Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 239

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 239
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-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 $53.6 million was recorded as a transaction cost within operating expenses. The fair
value of the Earn-out Share Liability was estimated using a Monte Carlo simulation utilizing assumptions related to the contractual term
of the instruments, estimated volatility, the price of the Common Stock, and current interest rates.

The following table presents the changes
in fair value of the earn-out liability:

|                              |     | Three months 
 ended        
 March 31,    
 2025         |             |   |
|:-----------------------------|:----|:-------------|------------:|:--|
| Balance, beginning of period |     | $            |  15,560,000 |   |
| Change in fair value         |     |              | (10,530,000 | ) |
| Balance, end of period       |     | $            |   5,030,000 |   |

The key inputs for the Earn-out Share
Liability were as follows:

|                       |     |   | March 31, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:----------------------|:----|:--|----------:|:--|:----|:--|-------------:|:--|
| Stock Price           |     | $ |      1.49 |   |     | $ |          6.5 |   |
| Expected term (years) |     |   |       9.5 |   |     |   |           10 |   |
| Volatility            |     |   |        75 | % |     |   |         75.0 | % |
| Risk-Free Rate        |     |   |       4.2 | % |     |   |         3.81 | % |

<div align='center'>F-21</div>

15 - EARNINGS PER SHARE

The computation of basic and dilutive
net loss per share attributable to common stockholders for the three months ended March 31, 2025 and 2024, are as follows:

| Basic:                                                                                                            
 Numerator:                                                                                                        |     | Three Months ended 
 March 31,          
 2025               |            |