Serve Robotics prices $40M public offering and uplists to Nasdaq under ticker SERV

Serve Robotics Inc. /DE/

Pricing of 10M shares at $4.00 per share for gross proceeds of $40M; net proceeds ~$35.7M.
45-day over-allotment option for up to 1.5M additional shares; if exercised, total gross ~$46M.
Postmates LLC, a subsidiary of Uber Technologies Inc., participated in the offering.
Common stock begins trading on Nasdaq Capital Market under ticker SERV on April 18, 2024, moving from OTCQB.
Proceeds to fund R&D of next-generation robots, manufacturing, geographic expansion, and working capital.

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 Underwriting Agreement with Aegis Capital Corp. valued at $4.00 per share (effective 2024-04-17).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: $4.00 per share
Effective: 2024-04-17

Exact text from the filing

On April 17, 2024, Serve Robotics Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (“Aegis”), as the representative of the several underwriters named in Schedule I thereto (collectively, the “Underwriters”), in connection with the public offering of 10,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a public offering price of $4.00 per share (the “Offering”).

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Serve Robotics Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001213900-24-033956

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