Company: SERV
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001213900-25-024200
Chunk: 18

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-14
Form: 424B5
Chunk 18
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 will be made at the discretion of the Board and will
depend on, among other things, our results of operations, financial condition, cash requirements, contractual restrictions and other factors
that the Board may deem relevant. In addition, our ability to pay dividends may be limited by covenants of any existing and future outstanding
indebtedness we or our subsidiaries incur. We do not anticipate declaring any cash dividends to holders of our common stock in the foreseeable
future.

<div align='center'>S-10

Plan of Distribution</div>

We have entered into the Sales Agreement with the Agents on March 6,
2025, under which we may offer and sell up to $150,000,000 of shares of our common stock from time to time through or to the Agents, as
sales agents or principals. Sales of our shares of common stock, if any, under this prospectus and the accompanying base prospectus will
be made by any method that is deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act.

Each time we wish to issue and sell shares of our common stock under
the Sales Agreement, we will notify an Agent of the number of shares to be issued, the dates on which such sales are anticipated to be
made, any limitation on the number of shares to be sold in any one day and any minimum price below which sales may not be made. Once we
have so instructed an Agent, unless such Agent declines to accept the terms of such notice, each Agent has agreed to use its commercially
reasonable efforts consistent with normal trading and sales practices to sell such shares up to the amount specified on such terms. The
obligations of the Agents under the Sales Agreement to sell shares of our common stock are subject to a number of conditions that we must
meet.

The settlement of sales of shares between us and the Agents is generally
anticipated to occur on the first trading day following the date on which the sale was made. Sales of shares of our common stock as contemplated
in this prospectus will be settled through the facilities of The Depository Trust Company or by such other means as we and the Agents
may agree upon. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

We will pay the Agents a commission equal to 3.0% of the gross offering
proceeds of the shares of our common stock sold pursuant to the Sales Agreement. Because there is no minimum offering amount