Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 262

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 262
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with customary cure periods, and upon an event of default, the Investor may accelerate all obligations under its September 2024 Note
and the Borrowers will be required to pay for the Investor’s reasonable out-of-pocket collection costs.

The outstanding obligations under each
September 2024 Note are convertible in whole or in part into shares of Common Stock (the “Conversion Shares”) at a conversion
price of $7.50 per share (subject to equitable adjustment and the like with respect to the Common Stock after the Financing Closing)
(the “Conversion Price”) at any time after the Financing Closing at the sole election of the Investor. The outstanding obligations
under each September 2024 Note will automatically convert at the Conversion Price if (i) the Company or its subsidiaries consummate one
or more additional financings for equity or equity-linked securities for at least $20 million in the aggregate or makes one or more significant
acquisitions valued in the aggregate (based on the consideration provided by the Company and its subsidiaries) to be at least $20 million,
(ii) the Investors holding a majority of the aggregate outstanding obligations under the September 2024 Notes expressly agree to convert
all obligations under the September 2024 Notes or (iii) the Common Stock trades with an average daily VWAP of at least $10.00 (subject
to equitable adjustment and the like with respect to the Common Stock after the Financing Closing) for ten (10) consecutive trading days.
The obligations under each September 2024 Note will also automatically convert in connection with a Brokerage Transfer, as described
below.

<div align='center'>F-56

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

The September 2024 Notes and the Conversion
Shares are subject to a lock-up for a period of 6 months after the Financing Closing (subject to early release for a liquidation, merger,
share exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange their
equity holdings in the Company for cash, securities or other property, and subject to customary permitted transfer exceptions). The Transferred
Shares are not be subject to any lock-up restrictions, but for a period of 6 months after the Closing they will be separately designated
by SPAC’s transfer agent and kept as book entry shares on the transfer agent’s records and will not be eligible to be