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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13G
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UNDER THE SECURITIES EXCHANGE ACT OF 1934
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VEEA INC. (Name of Issuer) |
Common Stock, par value $0.0001 per share (Title of Class of Securities) |
693489122 (CUSIP Number) |
12/18/2024 (Date of Event Which Requires Filing of this Statement) |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |
 Rule 13d-1(b)
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 Rule 13d-1(c)
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| Rule 13d-1(d)
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SCHEDULE 13G
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| CUSIP No. | 693489122 |
| 1 | Names of Reporting Persons
BURNS URSULA M | ||||||||
| 2 | Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
FLORIDA
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person
2,071,207.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
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| 11 | Percent of class represented by amount in row (9)
5.6 % | ||||||||
| 12 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13G
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| Item 1. | ||
| (a) | Name of issuer:
VEEA INC. | |
| (b) | Address of issuer's principal executive offices:
164 East 83rd Street, New York, NY 10028 | |
| Item 2. | ||
| (a) | Name of person filing:
Ursula M. Burns | |
| (b) | Address or principal business office or, if none, residence:
210 SE Mizner Boulevard, Unit 210, Boca Raton, Florida 33432 | |
| (c) | Citizenship:
United States | |
| (d) | Title of class of securities:
Common Stock, par value $0.0001 per share | |
| (e) | CUSIP No.:
693489122 | |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |
| (a) | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution: | |
| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| Item 4. | Ownership | |
| (a) | Amount beneficially owned:
Amount beneficially owned: 2,071,207 shares of Common Stock, par value $0.0001 per share ("Common Stock") The Reporting Person holds the above-referenced beneficially-owned shares of Common Stock as follows: (i) 976,523 shares of outstanding Common Stock, (ii) (A) 60,663 shares of outstanding Common Stock subject to vesting based upon the volume-weighted average trading sale price of one share of Common Stock (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) being greater than or equal to $12.50 for any twenty (20) trading days within any thirty (30) consecutive trading day period ending on September 13, 2034, or earlier upon a change in control of the Issuer, and (B) 60,663 shares of outstanding Common Stock subject to vesting based upon the volume-weighted average trading sale price of one share of Common Stock (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) being greater than or equal to $15.00 for any twenty (20) trading days within any thirty (30) consecutive trading day period ending on September 13, 2034, or earlier upon a change in control of the Issuer (collectively, the "Earnout Shares"), and (iii) Warrants to purchase 973,358 shares of Common Stock (the "Warrants"). Each Warrant entitles the holder to purchase one share of the Common Stock at a price of $11.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations). Such Warrants will expire September 13, 2029, or earlier upon redemption or liquidation. The Reporting Person is subject to a lock-up agreement, pursuant to which, among other things, the Reporting Person has agreed not to sell, prior to March 13, 2025 (or earlier under certain circumstances), the Common Stock held by the Reporting Person, subject to the terms, conditions and limitations set forth in such lock-up agreement. | |
| (b) | Percent of class:
Percent of class: 5.6% The information with respect to percentage ownership is based on a total of 36,202,798 outstanding shares of Common Stock of Veea Inc., as reported in the Issuer's final prospectus filed with the Securities and Exchange Commission on January 15, 2025 (Securities Act Registration No. 333-283666). | |
| (c) | Number of shares as to which the person has:
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| (i) Sole power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows 5-11 of the cover page hereto for the Reporting Person and is incorporated herein by reference for such Reporting Person. | ||
| (ii) Shared power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows 5-11 of the cover page hereto for the Reporting Person and is incorporated herein by reference for such Reporting Person. | ||
| (iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c) is set forth in Rows 5-11 of the cover page hereto for the Reporting Person and is incorporated herein by reference for such Reporting Person. | ||
| (iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c) is set forth in Rows 5-11 of the cover page hereto for the Reporting Person and is incorporated herein by reference for such Reporting Person. | ||
| Item 5. | Ownership of 5 Percent or Less of a Class. | |
| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. | |
Not Applicable
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. | |
Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
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| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
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| Item 10. | Certifications: |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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