secwatch.observer — SEC 8-K summary
======================================

Issuer:     Serve Robotics Inc. /DE/ (SERV)
CIK:        0001832483
Form:       8-K
Filed at:   2024-08-28T23:59:59+00:00
Accession:  0001213900-24-073390
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Serve Robotics raises $20M in private placement and warrant exercise
--------------------------------------------------------------------

- Sold 555,555 pre-funded warrants and 555,555 common warrants at $9.00 per unit, raising ~$5M.
- Existing warrants for 2.5M shares exercised at $6.00 per share, yielding ~$15M; investor received 2.2M new warrants at $10.
- Common and new warrants expire in 5.5 years; exercise price $10.00 per share.
- Aegis Capital served as placement agent with 6% commission plus $150K expenses.
- Net proceeds intended for general corporate purposes; transaction expected to close August 28, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832483/000121390024073390/0001213900-24-073390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832483/000121390024073390/ea0212636-8k_serve.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-073390

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer