Company: SERV
Filing Date: 2025-01-07
Form Type: 424B5
Source: 0001213900-25-001654
Chunk: 10

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-01-07
Form: 424B5
Chunk 10
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 and prospects could be materially and adversely affected. In that event, the trading price of our common stock could decline and you could lose part or all of your investment. Additional risks and uncertainties that are not yet identified or that we currently believe to be immaterial may also materially harm our business, financial condition, results of operations and prospects and could result in a complete loss of your investment.

Risks Related to This Offering and Our Common Stock

The price of our common stock has and may continue to fluctuate significantly, and this may make it difficult for you to resell shares of common stock owned by you at times or at prices you find attractive.

The trading price of our common
stock has fluctuated widely and may continue to fluctuate widely as a result of a number of factors, many of which are outside our control.
Since our common stock began trading on Nasdaq, our stock has traded at prices as low as $1.82 per share and as high as $22.89 per share
through January 6, 2025. In addition, the stock market is subject to fluctuations in the share prices and trading volumes that affect
the market prices of the shares of many companies. These broad market fluctuations have adversely affected and may continue to adversely
affect the market price of our common stock. Among the factors that could affect our stock price are:

| ● | actual or anticipated fluctuations in our financial condition                      
 and operating results, including fluctuations in our quarterly and annual results; |

| ● | our ability to maintain the listing of our common stock on 
 Nasdaq;                                                    |

| ● | our ability to recognize the anticipated benefits of the                                                                
 Merger, which may be affected by, among other things, competition and our ability to grow and manage growth profitably; |

| ● | our ability to enter into binding contracts with original                               
 equipment manufacturers or tier-one suppliers in order to execute on our business plan; |

| ● | our expansion plans and opportunities; |

| ● | our expectations regarding future expenditures; |

| ● | announcements of technological innovations by us or our competitors; |

| ● | overall conditions in our industry and the markets in which 
 we operate;                                                 |

| ● | addition or loss of significant customers, or other developments 
 with respect to significant customers;                           |

| ● | changes in laws or regulations applicable to our services; |

| ● | actual or anticipated changes in our growth rate relative 
 to our competitors;                                       |

| ● | announcements by us or our competitors of significant acquisitions,