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

Serve Robotics Inc. /DE/

Closed underwritten public offering of 10,000,000 shares at $4.00/share, raising $40M gross proceeds.
Aegis Capital has 45-day option for up to 1,500,000 additional shares (15% over-allotment).
Proceeds to fund R&D, manufacturing, geographic expansion, and working capital.
Common stock now listed on Nasdaq Capital Market (SERV); previously traded on OTCQB (SBOT).
Issued Representative’s Warrant for 500,000 shares at $5.00 and Placement Agent’s Warrant for 63,479 shares at $2.42.

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 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.
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 (the “Effective Date”), Serve Robotics Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (“Aegis”) 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

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

Serve Robotics Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0001213900-24-035088

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