Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 2291

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 10
Chunk 2291
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for which the Company is not able to exercise significant influence over any one individual investee, are measured and accounted for
using an alternative measurement basis of a) the security’s carrying value at cost, b) less any impairment and c) plus or minus
any qualifying observable price changes. Observable price changes or impairments recognized on the Company’s private company investments
would be classified as a Level 3 financial instrument within the fair value hierarchy based on the nature of the fair value inputs. Any
adjustments to the carrying values are recognized in other income, net in the Company’s consolidated statements of operations and
comprehensive loss. As of December 31, 2024, the Company performed the qualitative assessment for impairment of its investments. Based
on this qualitative assessment, impairment indicators were present for one of its investments; therefore, the Company performed an analysis
to estimate its current fair value and subsequently recognized an impairment loss of $216,278, as it was determined that the investment
was fully impaired. As of December 31, 2024 and 2023, the carrying value of the Company’s private company investments, including
impairment, was $235,596 and $451,874, respectively, and were included in investments on the Company’s consolidated balance sheet
as these investments did not have a stated contractual maturity date.

F-24

Veea
Inc. and Subsidiaries
Notes to the Consolidated Financial Statements 
For the Years ended December 31, 2024 and 2023

9
– STOCKHOLDERS’ EQUITY

On September 13, 2024, the Company
consummated the Business Combination which was accounted for as a reverse recapitalization. See Note 4 – Reverse Recapitalization
for more information. In connection with the consummation of the Business Combination (i) the Company de-registered from the Register
of Companies in the Cayman Islands by way of continuation out of the Cayman Islands and into the State of Delaware, migrating to and domesticating
as a Delaware corporation (the “Domestication”) and (ii) restated our certificate of incorporation (“Restated Certificate
of Incorporation”). In connection with the Domestication, each share of outstanding Class A ordinary shares were converted by operation
of law into shares of common stock, on a one-for-one basis. Upon filing of the Restated Certificate of Incorporation, each issued and
outstanding share of Class B stock outstanding immediately prior to the