Serve Robotics (NASDAQ: SERV) Announces $80 Million Registered Direct Offering
Summary
Serve Robotics has engaged Northland Securities, Inc. to act as the exclusive placement agent for this operation on a best efforts basis. The Company will pay the Placement Agent a cash fee amounting to 5.0% of the total gross proceeds received in the offering.Further to this development, Serve Robotics issued a press release on the same day, January 7, 2025, communicating the pricing of the Registered Direct Offering. Additionally, it specifies that no sales of these securities will take place in any jurisdiction where such an offer, solicitation, or sale would be deemed unlawful without prior registration or qualification under the relevant state or jurisdictional securities laws.Serve Robotics, post spin-off from Uber in 2021, has established a niche in developing advanced AI-powered, low-emission sidewalk delivery robots and has executed thousands of deliveries for several notable partners. For more details about Serve Robotics, interested parties are encouraged to visit the official website or follow them on social media platforms.Safe Harbor Forward-Looking Statements: The press release also includes forward-looking statements reflecting Serves expectations regarding its financial and operational performance, capital position, and future growth. Serve Robotics does not undertake any obligation to update these forward-looking statements.This article was generated by an automated content engine and was reviewed by a human editor prior to publication.