Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 220

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 220
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’s
common stock. The exercise price of the warrants is $.01 per share. The warrants are exercisable for a period of seven years. The
warrants were equity classified and had a fair value of $2,189,014 on the date of grant which is recognized as deferred cost and amortized
to interest expense over the life of the loan agreements.

In December 2021, the
Company issued warrants to purchase 630,000 shares of common stock in connection with the Bridge Notes issued to NLabs. The exercise
price of the warrants is $.01 per share. The warrants are exercisable for a period of seven years. The warrants were equity classified
and had a relative fair value of $499,416 on the date of grant which was recognized as original issue discount on the Bridge Notes in
the year ended December 31, 2021.

In 2022, the Company issued
warrants to purchase 320,000 shares of common stock in connection with the Bridge Notes issued to NLabs. The exercise price of the warrants
is $.01 per share. The warrants are exercisable for a period of seven years. The warrants were equity classified and had a fair
value of approximately $253,816 on the date of grant which was recognized as original issue discount on the Bridge Notes in the year
ended December 31, 2022.

CEO Expenses

The Company incurred expenses
relating to ordinary course travel expenses of the Company’s Chief Executive Officer and founder (“CEO”) for travel
made by the CEO on behalf of the Company. As of December 31, 2023 and 2022, the Company had accrued expenses reimbursable to the
CEO in the aggregate amount of $179,075 and $789,575, respectively. During 2023, the Company paid the CEO $795,000 in reimbursement of
these expenses. The Company records the expenses as accrued expenses in the Company’s consolidated balance sheet. In January 2024,
the Company reimbursed the CEO for his previously incurred travel expenses in an amount equal to $150,000.

<div align='center'>F-29

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

11 - COMMITMENTS AND CONTINGENCIES

Purchase Commitments with Contract Manufacturers and Suppliers

As of December 31,
2023, the Company had no unconditional purchase obligations for the purchase of goods or services from