Company: SERV
Filing Date: 2025-01-07
Form Type: 424B5
Source: 0001213900-25-001654
Chunk: 7

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-01-07
Form: 424B5
Chunk 7
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 Apple Inc., Blue Origin, LLC, GoPro, Inc., GoDaddy Inc.
and Anki, Inc. We believe our expertise positions us to service the ever-growing on-demand delivery market, including food delivery.

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Based on our proprietary historical delivery data,
approximately half of all food delivery distances in the United States are less than 2.5 miles, making these deliveries well-suited to
delivery by sidewalk robots. We provide a robotic delivery experience that can delight customers, improve reliability for merchants and
reduce traffic congestion and vehicle emissions. Moreover, at scale with full utilization and high autonomy, we believe our robots have
the potential to reduce average delivery cost to under $1.00, lower than delivery cost by human couriers today, making on-demand delivery
more affordable and accessible in the areas in which we operate. In fact, according to a 2024 ARK Invest report, by using automation to
reduce delivery costs, the potential market for food and parcel delivery by robots and drones may grow to as much as $450 billion globally
in 2030.

Additional details of our programs are contained
in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Corporate History and Information

We were incorporated
in the State of Delaware as Patricia Acquisition Corp. on November 9, 2020. On July 31, 2023, a wholly owned merger sub merged with and
into Serve (the “Merger”). Following the Merger, Serve was the surviving entity and became our wholly-owned subsidiary, and
all of the outstanding stock of Serve was converted into shares of our Common Stock. The business of Serve became our business as a result
of the Merger. Following the consummation of the Merger, Serve changed its name to “Serve Operating Co.” and we changed our
name to “Serve Robotics Inc.”

Prior to the Merger,
Patricia Acquisition Corp. was a “shell” company registered under the Exchange Act, with no specific business plan or purpose
until it began operating the business of Serve following the closing of the Merger.

Our principal executive offices
are located at 730 Broadway, Redwood City, California 94063. Our telephone number is (818) 860-1352. Our website address is www.serverobotics.com.
Information contained on, or that can be accessed through, our website is not a part of this prospectus.

Our Annual Reports