EX-10.7 2 ea028477101ex10-7.htm AMENDMENT NO. 1 TO COMMON STOCK PURCHASE AGREEMENT, DATED JUNE 2, 2025, BY AND BETWEEN WHITE LION CAPITAL, LLC AND THE COMPANY

Exhibit 10.7 

 

AMENDMENT NO. 1

TO

COMMON STOCK PURCHASE AGREEMENT

BETWEEN

VEEA INC.

AND

WHITE LION CAPITAL, LLC,

 

THIS AMENDMENT NO. 1 TO COMMON STOCK PURCHASE AGREEMENT (this “Amendment”), effective as of June 2, 2025 (the “Amendment Effective Date”), is by and between Veea Inc., a Delaware corporation (the “Company”), and White Lion Capital, LLC, a Nevada limited liability company (the “Investor”), and amends the Common Stock Purchase Agreement, dated December 2, 2024, by and between the Company and the Investor (the “Agreement). All capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Agreement.

 

NOW, THEREFORE, in consideration of the premises, the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Amendments to Article VI.

 

Section 6.4 of Article VI of the Agreement is hereby amended and restated in its entirety as follows as of the Amendment Effective Date:

 

Section 6.4 COMMITMENT SHARES. In consideration for the Investor’s execution and delivery of, and agreement to perform under this Agreement, the Company shall cause the Transfer Agent to issue an amount of Common Stock equal to $25,000 divided by the average VWAP of the Common Stock 10 days prior to the Commitment Shares Determination Date to the Investor as a commitment fee. If the Company fails to sell to Investor $1,250,000 in gross proceeds by December 15, 2025, the Company shall cause the Transfer Agent to issue an additional amount of Common Stock equal to $50,000 divided by the average VWAP of the Common Stock 10 days prior to December 15, 2025 (together the “Commitment Shares”). For the avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Execution Date, and the issuance of the Commitment Shares is not contingent upon any other event or condition, except conditions listed in Section 6.4, including, without limitation, the Company’s submission of a Purchase Notice to the Investor or the filing of a Registration Statement, and irrespective of any termination of this Agreement. The Company shall include on the Registration Statement filed with the SEC, all Commitment Shares, provided that, in addition to all other remedies at law or in equity or otherwise under this Agreement, failure to timely do so will result in liquidated damages of $75,000, being immediately due and payable to the Investor at its election in the form of cash payment.

 

2. Representations and Warranties. Each of the Investor and the Company represents and warrants that it has the authority and legal right to execute, deliver and carry out the terms of this Amendment, that such actions were duly authorized by all necessary entity action and that the officers executing this Amendment on its behalf were similarly authorized and empowered and that this Amendment does not contravene any provisions of its articles of incorporation, bylaws, certificate of formation, limited liability company agreement or other formation documents, as applicable, or of any contract or agreement to which it is a party or by which any of its properties are bound.

 

3. Miscellaneous.

 

(a) Except as modified by this Amendment, the Agreement continues in full force and effect in accordance with its terms.

 

(b) This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware as set forth in Section 10.1 of the Agreement and the dispute resolution provisions set forth in Section 10.16 of the Agreement.

 

(c) This Amendment may be executed in any number of counterparts and by electronic transmission (which shall bind the parties hereto), each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

** signature page follows **

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officer as of the Amendment Effective Date.

 

  VEEA INC.
     
  By: /s/ Janice Smith
  Name: Janice Smith
  Title: Chief Operating Officer
     
  WHITE LION CAPITAL, LLC
   
  By: /s/ Nathan Yee
  Name: Nathan Yee
  Title: Managing Director