Company: SERV
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001832483-25-000010
Chunk: 136

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 136
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20,097 - Operating lease liabilities, net45,938 (49,656)Net cash used in operating activities(21,542,229)(15,970,878)Cash flows from investing activities:  Purchase of property and equipment(10,252,409)(4,914)Security deposits(65,578)— Net cash used in investing activities(10,317,987)(4,914)Cash flows from financing activities:  Proceeds from issuance of common stock pursuant to public offering, net of offering costs35,849,136 — Proceeds from issuance of prefunded warrants to purchase common stock in connection with private placement, net of issuance costs17,115,963 — Proceeds from issuance of common stock under the Sales Agreement and Equity Distribution Agreement, net of offering costs77,595,993 — Proceeds from exercise of warrants22,448,841 — Proceeds from convertible notes payable, net of offering costs4,844,625 2,798,410 Proceeds from exercise of options367,297 — Proceeds from note payable— 750,000 Repayments of note payable(1,250,000)(1,750,000)Proceeds from note payable, related party— 519,000 Repayments of notes payable, related party(70,000)(449,000)Issuance of restricted common stock, net of repurchases— (3)Issuance of common stock pursuant to Merger and private placement, net of offering cost— 10,444,987 Proceeds from simple agreement for future equity— 2,666,953 Repayment of financing lease liability(1,781,958)(1,713,518)Net cash provided by financing activities155,119,897 13,266,829 Net change in cash and cash equivalents123,259,681 (2,708,963)Cash and cash equivalents at beginning of year6,756 2,715,719 Cash and cash equivalents at end of year$123,266,437 $6,756 Supplemental disclosure of cash flow information:Cash paid for income taxes$— $— Cash paid for interest$202,785 $507,193 Supplemental disclosure of non-cash investing and financing activities:Conversion of convertible notes and derivative into common stock$6,803,600 $3,751,875 P