Reverse Recapitalization (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Reverse Recapitalization [Abstract] |
|
| Schedule of Consolidated Statements of Cash Flows and Consolidated Statement of Changes in Stockholders’ Equity |
The following table reconciles
the elements of the Business Combination to the consolidated statements of cash flows and the consolidated statement of changes in stockholders’
equity (deficit) for the year ended December 31, 2024:
| Cash-trust and cash, net of redemptions | |
$ | 6,448,862 | |
| Less: transaction costs
and professional fees, paid | |
| (5,345,222 | ) |
| Net proceeds from the Business Combination | |
| 1,103,640 | |
| Less: private placement warrant liabilities | |
| (1,041,119 | ) |
| Less: related party notes | |
| (2,205,497 | ) |
| Less: accrued expenses | |
| (3,079,281 | ) |
| Less: deferred payables | |
| (1,749,723 | ) |
| Add: prepaid expenses | |
| 70,382 | |
| Reverse recapitalization,
net | |
$ | (6,901,598 | ) |
|
| Schedule of Common Stock Issued |
The number of shares of common stock issued immediately following the
consummation of the Business Combination were:
| Plum Class A common stock, outstanding
prior to the Business Combination | |
| 3,255,593 | |
| Less: Redemption of
Plum Class A common stock | |
| (2,652,516 | ) |
| Class A common stock of Plum | |
| 603,077 | |
| Plum Class A common
stock, outstanding prior the Business Combination | |
| 6,102,562 | |
| Business Combination shares | |
| 6,705,639 | |
| Veea Shares | |
| 22,133,644 | |
| Issuance of new financing shares | |
| 2,000,000 | |
| Conversion of debt for Common Stock | |
| 3,147,970 | |
| Conversion of Sponsor Notes for Common Stock | |
| 817,453 | |
| Common Stock issued
for services | |
| 857,052 | |
| Common
Stock immediately after the Business Combination | |
| 35,661,757 | |
|
| Schedule of Number of Veea Shares |
The
number of Veea shares was determined as follows:
| | |
Private
Veea
Shares | | |
Veea
Shares after
conversion
ratio | |
| Private Veea Series A-2 Preferred
Stock | |
| 19,670,118 | | |
| 4,799,511 | |
| Private Veea Series A-1 Preferred Stock | |
| 41,179,790 | | |
| 8,078,761 | |
| Private Veea Series A Preferred Stock | |
| 35,920,813 | | |
| 7,047,041 | |
| Private Veea Common Stock | |
| 7,398,303 | | |
| 1,451,419 | |
| Private Veea Common Stock
Warrants | |
| 3,858,202 | | |
| 756,912 | |
| Total | |
| 108,027,226 | | |
| 22,133,644 | |
|
| Schedule of Transaction Expenses Included in Operating Expenses |
The
below table represents the amount of Veea Inc. related transaction expenses included in operating expenses for the year ended December
31, 2024:
| | |
December
31,
2024 | |
| Legal expenses | |
$ | 1,000,000 | |
| Professional fees | |
| 413,544 | |
| Listing fee - NASDAQ | |
| 25,000 | |
| Total | |
$ | 1,438,544 | |
|