Serve Robotics prices $40M public offering of 10M shares at $4.00; uplists to Nasdaq under ticker SERV

Serve Robotics Inc. /DE/

Gross proceeds of $40M from 10M shares at $4.00; net proceeds ~$35.7M after underwriting discounts and expenses.
Over-allotment option for up to 1.5M additional shares (15%) granted to Aegis Capital Corp.; if exercised, total gross proceeds ~$46M.
Proceeds to fund R&D of next-gen robots, manufacturing, geographic expansion, and working capital.
Postmates LLC (Uber subsidiary) participates in the offering; stock uplists to Nasdaq Capital Market under ticker "SERV" starting April 18, 2024.

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., as the representative of the several underwriters valued at 10,000,000 shares of the Company’s common stock, par value $0.0001 per share, at a public offering p (effective 2024-04-17).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp., as the representative of the several underwriters
Value: 10,000,000 shares of the Company’s common stock, par value $0.0001 per share, at a public offering p
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”).

View on SEC.gov

284 material agreements filed in the last 30 days. Browse all material agreements →

Serve Robotics Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001213900-24-034160

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.