Company: SERV
Filing Date: 2025-10-10
Form Type: 424B5
Source: 0001213900-25-098177
Chunk: 16

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-10-10
Form: 424B5
Chunk 16
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our pro forma as adjusted net tangible book value as of June 30, 2025 would have been approximately $372.54 million, or $5.32 per share.
This represents an immediate increase in net tangible book value of $0.72 per share to existing stockholders and an immediate dilution
in net tangible book value of $10.68 per share to new investors purchasing shares of our common stock in this offering.

| Offering price per share of common stock                                                           |     |   |      |     | $ | 16.00 |
| Historical net tangible book value per share as of June 30, 2025                                   |     | $ | 3.49 |     |   |       |
| Increase in net tangible book value per share attributable to the Q3 Adjustment                    |     | $ | 0.72 |     |   |       |
| Increase in net tangible book value per share attributable to the offering                         |     | $ | 1.11 |     |   |       |
| Pro forma as adjusted net tangible book value per share, after the Q3 Adjustment and this offering |     |   |      |     | $ |  5.32 |
| Dilution per share to new investors                                                                |     |   |      |     | $ | 10.68 |

The foregoing calculations exclude the following shares of common stock:

| ● | the                                                                             
 issuance of 1,696,069 shares of our common stock in connection with the Merger; |

| ● | 522,964 shares of our common stock issuable upon the exercise of options                                                   
 outstanding as of June 30, 2025, at a weighted average exercise price of $0.81 per share under our equity incentive plans; |

| ● | 7,077,143 shares of our common stock issuable upon the vesting of restricted  
 stock units outstanding as of June 30, 2025 under our equity incentive plans; |

| ● | 1,096,481 shares of our common stock issuable upon the exercise of                                
 outstanding but unexercised warrants at a weighted average exercise price of $9.40 per share; and |
| ● | 1,458,408 shares of our common stock underlying options and restricted                            
 stock units outstanding under the equity incentive plans assumed in connection with the Merger.   |

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Except as otherwise indicated, all information in this prospectus supplement and the accompanying prospectus