Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 273

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 273
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 |   |     |   | September 13, 
          2024 |   |
|:----------------------|:----|:--|--------------:|:--|:----|:--|--------------:|:--|
| Stock Price           |     | $ |          6.50 |   |     | $ |         12.00 |   |
| Expected term (years) |     |   |          1.45 |   |     |   |           1.5 |   |
| Volatility            |     |   |          75.0 | % |     |   |          70.0 | % |
| Risk-Free Rate        |     |   |          3.82 | % |     |   |          3.79 | % |
| Interest rate         |     |   |          6.96 | % |     |   |          7.33 | % |

<div align='center'>F-63

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

|                                   |     | Three and nine months ended 
 September 30, 2024          |          |   |
|:----------------------------------|:----|:----------------------------|---------:|:--|
| Balance, beginning of period      |     | $                           |        - |   |
| Initial value, September 13, 2024 |     |                             |  900,933 |   |
| Change in fair value              |     |                             | (607,067 | ) |
| Balance, end of period            |     | $                           |  293,866 |   |

Earn-out Share Liability

Following the closing of the Business Combination,
holders of certain capital stock of Legacy Veea immediately prior to the closing will have the contingent right to receive up to million
additional shares of the Company’s Common Stock if certain trading-price based milestones of the Company’s common stock are
achieved or a change of control transaction occurs during the ten-year period following the Closing. The Company’s obligation to
issue the earn out shares is recorded as a contingent liability (the “Earn-Out Share Liability”) in the Company’s financial
statements. The initial value of the contingent earn-out share liability of $ million is recorded as a transaction cost within operating
expenses for the three and nine months ended September 30