Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 270

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 270
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 ended December 31, 2024. The fair value of the Earn-out Share Liabilities was estimated using Monte Carlo simulation utilizing
assumptions related to the contractual term of the instruments, estimated volatility, the price of our common stock, and the risk-free
rate. A significant driver of the value of the Earn-out Share Liability at the close of the Business Combination was our closing stock
price on September 13, 2024, which was $.

The following table presents the changes
in fair value of the earnout liabilities:

| Liability at January 1, 2024      |     | Year ended   
 December 31, 
 2024         |           - |   |
|:----------------------------------|:----|:-------------|------------:|:--|
| Initial value, September 13, 2024 |     |              |  53,600,000 |   |
| Change in fair value              |     |              | (38,040,000 | ) |
| Balance as of December 31, 2024   |     | $            |  15,560,000 |   |

The key inputs for the Earn-out Share Liability were as follows at September 13, 2024 initial value, and at December 31, 2024:

|                       |     |   | December 31, 
         2024 |   |     |   | September 13, 
          2024 |   |
|:----------------------|:----|:--|-------------:|:--|:----|:--|--------------:|:--|
| Stock Price           |     | $ |         6.50 |   |     | $ |         12.00 |   |
| Expected term (years) |     |   |           10 |   |     |   |            10 |   |
| Volatility            |     |   |         75.0 | % |     |   |          70.0 | % |
| Risk-Free Rate        |     |   |         3.81 | % |     |   |          3.66 | % |

15 - EARNINGS PER SHARE As described in Note 4 - Reverse Recapitalization, the Company accounted for the Business Combination as a reverse recapitalization. Earnings per share calculations for all periods prior to the Closing have been retrospectively adjusted by the Exchange Ratio for the equivalent number of shares of Common Stock outstanding immediately after the