Company: VEEAW
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0001213900-25-118382
Chunk: 45

Company: VEEA INC.
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 45
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, before deducting Placement Agent fees and other estimated offering expenses payable by the Company. The net proceeds to the Company from the Offering, after deducting the Placement Agent’s fees and expenses and estimated offering expenses (excluding proceeds to the Company, if any, from the future exercise of the Common Warrants), were approximately $5.3 million. Lease Arrangements On March 1, 2014, VeeaSystems Inc. (prior to the closing of the business combination by among Private Veea, Plum, and Plum Merger Sub that was consummated on September 13, 2024 (the “ Business Combination”), Veea Inc.) (“ Private Veea”) entered into a sublease agreement with NLabs Inc., an affiliate of Private Veea’s CEO for office space for an initial term of five years. In 2018, Private Veea renewed the sublease for an additional five-year term with all other terms and conditions of the sublease remaining the same. The renewal term expired February 28, 2024 and was subsequently extended to December 31, 2025. Rent for the office space is accrued and not paid in cash. The Company recognized rent expense of $61,200 for each of the three months ended March 31, 2025 and 2024, which was classified as general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive income (loss). Accrued and unpaid rent expense included in the Company’s condensed consolidated balance sheets was $1,836,000 as of June 30, 2025 and $1,713,600 as of December 31, 2024. 31 In April 2017, Private Veea entered into a lease agreement with 83 rdStreet LLC to lease office space for an initial term of two years. The sole member of 83 rdStreet LLC is the Salmasi 2004 Trust. On December 31, 2024, the Salmasi 2004 Trust held approximately 6% of Veea’s outstanding capital stock as of November 3, 2025. Veea’s CEO is the grantor of the Salmasi 2004 Trust. In 2018, Private Veea renewed the lease for an additional five-year term, with all other terms and conditions of the lease remaining the same. The renewal term expired February 28, 2024, and was subsequently extended to December 31, 2025. Rent for the office space is accrued and not