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Serve Robotics Inc

Serve Robotics Inc (SERV)

7.48
-0.37
(-4.71%)
Closed September 20 4:00PM
7.51
0.03
( 0.40% )
Pre Market: 8:22AM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
7.51
Bid
7.52
Ask
7.54
Volume
48,257
0.00 Day's Range 0.00
1.77 52 Week Range 24.09
Market Cap
Previous Close
7.48
Open
-
Last Trade
1
@
7.54
Last Trade Time
08:26:43
Financial Volume
-
VWAP
-
Average Volume (3m)
19,587,437
Shares Outstanding
39,599,706
Dividend Yield
-
PE Ratio
-11.94
Earnings Per Share (EPS)
-0.63
Revenue
208k
Net Profit
-24.81M

About Serve Robotics Inc

Serve is shaping the future of sustainable, self-driving delivery. The Company designs, develops and operates low-emissions robots that serve people in public spaces, starting with food delivery. Founded in 2017 as the robotics division of Postmates, Serve set out to build a robotic delivery experie... Serve is shaping the future of sustainable, self-driving delivery. The Company designs, develops and operates low-emissions robots that serve people in public spaces, starting with food delivery. Founded in 2017 as the robotics division of Postmates, Serve set out to build a robotic delivery experience that delights customers, improves reliability for merchants, and reduces vehicle emissions to zero. Six years later, the company's self-driving robots have successfully completed tens of thousands of contactless deliveries in Los Angeles and San Francisco. Spun off from Postmates as an independent company in February 2021, Serve counts Uber, NVIDIA, 7-Eleven and Delivery Hero's corporate venture units among its investors. Serve has several established commercial partnerships and continues to expand its partner platform. Show more

Sector
Blank Checks
Industry
Misc Transportation Equip
Headquarters
Wilmington, Delaware, USA
Founded
2020
Serve Robotics Inc is listed in the Blank Checks sector of the NASDAQ with ticker SERV. The last closing price for Serve Robotics was $7.48. Over the last year, Serve Robotics shares have traded in a share price range of $ 1.77 to $ 24.09.

Serve Robotics currently has 39,599,706 shares outstanding. The market capitalization of Serve Robotics is $296.21 million. Serve Robotics has a price to earnings ratio (PE ratio) of -11.94.

SERV Latest News

Serve Robotics to Present at H.C. Wainwright's Annual Global Investment Conference

Serve Robotics to Present at H.C. Wainwright's Annual Global Investment Conference PR Newswire SAN FRANCISCO, Sept. 4, 2024 SAN FRANCISCO, Sept. 4, 2024 /PRNewswire/ -- Serve Robotics (Nasdaq:...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-1.19-13.67816091958.78.726.942833207.58146413CS
4-2.64-26.009852216710.1510.346.3544508197.98768285CS
125.53279.2929292931.9824.091.821958743711.20899588CS
264113.960113963.5124.091.77939475911.00143296CS
524113.960113963.5124.091.77467851511.00143296CS
1564113.960113963.5124.091.77154502711.00143296CS
2604113.960113963.5124.091.77116962911.00143296CS

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SERV Discussion

View Posts
Monksdream Monksdream 2 days ago


Robotics Stock #1: Serve Robotics

California-based Serve Robotics Inc. (SERV) is revolutionizing delivery with its advanced, artificial intelligence (AI)-driven, low-emissions sidewalk robots designed for sustainability and cost-efficiency. Emerging as an independent company from Uber (UBER) in 2021, Serve has already executed tens of thousands of deliveries for major partners like Uber Eats and 7-Eleven.

Moreover, the company is scaling up with multi-year contracts, including a notable deal to deploy up to 2,000 delivery robots on the Uber Eats platform across various U.S. markets.

Valued at a market cap of $316.7 million, SERV came under the spotlight in July, when AI king Nvidia (NVDA) disclosed a 10% stake. The stock has rallied a stellar 301.7% over the past three months, far outpacing the broader S&P 500 Index’s ($SPX) 4.2% return during the same time frame.


www.barchart.com
Following the company’s impressive Q2 earnings results, shares of Serve closed up more than 9% on Aug 14. During the quarter, the company boosted its top line by a whopping 655% year over year to approximately $468,400, driven by strong performance in its software and delivery segments.

SERV is unprofitable, but trimmed its quarterly loss to $0.27 per share from its year-ago loss per share of $0.74. In Q2, Serve ramped up its daily supply hours to 385, reflecting a remarkable 106% increase from the previous year and a 28% sequential boost.

The company also achieved an 85% year-over-year surge in daily active robots and a 23% quarter-over-quarter rise, underscoring its impressive operational growth. As of June 30, SERV had a solid $28.8 million in cash and cash equivalents, providing a strong financial safety net.

In its Q2 earnings release, management highlighted plans to deploy at least 250 additional robots in Los Angeles by Q1 of fiscal 2025, and aims to fully deploy 2,000 robots under its Uber Eats agreement by the end of fiscal 2025, potentially generating $60 million to $80 million in annual run-rate revenue.

SERV stock has only one analyst in coverage on Wall Street, with a rating of β€œStrong Buy.” The firm’s price target of $16 indicates a massive potential upside of 115.6% from the current price levels.
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glenn1919 glenn1919 2 weeks ago
SERV.........................https://stockcharts.com/h-sc/ui?s=SERV&p=W&b=5&g=0&id=p86431144783
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abrooklyn abrooklyn 2 weeks ago
Form 424B3 - Prospectus [Rule 424(b)(3)]

Source: Edgar (US Regulatory)

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-281956

PROSPECTUS



3,311,110 Shares of Common Stock

This prospectus relates to the registration and resale by the selling stockholder named under the heading β€œSelling Stockholder” in this prospectus (which term as used in this prospectus includes its respective transferees, pledgees, distributees, donees and successors-in-interest, each a β€œselling stockholder” and, collectively, the β€œselling stockholders”) of up to 3,311,110 shares (the β€œShares”) of common stock, par value $0.0001 per share, of Serve Robotics Inc. (the β€œCompany”), which includes: (i) 555,555 shares of our common stock issuable upon exercise of the pre-funded warrants (the β€œPre-Funded Warrants”) issued to Armistice Capital Master Fund Ltd. (β€œArmistice”) in connection with a private placement of warrants and pre-funded warrants, as more fully described herein (the β€œAugust 2024 PIPE”), (ii) 555,555 shares of our common stock issuable upon exercise of the warrants (the β€œCommon Warrants”) issued to Armistice in connection with the August 2024 PIPE and (iii) 2,200,000 shares of our common stock issuable upon exercise of the warrants (the β€œExchange Warrants,” and together with the Pre-Funded Warrants and the Common Warrants, the β€œAugust 2024 PIPE Warrants”) issued to Armistice pursuant to an agreement with the Company in connection with the August 2024 PIPE to exercise the July 2024 PIPE Common Warrants (as defined herein).

We will not receive any proceeds from the sale of the shares of common stock by the selling stockholder. However, we will receive the proceeds of any cash exercise of the August 2024 PIPE Warrants. The selling stockholder may sell the shares of common stock offered by this prospectus from time to time through the means described in this prospectus under the caption β€œPlan of Distribution.”

We will bear all costs, expenses and fees in connection with the registration of the shares of common stock. The selling stockholder will bear all discounts, concessions, commissions and similar selling expenses, if any, attributable to their respective sales of the shares of common stock.

Our common stock is currently traded on The Nasdaq Capital Market, LLC (β€œNasdaq”) under the ticker symbol β€œSERV”. On September 4, 2024, the last reported sale price of our common stock on Nasdaq was $8.15 per share.

We may amend or supplement this prospectus from time to time by filing amendments or supplements as required. You should read the entire prospectus and any amendments or supplements carefully before you make your investment decision.

We are an β€œemerging growth company” and a β€œsmaller reporting company” as defined under the federal securities laws and, as such, are eligible for reduced public company reporting requirements. See β€œProspectus Summary β€” Implications of Being an Emerging Growth Company and a Smaller Reporting Company.”

Investing in our common stock involves a high degree of risk. Please consider carefully the risks described in this prospectus under β€œRisk Factors” beginning on page 5 of this prospectus and in our filings with the Securities and Exchange Commission.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

This prospectus is dated September 11, 2024




TABLE OF CONTENTS

Page No.
ABOUT THIS PROSPECTUS ii

PROSPECTUS SUMMARY 1

THE OFFERING 4

RISK FACTORS 5

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 6

USE OF PROCEEDS 7

SELLING STOCKHOLDER 8

PLAN OF DISTRIBUTION 9

LEGAL MATTERS 10

WHERE YOU CAN FIND MORE INFORMATION 10

EXPERTS 10

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE 11

i


ABOUT THIS PROSPECTUS

This prospectus is part of a registration statement on Form S-3 that we have filed with the Securities and Exchange Commission (the β€œSEC”) pursuant to which the selling stockholder named herein may, from time to time, offer and sell or otherwise dispose of the Shares covered by this prospectus. You should not assume that the information contained in this prospectus is accurate on any date subsequent to the date set forth on the front cover of this prospectus or that any information we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference, even though this prospectus is delivered or Shares are sold or otherwise disposed of on a later date.

This prospectus does not contain all of the information included in the registration statement. For a more complete understanding of the offering of the Shares, you should refer to the registration statement including the exhibits. Copies of some of the documents referred to herein have been filed, will be filed or will be incorporated by reference as exhibits to the registration statement of which this prospectus is a part, and you may obtain copies of those documents as described below under the heading β€œWhere You Can Find More Information.” We further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference in the accompanying prospectus were made solely for the benefit of the parties to such agreement, including in some cases, for the purpose of allocating risk among the parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs. It is important for you to read and consider all information contained in this prospectus, including the documents incorporated by reference therein, in making your investment decision. You should also read and consider the information in the documents to which we have referred you under β€œWhere You Can Find More Information” and β€œIncorporation of Certain Documents by Reference” in this prospectus.

We and the selling stockholder have not authorized anyone to give any information or to make any representation to you other than those contained or incorporated by reference in this prospectus. You must not rely upon any information or representation not contained or incorporated by reference in this prospectus. This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any of our shares of common stock other than the Shares covered hereby, nor does this prospectus constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform themselves about, and to observe, any restrictions as to the offering and the distribution of this prospectus applicable to those jurisdictions.

This prospectus, including the documents incorporated by reference herein, include statements that are based on various assumptions and estimates that are subject to numerous known and unknown risks and uncertainties. Some of these risks and uncertainties are described in the section entitled β€œRisk Factors” beginning on page 5 of this prospectus and as described in Part I, Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 29, 2024, as updated by our subsequent filings with the SEC under the Securities Exchange Act of 1934, as amended (the β€œExchange Act”). These and other important factors could cause our future results to be materially different from the results expected as a result of, or implied by, these assumptions and estimates. You should read the information contained in, or incorporated by reference into, this prospectus completely and with the understanding that future results may be materially different from and worse than what we expect. See the information included under the heading β€œSpecial Note Regarding Forward-Looking Statements.”

In this prospectus, references to the β€œCompany,” β€œwe,” β€œus,” and β€œour” refer to Serve Robotics Inc. and its subsidiaries. The phrase β€œthis prospectus” refers to this prospectus and any applicable prospectus supplement, unless the context requires otherwise. All references to β€œServe” refer to Serve Operating Co. (formerly known as Serve Robotics Inc.), a privately held Delaware corporation and our direct, wholly-owned subsidiary. Serve holds all material assets and conducts all business activities and operations of Serve Robotics Inc.

ii


PROSPECTUS SUMMARY

The following is a summary of what we believe to be the most important aspects of our business and the offering of our securities under this prospectus. We urge you to read this entire prospectus, including the more detailed consolidated financial statements, notes to the consolidated financial statements and other information incorporated by reference from our other filings with the SEC. Investing in our securities involves risks. Therefore, carefully consider the risk factors set forth in this prospectus and in our most recent annual and quarterly filings with the SEC, as well as other information in this prospectus and the documents incorporated by reference herein.

About Serve Robotics Inc.

We are on a mission to deliver a sustainable future by transforming how goods move among people.

We have developed an advanced, artificial intelligence-powered robotics mobility platform, with last-mile delivery in cities as its first application. According to the U.S. Bureau of Transportation Statistics in 2017, 45% of car trips in the United States are taken for shopping and errands, and in 2019, FedEx stated that over 60% of merchants’ customers live within three miles of a store location. By eliminating unnecessary car traffic, and by reducing the cost of last-mile transportation, we aim to reshape cities into sustainable, safe and people-friendly environments, with thriving local economies.

Our first product is a low-emissions robot that serves people in public spaces, starting with last-mile food delivery. In 2017, our core technology development began with our co-founders and a growing product and engineering team. In 2020, the team launched a fleet of sidewalk delivery robots (hereafter simply referred to as β€œdelivery robots”) in Los Angeles performing contactless deliveries during the COVID-19 pandemic shutdowns. By the end of that year, our robots had successfully completed over 10,000 commercial deliveries for Postmates Inc. (collectively with its affiliated entities, β€œPostmates”) in California, augmenting Postmates’ fleet of human couriers.

Postmates was acquired by Uber Technologies, Inc. (β€œUber”) in 2020, and in February of 2021, Uber’s leadership team agreed to contribute the intellectual property developed by the team and assets relating to this project to Serve. In return for this contribution and an investment of cash into the Company, Uber acquired a minority equity interest in the business. By the end of the first quarter of 2021, the majority of the team that had worked on this project at Postmates joined us as full-time employees.

After spinning off from Uber in 2021, we established a commercial partnership with Uber, with deliveries starting in January 2022 on a small scale. In May 2022, Uber announced a pilot program with us, and by June, it executed a commercial-scale agreement with us to deploy up to 2,000 of our robots across the United States.

Our current fleet consists of over 100 robots, and we plan to expand our fleet by building and deploying hundreds of new robots in the coming years after raising additional capital. We have platform-level integrations with the Uber Eats division of Uber and 7-Eleven, Inc. Our strategic investors include NVIDIA, Uber, 7-Ventures and Delivery Hero’s corporate venture units, alongside other world-class investors.

Because we started within a food delivery company, our team comes with a depth of expertise in food delivery. Additionally, our engineering team has extensive experience in AI, automation and robotics. Our leadership team includes veterans from Uber, Postmates, Waymo, Apple Inc., Blue Origin, LLC, GoPro, Inc., GoDaddy Inc. and Anki, Inc. We believe our expertise positions us to service the ever-growing on-demand delivery market, including food delivery.

Based on our proprietary historical delivery data, approximately half of all food delivery distances in the United States are less than 2.5 miles, making these deliveries well-suited to delivery by sidewalk robots. We provide a robotic delivery experience that can delight customers, improve reliability for merchants and reduce traffic congestion and vehicle emissions. Moreover, at scale with full utilization and high autonomy, we believe our robots have the potential to reduce average delivery cost to under $1.00, lower than delivery cost by human couriers today, making on-demand delivery more affordable and accessible in the areas in which we operate. In fact, according to a 2024 ARK Invest report, by using automation to reduce delivery costs, the potential market for food and parcel delivery by robots and drones may grow to as much as $450 billion globally in 2030.

1


Recent Developments

August 2024 PIPE

On August 27, 2024, we entered into a Securities Purchase Agreement (the β€œPurchase Agreement”) with Armistice for a private placement offering of the Pre-Funded Warrants and accompanying Common Warrants. Pursuant to the Purchase Agreement, we sold 555,555 Pre-Funded Warrants, with each Pre-Funded Warrant exercisable for one share of common stock, together with Common Warrants to purchase up to 555,555 shares of common stock. Each Pre-Funded Warrant and accompanying Common Warrant were sold together at a combined offering price of $8.9999.

In addition, pursuant to the Purchase Agreement, the Company agreed with the investor to exercise the July 2024 PIPE Common Warrants (as defined below) (the β€œWarrant Exchange”). The July 2024 PIPE Common Warrants were purchased at their exercise price of $6.00 per share. In consideration for the immediate exercise in full of the July 2024 PIPE Common Warrants for gross cash proceeds of approximately $15.0 million, the exercising holder received in a private placement the β€œExchange Warrants to purchase up to an aggregate of 2,200,000 shares of common stock with an exercise price of $10.00 per share.

The August 2024 PIPE Warrants issued in the August 2024 PIPE and related Warrant Exchange were issued and offered pursuant to the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended (the β€œSecurities Act”), and Rule 506(b) promulgated thereunder.

In connection with the Purchase Agreement, the Company entered into a registration rights agreement (the β€œRegistration Rights Agreement”) with the investor. Pursuant to the Registration Rights Agreement, the Company is required to file a resale registration statement (the β€œRegistration Statement”) with the SEC to register for resale of the shares issuable upon exercise of the August 2024 PIPE Warrants within 15 days after the closing date of the August 2024 PIPE (the β€œFiling Date”). Pursuant to the Registration Rights Agreement, the Registration Statement shall be declared effective within 15 days after the Filing Date or 45 days following the Filing Date if the Registration Statement is reviewed by the SEC. The Company will be obligated to pay certain liquidated damages to the investor if the Company fails to file the resale registration statement when required, fails to cause the Registration Statement to be declared effective by the SEC when required, of if the Company fails to maintain the effectiveness of the Registration Statement.

July 2024 PIPE

On July 23, 2024, we entered into a Securities Purchase Agreement (the β€œJuly 2024 PIPE Purchase Agreement”) with Armistice for a private placement offering (the β€œJuly 2024 PIPE”) of pre-funded warrants and accompanying warrants. Pursuant to the July 2024 PIPE Purchase Agreement, we sold 2,500,000 pre-funded warrants (the β€œJuly 2024 PIPE Pre-Funded Warrants”), with each pre-funded warrant exercisable for one share of common stock, together with warrants (the β€œJuly 2024 PIPE Common Warrants”) to purchase up to 2,500,000 shares of common stock. Each July 2024 PIPE Pre-Funded Warrant and accompanying July 2024 PIPE Common Warrant were sold together at a combined offering price of $5.9999.

The July 2024 PIPE Pre-Funded Warrants and the July 2024 PIPE Common Warrants issued in the July 2024 PIPE were issued and offered pursuant to the exemption from registration provided in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder.

In connection with the July 2024 PIPE Purchase Agreement, we entered into a registration rights agreement (the β€œJuly 2024 PIPE Registration Rights Agreement”) with Armistice. Pursuant to the July 2024 PIPE Registration Rights Agreement, we were required to file a resale registration statement (the β€œJuly 2024 PIPE Registration Statement”) with the SEC to register for resale of the shares issuable upon exercise of the July 2024 PIPE Pre-Funded Warrants and the July 2024 PIPE Common Warrants within 15 days after the closing date of the July 2024 PIPE. The July 2024 PIPE Registration Statement was filed with the SEC on July 31, 2024 and was declared effective on August 6, 2024. The Company will be obligated to pay certain liquidated damages to the investor if the Company fails to maintain the effectiveness of the Registration Statement.

2


Implications of Being an Emerging Growth Company and a Smaller Reporting Company

We qualify as an β€œemerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, as amended (the β€œJOBS Act”). An β€œemerging growth company” may take advantage of reduced reporting requirements that are otherwise applicable to public companies. These provisions include, but are not limited to:

? being permitted to present only two years of audited financial statements and only two years of related β€œManagement’s Discussion and Analysis of Financial Condition and Results of Operations” disclosure in our periodic reports and registration statements, including this prospectus;

? not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, as amended (the β€œSarbanes-Oxley Act”), on the effectiveness of our internal controls over financial reporting;

? reduced disclosure obligations regarding executive compensation arrangements in our periodic reports, proxy statements and registration statements, including this prospectus; and

? exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

We may use these provisions until December 31, 2028, which is the last day of the fiscal year following the fifth anniversary of the first sale of our common stock pursuant to an effective registration statement in 2023. However, if certain events occur prior to the end of such five-year period, including if we become a β€œlarge accelerated filer,” our annual gross revenues exceed $1.235 billion or we issue more than $1.00 billion of non-convertible debt in any three-year period, we will cease to be an emerging growth company prior to the end of such five-year period.

We have elected to take advantage of certain of the reduced disclosure obligations in the registration statement of which this prospectus is a part and may elect to take advantage of other reduced reporting requirements in future filings. As a result, the information that we provide to our stockholders may be different than you might receive from other public reporting companies in which you hold equity interests.

The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards, until those standards apply to private companies. We have elected to take advantage of the benefits of this extended transition period and, therefore, we will not be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards. Until the date that we are no longer an emerging growth company or affirmatively and irrevocably opt out of the exemption provided by Section 7(a)(2)(B) of the Securities Act upon issuance of a new or revised accounting standard that applies to our financial statements and that has a different effective date for public and private companies, we will disclose the date on which we will adopt the recently issued accounting standard.

We are also a β€œsmaller reporting company,” meaning that the market value of our stock held by non-affiliates is less than $700 million and our annual revenue is less than $100 million during the most recently completed fiscal year. We may continue to be a smaller reporting company if either (i) the market value of our stock held by non-affiliates is less than $250 million or (ii) our annual revenue is less than $100 million during the most recently completed fiscal year and the market value of our stock held by non-affiliates is less than $700 million. If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.

Corporate History and Information

We were incorporated in the State of Delaware as Patricia Acquisition Corp. on November 9, 2020. On July 31, 2023, Serve Acquisition Corp. merged with and into Serve (the β€œMerger”). Following the Merger, Serve was the surviving entity and became our wholly-owned subsidiary, and all of the outstanding stock of Serve was converted into shares of our common stock. The business of Serve became our business as a result of the Merger. Following the consummation of the Merger, Serve changed its name to β€œServe Operating Co.” and we changed our name to β€œServe Robotics Inc.”

Prior to the Merger, Patricia Acquisition Corp. was a β€œshell” company registered under the Exchange Act, with no specific business plan or purpose until it began operating the business of Serve following the closing of the Merger.

Our principal executive offices are located at 730 Broadway, Redwood City, California 94063. Our telephone number is (818) 860-1352. Our website address is http://www.serverobotics.com. Information contained on, or that can be accessed through, our website is not a part of this prospectus.

All trademarks, service marks and trade names appearing in this prospectus are the property of their respective holders. Use or display by us of other parties’ trademarks, trade dress, or products in this prospectus is not intended to, and does not, imply a relationship with, or endorsements or sponsorship of, us by the trademark or trade dress owners.

3


THE OFFERING

This prospectus relates to the resale from time to time by the selling stockholder identified herein of up to 3,311,110 Shares. We are not offering any shares of common stock for sale under the registration statement of which this prospectus is a part.

Shares of common stock that may be offered by the selling stockholder: 3,311,110 shares of common stock.

Common stock outstanding 42,339,877 shares of common stock outstanding as of August 29, 2024 (42,895,432 shares of common stock if the Pre-Funded Warrants are exercised).

Use of proceeds: We will not receive any proceeds from the sale of the Shares covered by this prospectus. However, we will receive the proceeds of any cash exercise of the August 2024 PIPE Warrants.

Offering price: The selling stockholder may sell all or a portion of its Shares through public or private transactions at prevailing market prices or at privately negotiated prices.

Risk factors: Investing in our securities involves a high degree of risk and purchasers may lose their entire investment. See the disclosure under the heading β€œRisk Factors” on page 5 of this prospectus.

Nasdaq trading symbol: SERV

The number of shares of common stock outstanding is based on an aggregate of 42,339,877 shares outstanding as of August 29, 2024, and excludes:

? 555,555 shares of common stock issuable upon the exercise of the Pre-Funded Warrants with an exercise price of $0.0001 per share;

? 555,555 shares of common stock issuable upon the exercise of the Common Warrants with an exercise price of $10.00 per share;

? 2,200,000 shares of common stock issuable upon the exercise of the Exchange Warrants with an exercise price of $10.00 per share;

?
1,422,371 shares of common stock issuable upon the exercise of stock options outstanding as of June 30, 2024 that were subject to options originally granted under the Serve Robotics Inc. 2021 Stock Plan and 110,168 shares of common stock issuable upon the exercise of stock options outstanding as of June 30, 2024 that were subject to options granted under the Serve Robotics Inc. 2023 Equity Incentive Plan (the β€œ2023 Plan”), with a weighted-average exercise price of $0.86 per share;

? 955,804 shares of common stock issuable upon the vesting of restricted stock unit awards outstanding as of June 30, 2024 granted under the 2023 Plan;

?
3,723,300 shares of common stock available for issuance under the 2023 Plan as of June 30, 2024 (which include 3,703,549 shares which became available following an increase approved by our Board and our stockholders in July 2024);

? outstanding warrants to purchase an aggregate of 128,511 shares of our common stock issued to certain accredited investors in connection with the Merger and related private placement transaction (the β€œPrivate Placement”) at the exercise price of $3.20 per share as of August 29, 2024;

? outstanding warrants to purchase an aggregate of 33,273 shares of our common stock issued to certain broker-dealers in connection with the Merger and Private Placement with an exercise price of $4.00 per share as of August 29, 2024;

? outstanding warrants to purchase an aggregate of 2,145,000 shares of our common stock issued to Magna New Mobility USA, Inc. with an exercise price of $0.01 per share as of August 29, 2024;

? outstanding warrants to purchase an aggregate of 500,000 shares of our common stock issued to Aegis Capital Corp. in connection with its services as the underwriter in our public offering in April 2024 (the β€œPublic Offering”) with an exercise price of $5.00 per share as of August 29, 2024; and

? outstanding warrants to purchase an aggregate of 1,091 shares of our common stock issued to Network 1 Financial Securities, Inc. (β€œNetwork 1”) and its affiliates in connection with Network 1’s services as the placement agent in our convertible notes offering in January 2024 with an exercise price of $2.42 per share as of August 29, 2024.

Except as otherwise indicated, all information in this prospectus:

? reflects the issuance of 10,000,000 shares of our common stock in the Public Offering;

? assumes no exercise of outstanding options subsequent to June 30, 2024; and

? assumes no vesting of restricted stock unit awards subsequent to June 30, 2024.

4


RISK FACTORS

Investing in our common stock involves a high degree of risk. You should carefully consider the risks and uncertainties and all other information, documents or reports included or incorporated by reference in this prospectus and, if applicable, any prospectus supplement or other offering materials, including the risks and uncertainties discussed and described in Part I, Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 29, 2024, as updated by our subsequent filings with the SEC under the Exchange Act, which are incorporated by reference, in this prospectus, and any updates to those risk factors included from time to time in our periodic and current reports filed with the SEC and incorporated by reference in this prospectus, before making any decision to invest in shares of our common stock. If any of the events discussed in these risk factors occurs, our business, prospects, results of operations, financial condition and cash flows could be materially harmed. If that were to happen, the trading price of our common stock could decline, and you could lose all or part of your investment. Additional risks not currently known to us or other factors not perceived by us to present significant risks to our business at this time also may impair our business operations.

5


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This prospectus and the documents we have filed with the SEC that are incorporated by reference contain β€œforward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that involve substantial risks and uncertainties. In some cases, forward-looking statements are identified by the words β€œanticipate,” β€œbelieve,” β€œcontinue,” β€œcould,” β€œestimate,” β€œexpect,” β€œfuture,” β€œgoals,” β€œintend,” β€œlikely,” β€œmay,” β€œmight,” β€œongoing,” β€œobjective,” β€œplan,” β€œpotential,” β€œpredict,” β€œproject,” β€œseek,” β€œshould,” β€œstrategy,” β€œwill” and β€œwould” or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.

Although we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus and the documents that we have filed with the SEC that are incorporated by reference, such statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Forward-looking statements include statements about:

? our ability to protect and enforce our intellectual property and the scope and duration of such protection;

? our reliance on third parties, including suppliers, delivery platforms, brand sponsors, software providers and service providers;

? our ability to operate in public spaces and any errors caused by human supervisors, network connectivity or automation;

? our robots’ reliance on sophisticated software technology that incorporates third-party components and networks to operate and our ability to maintain licenses for this software technology;

? our ability to commercialize our products at a large scale;

? the competitive industry in which we operate which is subject to rapid technological change;

? our ability to raise additional capital to develop our technology and scale our operations;

? developments and projections relating to our competitors and our industry;

? our ability to adequately control the costs associated with our operations;

? the impact of current and future laws and regulations, especially those related to personal delivery devices;

? potential cybersecurity risks to our operational systems, infrastructure and integrated software by us or third-party vendors;

? our ability to continue as a going concern; and

? other risks and uncertainties, including those described in Part I, Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K for the year ended December 31, 2023.

These statements relate to future events or our future operational or financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed in Part I, Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 29, 2024 and elsewhere in this prospectus, in any applicable prospectus supplement and in any related free writing prospectus.

Any forward-looking statement in this prospectus, in any applicable prospectus supplement and in any related free writing prospectus reflects our current view with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our business, results of operations, industry and future growth. Given these uncertainties, you should not place undue reliance on these forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read this prospectus, any applicable prospectus supplement and any related free writing prospectus and the documents that we reference therein and have filed with the SEC as exhibits thereto completely and with the understanding that our actual future results may be materially different from any future results expressed or implied by these forward-looking statements. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

This prospectus contains, and any applicable prospectus supplement and any related free writing prospectus may contain, estimates, projections and other information concerning our industry, our business and the markets for certain robotics. Information based on estimates, forecasts, projections or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information. Unless otherwise expressly stated, we obtained these industry, business, market and other data from reports, research surveys, studies and similar data prepared by third parties, industry, medical and general publications, government data and similar sources that we believe to be reliable. In some cases, we do not expressly refer to the sources from which such data are derived.

6



USE OF PROCEEDS

We are filing the registration statement of which this prospectus forms a part to permit the holder of the Shares described in the section entitled β€œSelling Stockholder” to resell such Shares. We are not selling any securities under this prospectus, and we will not receive any proceeds from the sale or other disposition of shares of our common stock held by the selling stockholder. However, we will receive the proceeds of any cash exercise of the August 2024 PIPE Warrants.

The selling stockholder will pay any underwriting discounts and commissions and expenses incurred by the selling stockholder for brokerage, accounting, tax or legal services or any other expenses incurred by the selling stockholder in disposing of these Shares unless otherwise set forth in the Registration Rights Agreement. We will bear all other costs, fees and expenses incurred in effecting the registration of the Shares covered by this prospectus, including, without limitation, all registration and filing fees, Nasdaq listing fees and fees and expenses of our counsel and our accountants.

7


SELLING STOCKHOLDER

The common stock being offered by the selling stockholder are those issuable to the selling stockholder upon exercise of the Pre-Funded Warrants, Common Warrants and Exchange Warrants. For additional information regarding the issuances of the Pre-Funded Warrants, Common Warrants and Exchange Warrants, see β€œProspectus Summary – Recent Developments” above. We are registering the shares of common stock issuable upon the exercise of the Pre-Funded Warrants, Common Warrants and Exchange Warrants in order to permit the selling stockholder to offer the shares for resale from time to time. Except for the ownership of the Pre-Funded Warrants, Common Warrants and Exchange Warrants and the July 2024 PIPE Pre-Funded Warrants and July 2024 PIPE Common Warrants issued in the July 2024 PIPE, the selling stockholder has not had any material relationship with us within the past three years.

The table below lists the selling stockholder and other information regarding the beneficial ownership of the shares of common stock by the selling stockholder. The second column lists the number of shares of common stock beneficially owned by the selling stockholder, based on its ownership of the Pre-Funded Warrants, Common Warrants and Exchange Warrants, as of August 29, 2024, assuming exercise of the Pre-Funded Warrants, Common Warrants and Exchange Warrants held by the selling stockholder on that date, without regard to any limitations on exercises.

The third column lists the shares of common stock being offered by this prospectus by the selling stockholder.

In accordance with the terms of the Registration Rights Agreement, this prospectus generally covers the resale of the maximum number of shares of common stock issuable upon exercise of the Pre-Funded Warrants, Common Warrants and Exchange Warrants, determined as if the outstanding Pre-Funded Warrants, Common Warrants and Exchange Warrants were exercised in full as of the trading day immediately preceding the date this registration statement was initially filed with the SEC, each as of the trading day immediately preceding the applicable date of determination and all subject to adjustment as provided in the registration right agreement, without regard to any limitations on the exercise of the warrants. The fourth column assumes the sale of all of the shares offered by the selling stockholder pursuant to this prospectus.

Under the terms of each of the Pre-Funded Warrants, Common Warrants and Exchange Warrants, a selling stockholder may not exercise such Pre-Funded Warrants, Common Warrants or Exchange Warrants to the extent such exercise would cause such selling stockholder, together with its affiliates and attribution parties, to beneficially own a number of shares of common stock which would exceed 9.99% of our then outstanding common stock following such exercise, excluding for purposes of such determination shares of common stock issuable upon exercise of the Pre-Funded Warrants which have not been exercised. The number of shares in the second and fourth columns do not reflect this limitation. The selling stockholder may sell all, some or none of their shares in this offering. See β€œPlan of Distribution.”

Name of Selling Stockholder Number of Shares of
Common Stock Owned
Prior to Offering Maximum Number of
Shares of Common Stock
to be Sold Pursuant to This
Prospectus (1) Number of Shares of
Common Stock Owned
After Offering
Armistice Capital, LLC β€” 3,311,110 (2)(3) β€”

(1) Assumes the sale of all shares offered in this prospectus.

(2) Includes (i) 555,555 shares of common stock issuable upon exercise of the Pre-Funded Warrants, (ii) 555,555 shares of common stock issuable upon exercise of the Common Warrants and (iii) 2,200,000 shares of common stock issuable upon exercise of the Exchange Warrants held by the selling stockholder. The Pre-Funded Warrants, Common Warrants and Exchange Warrants are subject to certain beneficial ownership limitations that prohibit Armistice from exercising any portion of them if, following such exercise, Armistice’s ownership of our common stock would exceed the relevant warrant’s ownership limitation.

(3) The securities are directly held by Armistice and may be deemed to be beneficially owned by: (i) Armistice Capital, LLC (β€œArmistice Capital”), as the investment manager of Armistice, and (ii) Steven Boyd, as the Managing Member of Armistice Capital. The August 2024 PIPE Warrants are subject to a beneficial ownership limitation of 9.99%, and such limitation restricts the selling stockholder from exercising that portion of the August 2024 PIPE Warrants that would result in the selling stockholder and its affiliates owning, after exercise, a number of shares of common stock in excess of the beneficial ownership limitation. The address of Armistice is c/o Armistice Capital, LLC, 510 Madison Avenue, 7th Floor, New York, NY 10022.

8


PLAN OF DISTRIBUTION

The selling stockholder and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their securities covered hereby on the principal trading market or any other stock exchange, market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated prices. A selling stockholder may use any one or more of the following methods when selling securities:

? ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

? block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction;

? purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

? an exchange distribution in accordance with the rules of the applicable exchange;

? privately negotiated transactions;

? settlement of short sales;

? in transactions through broker-dealers that agree with the selling stockholder to sell a specified number of such securities at a stipulated price per security;

? through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

? a combination of any such methods of sale; or

? any other method permitted pursuant to applicable law.

The selling stockholder may also sell securities under Rule 144 or any other exemption from registration under the Securities Act, if available, rather than under this prospectus.

Broker-dealers engaged by the selling stockholder may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholder (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440.

In connection with the sale of the securities or interests therein, the selling stockholder may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The selling stockholder may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities to broker-dealers that in turn may sell these securities. The selling stockholder may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The selling stockholder and any broker-dealers or agents that are involved in selling the securities may be deemed to be β€œunderwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. The selling stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the securities.

The Company is required to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company has agreed to indemnify the selling stockholder against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

We agreed to keep this prospectus effective until the earlier of (i) the date on which the securities may be resold by the selling stockholder without registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for the Company to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

Under applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In addition, the selling stockholder will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the common stock by the selling stockholder or any other person. We will make copies of this prospectus available to the selling stockholder and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

9


LEGAL MATTERS

The validity of the Shares being offered by this prospectus is being passed upon for us by Orrick, Herrington & Sutcliffe LLP, Boston, Massachusetts.

EXPERTS

The consolidated financial statements of Serve Robotics Inc. appearing in its Annual Report (Form 10-K) for the year ended December 31, 2023, incorporated by reference in this prospectus, have been audited by dbbmckennon, independent registered public accounting firm, as set forth in their report (which contains an explanatory paragraph describing conditions that raise substantial doubt about Serve’s ability to continue as a going concern as described in Note 2 to the financial statements), which is incorporated herein by reference. Such consolidated financial statements have been so incorporated by reference in reliance upon the report of such firm given their authority as experts in accounting and auditing.

WHERE YOU CAN FIND MORE INFORMATION

We have filed with the SEC this registration statement on Form S-3 under the Securities Act with respect to the shares of common stock being offered by this prospectus. This prospectus, which constitutes a part of this registration statement, does not contain all of the information in this registration statement and its exhibits. For further information with respect to us and the common stock offered by this prospectus, you should refer to this registration statement and the exhibits filed as part of this document. Statements contained in this prospectus as to the contents of any contract or any other document referred to are not necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an exhibit to this registration statement. Each of these statements is qualified in all respects by this reference.

We are subject to the informational requirements of the Exchange Act and file annual, quarterly and current reports, proxy statements and other information with the SEC. You can read our SEC filings, including this registration statement, over the internet on the SEC’s website at http://www.sec.gov. You may also request a copy of filings, at no cost, by writing or telephoning us at: Serve Robotics Inc. 730 Broadway, Redwood City, California 94063, (818) 860-1352.

10


INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

The SEC allows us to β€œincorporate by reference” information into this prospectus, which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, and subsequent information that we file later with the SEC will automatically update and supersede this information. We filed a registration statement on Form S-3 under the Securities Act with the SEC with respect to the securities we may offer pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted by the SEC. You should refer to the registration statement, including the exhibits, for further information about us and the securities we may offer pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with, or incorporated by reference in, the registration statement are not necessarily complete and each statement is qualified in all respects by that reference. Copies of all or any part of the registration statement, including the documents incorporated by reference or the exhibits, may be obtained from the SEC’s website at http://www.sec.gov. The documents we are incorporating by reference are:

? our Annual Report on Form 10-K for the year ended December 31, 2023 that we filed with the SEC on February 29, 2024;

? our Quarterly Reports on Form 10-Q for the quarter ended March 31, 2024, filed with the SEC on May 15, 2024, and for the quarter ended June 30, 2024, filed with the SEC on August 13, 2024.

? our Current Reports on Form 8-K filed with the SEC on January 3, 2024, February 7, 2024, February 23, 2024, March 7, 2024, April 9, 2024, April 18, 2024, April 23, 2024, April 24, 2024, May 15, 2024, June 3, 2024, July 23, 2024, July 24, 2024, August 13, 2024 and August 28, 2024, to the extent information therein is filed and not furnished; and

? the description of our common stock contained in our Registration Statement on Form 10-12G/A filed with the SEC on April 9, 2021, pursuant to Section 12(g) of the Exchange Act, as updated by the description of the Registrant’s common stock contained in Exhibit 4.8 to the FY 2023 Form 10-K, and including any other amendments or reports filed for the purpose of updating such description.

11


We also incorporate by reference any future filings (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on such form that are related to such items unless such Form 8-K expressly provides to the contrary) made with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, including those made after the date of the initial filing of the registration statement of which this prospectus is a part and prior to effectiveness of such registration statement, until we file a post-effective amendment that indicates the termination of the offering of the securities made by this prospectus and will become a part of this prospectus from the date that such documents are filed with the SEC. Information in such future filings updates and supplements the information provided in this prospectus. Any statements in any such future filings will automatically be deemed to modify and supersede any information in any document we previously filed with the SEC that is incorporated or deemed to be incorporated herein by reference to the extent that statements in the later filed document modify or replace such earlier statements.

You may request, orally or in writing, a copy of any or all of the documents incorporated herein by reference. These documents will be provided to you at no cost, by contacting:

Serve Robotics Inc.
730 Broadway
Redwood City, California 94063
Attn: Brian Read, Chief Financial Officer
(818) 860-1352

You may also access these documents on our website at investors.serverobotics.com. Information contained on our website is not incorporated by reference into this prospectus, and you should not consider any information on, or that can be accessed from, our website as part of this base prospectus or any accompanying prospectus supplement.

You should rely only on information contained in, or incorporated by reference into, this prospectus. We and the selling stockholder have not authorized anyone to provide you with information different from that contained in this prospectus or incorporated by reference in this prospectus. We and the selling stockholder are not making offers to sell the securities in any jurisdiction in which such an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

12


3,311,110 Shares



Common Stock


PROSPECTUS


September 11, 2024





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tw0122 tw0122 4 weeks ago
8.46 to 9.40 zone of interest
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tbonaces80 tbonaces80 1 month ago
Loading for a swing trade here. Load with stops
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retireat40 retireat40 1 month ago
If shorts covered then the squeeze play is gone. We’ll see.
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retireat40 retireat40 1 month ago
There were 4.5 million shares short as of 7/31. I’ll be interested to see the 8/15 report.
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PirateLeviathan8 PirateLeviathan8 1 month ago
with a turnover of 12 million and a sideways movement all day, i would assume that a lot of short positions were covered today, as there is hardly anyone left who wants to sell the stock and such sellers need the shorts
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tw0122 tw0122 1 month ago

July 2024 PIPE

On July 23, 2024, we entered into a Securities Purchase Agreement with Armistice for a private placement offering of the Pre-Funded Warrants and accompanying Investor Warrants. Pursuant to the Securities Purchase Agreement, we sold 2,500,000 Pre-Funded Warrants, with each Pre-Funded Warrant exercisable for one share of Common Stock, together with Investor Warrants to purchase up to 2,500,000 shares of Common Stock. Each Pre-Funded Warrant and accompanying Investor Warrant were sold together at a combined offering price of $5.9999.

Summary Risk Factors
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tw0122 tw0122 1 month ago
See if it holds 8.56 and if they want to hold it there seems like a better buying level.
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tw0122 tw0122 1 month ago
Let the hedgies who control the stock do their work and then another ride up eventually. Serv=put delivery drivers out of business so it will get more contracts
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PirateLeviathan8 PirateLeviathan8 1 month ago
Wait, the News is good, the stock like go up and shorts can not hold him for long time
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retireat40 retireat40 1 month ago
Unfortunately not happening.
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PirateLeviathan8 PirateLeviathan8 1 month ago
AH High was 12,85$

A squeeze tomorrow is not unrealistic at all
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Legend431 Legend431 1 month ago
You are an absolute clown that has no idea on what you are talking about 🤡🤡
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PirateLeviathan8 PirateLeviathan8 1 month ago
i load the dip right now, because most of the shares that would be short today will be cover until the end
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retireat40 retireat40 1 month ago
Might see 10 before the close.
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retireat40 retireat40 1 month ago
Nope. Too many shorts.
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retireat40 retireat40 1 month ago
Or not
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PirateLeviathan8 PirateLeviathan8 1 month ago
the more shares you short today, the more massive the squeeze will be today
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Moonboy1 Moonboy1 1 month ago
Shorts are trying hard to keep it down but that's some huge news with a company with 100s or thousands of locations
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PirateLeviathan8 PirateLeviathan8 1 month ago
in my opinion, we see over 14,40$ a massive squeeze today
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tw0122 tw0122 1 month ago
$100 by next year. This one exponential longer term. Rollout of Uber robots just in baby stages. They will be eliminating hundreds of millions of delivery driver jobs worldwide longer term and savings for consumer and restaurants
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PirateLeviathan8 PirateLeviathan8 1 month ago
break out 13,70$ chart and volume go up
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PirateLeviathan8 PirateLeviathan8 1 month ago
The News is perfect for going up to 17$ and the shorts have a big problem
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Moonboy1 Moonboy1 1 month ago
Formed a lower trend line and now coiling up into a triangle. Hopefully if breaks up
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PirateLeviathan8 PirateLeviathan8 1 month ago
13,47$ and go up
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Moonboy1 Moonboy1 1 month ago
Needs to break this trend line that it fell below. It's right below it here at 13.30
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PirateLeviathan8 PirateLeviathan8 1 month ago
with the deal we could see 17$+ today
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Moonboy1 Moonboy1 1 month ago
Trying to come back and fill the gap. Need more volume to to stop it.
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Monksdream Monksdream 1 month ago
Early Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?timeFrame=today&viewName=main&screener=overall&orderBy=percentChange&orderDir=desc
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abrooklyn abrooklyn 1 month ago
Serve Robotics and Shake Shack Roll Out Autonomous Robot Delivery Via Uber Eats

Source: PR Newswire (US)
Select Shake Shack customers in the Los Angeles area may receive their next order via a Serve robot
Serve continues to make progress towards its commitment to deploy up to 2,000 AI-powered sidewalk delivery robots on the Uber platform
SAN FRANCISCO, Aug. 14, 2024 /PRNewswire/ -- Serve Robotics Inc. ("Serve") (Nasdaq: SERV), a leading autonomous sidewalk delivery company, and Shake Shack Inc. ("Shake Shack") (NYSE: SHAK) today announced a partnership to deliver Shake Shack using Serve's autonomous delivery robots via Uber Eats, the delivery platform of Uber Technologies Inc. (NYSE: UBER).

Serve Robotics delivery robot delivering for Shake Shack

Customers who order from select Shake Shack restaurants in Los Angeles through Uber Eats may receive their order via Serve's innovative autonomous robots. The partnership marks another step forward in the expansion of sidewalk robots on Uber Eats, which has been offering Serve's autonomous deliveries in Los Angeles since 2022, and is poised to lead to future expansion across the U.S.

"We are excited to add another national merchant like Shake Shack to our platform, a partnership made possible through the relationship we have built with Uber Eats across tens of thousands of successful deliveries," said Touraj Parang, President and COO of Serve Robotics. "Today's announcement highlights the value of Serve's world-class strategic partnerships as we work to expand our geographic footprint and deploy 2,000 robots across the U.S. in 2025."

"We're thrilled about our collaboration with Serve Robotics and Uber Eats," said Steph So, Senior Vice President of Digital Experience at Shake Shack. "In line with our vision of enlightened hospitality, this partnership highlights our commitment to leveraging innovation to enhance guest experiences both in and out of Shack."

"Serve has been advancing their technology for years to provide merchants and consumers with not only a futuristic experience but greater affordability, reliability, and convenience," said Noah Zych, Global Head of Autonomous Mobility & Delivery at Uber. "We're thrilled to take another step forward and give Shake Shack customers in Los Angeles a little more Uber magic through sidewalk robot delivery."

Key Features of Serve's Autonomous Delivery Robots:

Quick and Convenient: Optimized for efficient route planning and available on demand, Serve's robots enable food to arrive reliably, hot/cold and fresh.
Secure and Contactless Delivery: Serve's robots are designed to maintain the security of the food items during transit, providing a fully contactless delivery option.
Cost-Effective: Robotic delivery increases efficiency and lowers costs. And there's no need to tip the robot!
Safe Navigation Systems: Equipped with advanced GPS technology and artificial intelligence (AI), the robots safely and swiftly navigate urban environments, avoiding obstacles and offering a smooth delivery experience.
Eco-Friendly Solution: The all-electric robots will eliminate noise and congestion from crowded urban areas and help reduce the carbon footprint associated with traditional delivery methods.
Shake Shack autonomous robotic delivery is currently available through the Uber Eats app. To learn more about the delivery process, visit www.serverobotics.com/uber-eats.

About Shake Shack
Shake Shack serves elevated versions of American classics using only the best ingredients. It's known for its delicious made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more. With its high-quality food at a great value, warm hospitality, and a commitment to crafting uplifting experiences, Shake Shack quickly became a cult-brand with widespread appeal. Shake Shack's purpose is to Stand For Something Good®, from its premium ingredients and employee development, to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC's Madison Square Park, the Company has expanded to over 550 locations system-wide, including over 350 in 34 U.S. States and the District of Columbia, and over 195 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.

Skip the line with the Shack App, a mobile ordering app that lets you save time by ordering ahead! Guests can select their location, pick their food, choose a pickup time and their meal will be cooked-to-order and timed to arrival. Available on iOS and Android.

Learn more: shakeshack.com | IG: @shakeshack | t: @shakeshack | facebook.com/shakeshack

About Uber
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 49 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

About Serve Robotics
Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

For further information about Serve Robotics (Nasdaq:SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Serve intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. These forward-looking statements can be about future events, including statements regarding Serve's intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Serve's expectations with respect to the financial and operating performance of its business, its capital position, and future growth. The words "anticipate", "believe", "expect", "project", "predict", "will", "forecast", "estimate", "likely", "intend", "outlook", "should", "could", "may", "target", "plan" and other similar expressions can generally be used to identify forward-looking statements. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Any forward-looking statements in this press release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include those risks and uncertainties set forth in Serve's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (the "SEC") and in its subsequent filings filed with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Serve undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contacts

Media
Malory Van Guilder
Skyya PR for Serve Robotics
serve@skyya.com
651.335.0585

Investor Relations
investor.relations@serverobotics.com



Serve Robotics delivery robot on delivery for Shake Shack

Serve Robotics robot delivering for Shake Shack

Serve Robotics delivery robot delivering for Shake Shack
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Awl416 Awl416 1 month ago
Serve Robotics and Shake Shack Roll Out Autonomous Robot Delivery Via Uber Eats
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jdheart101 jdheart101 1 month ago
Short squeeze tomorrow
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abrooklyn abrooklyn 1 month ago
Serve Robotics Announces Second Quarter 2024 Results
PR Newswire
Tue, Aug 13, 2024 at 4:05 PM EDT

https://finance.yahoo.com/news/serve-robotics-announces-second-quarter-200500556.html
Manufacturing activities commenced on 2,000-robot fleet deployment following entry into manufacturing agreement with Magna and amendment to lidar supply agreement with Ouster

Cash position bolstered by proceeds of $40 million equity offering, as well as post-quarter $15 million private placement transaction

SAN FRANCISCO, Aug. 13, 2024 /PRNewswire/ -- Serve Robotics Inc. (the "Company" or "Serve") (Nasdaq: SERV), a leading autonomous sidewalk delivery company, today announced financial results for the second quarter 2024 ended June 30, 2024.

"We are pleased to report another strong quarter, extending our 30-month track record of double-digit month-over-month growth and improvements in key operational metrics," said Dr. Ali Kashani, Serve's Co-founder and CEO. "This quarter, we expanded into Koreatown in Los Angeles, signed important agreements with Magna International Inc. ("Magna") and expanded on our supply agreement with Ouster Inc. ("Ouster"), and appointed our Chief Hardware & Manufacturing Officer to spearhead our fleet expansion efforts. I am particularly pleased to announce that Serve has completed the design of our third-generation robot. Looking ahead, we are focused on executing Serve's fleet expansion plan to deploy at least 250 additional robots in Los Angeles by the end of Q1 2025. We believe our continued execution of this plan through year end 2025 will position Serve to deploy all 2,000 robots under our Uber Eats agreement, which at full utilization is expected to generate $60 to $80 million in run-rate revenue annually."

Second Quarter 2024 and Recent Highlights

Public Offering & Follow-on Transaction: On April 18, 2024, Serve completed a successful public equity offering, which generated $40.0 million in gross proceeds, and through which Serve's common stock began trading on The Nasdaq Capital Market under the ticker symbol "SERV". Post quarter-end, the company also completed a private placement transaction with gross proceeds of $15.0 million.

Operational Performance: Serve averaged 385 daily supply hours during the second quarter 2024, a 106% increase year-over-year and a 28% increase quarter-over-quarter. The Company also achieved an 85% increase in daily active robots year-over-year and a 23% increase quarter-over-quarter.

Los Angeles Expansion: In June 2024, Serve announced the expansion of its delivery operations into Koreatown and began onboarding new local merchants through its partnership with Uber Eats. The coverage expansion represents execution of Serve's long-term plan to broaden its geographic reach in Los Angeles and across the U.S.

Manufacturing activities commenced following Magna and Ouster agreements: In the second quarter Serve commenced manufacturing activities on its 2,000-robot fleet, led by Euan Abraham, the Company's newly promoted Chief Hardware & Manufacturing Officer. Serve also entered into a purchase and production agreement with Magna, under which Magna will become the contract manufacturer of Serve's delivery robots, and signed an amendment expanding its supply agreement with Ouster to equip its next-generation robots with upgraded sensors for enhanced performance.

Manufacturing activities commenced following Magna and Ouster agreements: In the second quarter Serve commenced manufacturing activities on its 2,000-robot fleet, led by Euan Abraham, the Company's newly promoted Chief Hardware & Manufacturing Officer. Serve also entered into a purchase and production agreement with Magna, under which Magna will become the contract manufacturer of Serve's delivery robots, and signed an amendment expanding its supply agreement with Ouster to equip its next-generation robots with upgraded sensors for enhanced performance.

Second Quarter Financial Highlights

Second quarter revenue was $0.47 million, including $0.30 million of software service revenue derived from the Company's software services agreement with Magna. As forecasted, Serve's services contract with Magna was significantly completed during the second quarter, and the Company does not anticipate material software services revenue in Q3 2024.

As of June 30, 2024, the Company had $28.8 million of cash and cash equivalents.

As of June 30, 2024, the Company had 36.5 million shares of common stock outstanding, and 42.6 million shares outstanding on a fully diluted basis. Following the Company's July 2024 private placement, the Company had approximately 48.2 million shares outstanding on a fully diluted basis.

Quarterly Conference Call

Company management will host a conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results and provide a corporate update. A live webcast and replay can be accessed from the investor relations page of Serve's website at investors.serverobotics.com.

Individuals interested in listening to the conference call may do so by dialing (646) 968-2525 and referencing conference ID#: 1640108.

About Serve

Serve develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

For further information about Serve (Nasdaq: SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.


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abrooklyn abrooklyn 2 months ago
UNITED STATES SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C.

FORM D Notice of Exempt Offering of Securities

https://www.otcmarkets.com/filing/html?id=17734943&guid=OoO-kFooDQAWB3h
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abrooklyn abrooklyn 2 months ago
8-5-2024 Borrow Rate

126.875%

yowza
they have to cover at some point
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abrooklyn abrooklyn 2 months ago
Fido Borrow rate 8-1-2024

97.5%

😳
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J2003 J2003 2 months ago
Let’s close above 0.20 today!
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J2003 J2003 2 months ago
See you above $19!
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MightyX MightyX 2 months ago
I could say the same thing but I won’t
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Savannah-Marc Savannah-Marc 2 months ago
Check out my recent post history and see where I've been commenting, that's where the BIG money is going to be very very soon.
👍️ 1 🫡 1
potOgold17 potOgold17 2 months ago
Looks like this one wants to run!!!
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MightyX MightyX 2 months ago
What is is
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J2003 J2003 2 months ago
Am I right or not?
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J2003 J2003 2 months ago
After 12 pm will be crazy roller coaster. Are you ready for wild goose chase?
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MightyX MightyX 2 months ago
Her actions in-the absence of her silence is why.
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MightyX MightyX 2 months ago
That dumb bitch losing..cheating never wins
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MightyX MightyX 2 months ago
Short got SERV’d
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MightyX MightyX 2 months ago
Short seller needed under $14 close..short-losing @$16’s..hahaha
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