Company: VEEAW
Filing Date: 2025-01-02
Form Type: 8-K
Source: 0001213900-25-000386
Chunk: 0

Company: VEEA INC.
Filing Date: 2025-01-02
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01. Entry into a Material Definitive
Agreement.

As
previously disclosed, on September 13, 2024, Veea Inc. (the “ Company”) and VeeaSystems Inc. entered into note purchase
agreements with certain accredited investors for the sale of unsecured subordinated convertible promissory notes. Pursuant to the note
purchase agreement with Harmonic Equity Partners (“ Harmonic”), Harmonic was to purchase a note in an aggregate principal
amount of $13.55 million (the “ Commitment Amount”) on or prior to October 15, 2024, which was subsequently extended
to December 15, 2024. On December 31, 2024, the Company and Harmonic entered into a mutual Settlement and Release Agreement (the “ Settlement
Agreement”), pursuant to which Harmonic made a payment of $5,364,159 to the Company in consideration for the termination of
Harmonic’s obligation to purchase a note in the principal amount of the Commitment Amount and a mutual release of claims.

The foregoing description
of the Settlement Agreement is qualified in its entirety by reference to the full text of the Settlement Agreement, which is attached
as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.