Reverse Recapitalization (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Reverse Recapitalization [Abstract] |
|
| Schedule of Consolidated Statements of Cash Flows and Consolidated Statement of Changes in Stockholders’ Equity |
he
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 | |
|