Serve Robotics signs services deal with Magna, issues 2.15M share warrant at $0.01

Serve Robotics Inc. /DE/

Entered a 3-month Master Services Agreement with Magna New Mobility USA, effective Jan 15, 2024.
Initial SOW covers employee services and deliverables; total compensation is capped at an undisclosed amount.
Issued a warrant for 2,145,000 shares at $0.01 per share, vesting in two tranches starting May 15, 2024.
Partnership includes a License Agreement and a Production and Purchase Agreement for robot manufacturing.
Warrant shares are unregistered, sold under Section 4(a)(2) to an accredited investor.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Serve Robotics Inc. /DE/ entered into Master Services Agreement with Magna New Mobility USA, Inc. valued at Term of three months; services under initial SOW (effective 2024-01-15).

Action: entry
Counterparty: Magna New Mobility USA, Inc.
Value: Term of three months; services under initial SOW
Effective: 2024-01-15

Exact text from the filing

On February 1, 2024, Serve Operating Co. (“Serve”), a wholly owned subsidiary of Serve Robotics Inc. (the “Company”), entered into a Master Services Agreement (the “MSA”) with Magna New Mobility USA, Inc. (“Magna”), retroactively effective as of January 15, 2024 (the “Effective Date”).

View on SEC.gov

Browse all material agreements →

Serve Robotics Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001213900-24-011153

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.