Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 298

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 298
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 as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. The Company’s Class A ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s consolidated balance sheets.

| Ordinary                                                 
 shares subject to possible redemption, December 31, 2021 |     | $ |  319,216,340 |   |
| Plus:                                                    |     |   |              |   |
| Accretion                                                
 adjustment of carrying value to redemption value         |     |   |    4,695,302 |   |
| Ordinary                                                 
 shares subject to possible redemption, December 31, 2022 |     | $ |  323,911,642 |   |
| Less:                                                    |     |   |              |   |
| Redemptions of ordinary shares                           |     |   | (294,254,572 | ) |
| Plus:                                                    |     |   |              |   |
| Accretion                                                
 adjustment of carrying value to redemption value         |     |   |    5,898,906 |   |
| Ordinary                                                 
 shares subject to possible redemption, December 31, 2023 |     | $ |   35,555,976 |   |

<div align='center'>F-92</div>

Offering Costs

The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A - “Expenses of Offering”. Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the Public Offering. Offering costs are charged to shareholders’ deficit or the consolidated statements of operations based on the relative value of the Warrants to the proceeds received from the Units sold upon the completion of the IPO.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, (excluding the promissory note and Warrants) which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the consolidated balance sheets.

Warrant Liabilities

The Company accounts for the Warrants as either equity-classified or liability-classified instruments based on an assessment of the specific terms of the Warrants and applicable authoritative guidance