---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-000500"
form_type: "8-K"
ticker: "SERV"
cik: "0001832483"
company_name: "Serve Robotics Inc. /DE/"
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T04:48:15.829913+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Serve Robotics raises $3M in convertible note initial close; CEO also provides $200k bridge loan

## Summary
- On Dec 27, 2023, CEO Ali Kashani lent $200k via a secured subordinated note at 7.67% interest; repaid upon note issuance.
- Board approved up to $6.5M of convertible notes; initial closing on Jan 2, 2024 raised $3M from accredited investors.
- Notes bear 6.00% interest compounded annually, due on request 12 months after issuance; no prepayment without consent.
- Notes convert at 75% of qualified financing price or $80M cap; change of control triggers cash repayment at 2x principal or conversion.
- Proceeds to be used for working capital and general corporate purposes; notes issued under Rule 506(b).

## SEC filing metadata
- accession: 0001213900-24-000500
- form_type: 8-K
- ticker: SERV
- cik: 0001832483
- company_name: Serve Robotics Inc. /DE/
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832483/000121390024000500/0001213900-24-000500-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832483/000121390024000500/ea190928-8k_serverobo.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-000500
- JSON: https://secwatch.observer/filing/0001213900-24-000500.json
- Plain text: https://secwatch.observer/filing/0001213900-24-000500.txt

## Key facts
- Debt Financings
  Serve Robotics Inc. /DE/ incurred convertible notes of $3,000,000 with certain accredited investors at 6.00% per year maturing due and payable upon request by each Purchaser on or after the 12-month anniversary of the original issuance date of each Note.
  - Instrument: convertible notes
  - Principal: $3,000,000
  - Counterparty: certain accredited investors
  - Rate: 6.00% per year
  - Maturity: due and payable upon request by each Purchaser on or after the 12-month anniversary of the original issuance date of each Note
  - Event: incurrence
  source text: At an initial closing on January 2, 2024, the Company borrowed an aggregate principal amount of $3,000,000 by issuing Notes to certain accredited investors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832483/000121390024000500/0001213900-24-000500-index.htm
- Debt Financings
  Serve Robotics Inc. /DE/ incurred loan of up to $200,000 with Ali Kashani at 7.67% per annum.
  - Instrument: loan
  - Principal: up to $200,000
  - Counterparty: Ali Kashani
  - Rate: 7.67% per annum
  - Event: incurrence
  source text: On December 27, 2023, Serve Operating Co., a wholly-owned subsidiary of Serve Robotics Inc., a Delaware corporation (the “Company”), issued a Secured Subordinated Promissory Note (the “Kashani Note”) to Ali Kashani, a holder of greater than 5% of the Company’s capital stock who serves as Chief Executive Officer and is a member of the Company’s Board of Directors (the “Board”), in exchange for a loan with the aggregate principal amount of up to $200,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832483/000121390024000500/0001213900-24-000500-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.