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TechMediaBreaks – Serve Robotics Inc. (NASDAQ: SERV) Closes on $40M Public Offering, Uplists to the Nasdaq Capital Market

Serve Robotics (NASDAQ: SERV), a leading autonomous sidewalk delivery company, recently announced the closing of its underwritten public offering. The offering comprised 10,000,000 shares of common stock at $4.00 per unit, resulting in aggregate gross proceeds of $40 million, before deductions. In addition, Serve granted Aegis Capital Corp., the sole book-running manager, a 45-day option to purchase up to 1,500,000 additional shares of common stock to cover over-allotments. If Aegis exercises the option in full, the total gross proceeds of the offering would be approximately $46 million before deductions. Serve plans to use the net proceeds from the offering to fund research and development of the next generations of Serve’s robots, manufacturing activities, geographic expansion, and for working capital and other general corporate purposes. According to the announcement, Serve’s shares began trading on the Nasdaq Capital Market under the ticker symbol SERV and will no longer trade on the OTCQB(R) Venture Market.

To view the full press release, visit https://ibn.fm/zfaWt

About Serve Robotics Inc.

Backed by Uber and NVIDIA, 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. The company 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 more information, please visit www.serverobotics.com.

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

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