreements, the Crowdkeep Investor loaned
to the Company an aggregate of $1,000,