Company: SERV
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001213900-25-024200
Chunk: 19

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-14
Form: 424B5
Chunk 19
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 required
as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable
at this time. In addition, we have agreed in the Sales Agreement to reimburse the Agents for the fees and disbursements of its counsel
incurred in connection with the offering contemplated by the Sales Agreement, including any review and qualification by FINRA, in an amount
not to exceed $75,000 through the fourth business day following execution of the Sales Agreement, in addition to an amount up to $25,000
for each quarterly period thereafter. TCBI Securities, Inc., doing business as Texas Capital Securities (“TCBI”), is acting
as our financial advisor in connection with this offering, for which we will pay TCBI 8,500 unregistered shares of our common stock. We
estimate that the total expenses for the offering, excluding any commissions or expense reimbursement payable to the Agents under the
terms of the Sale Agreement and exclusive of the fee paid to TCBI, will be approximately $95,000. The remaining sale proceeds, after deducting
any other transaction fees, will equal our net proceeds from the sale of such shares.

The Agents will provide written confirmation to us following the close
of trading on Nasdaq each day in which shares of our common stock are sold under the Sales Agreement setting forth (i) the amount sold
on such day, (ii) the price or prices at which such shares were sold on such day, (iii) the gross offering proceeds received from such
sale, (iv) the net proceeds to the Company and (v) the commission payable by the Company to the Agents with respect to such sales.

In connection with the sale of shares of our common stock on our behalf,
the Agents will be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation of the Agents
will be deemed to be underwriting commissions or discounts. We have agreed to indemnify the Agents against certain civil liabilities,
including liabilities under the Securities Act. We have also agreed to contribute to payments the Agents may be required to make in respect
of such liabilities.

The offering of shares of our common stock pursuant to the Sales Agreement
will terminate upon the earlier of (i) the sale of all shares of our common stock subject to the Sales Agreement and (ii) the termination
of the Sales Agreement as permitted therein. We and the Agents may each terminate the Sales Agreement at any time upon five days’