Company: SERV
Filing Date: 2025-03-06
Form Type: S-3
Source: 0001213900-25-021234
Chunk: 57

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: S-3
Chunk 57
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 this offering.

Future sales of equity could result in dilution to our existing stockholders.

In order to raise additional capital, we may in the future offer
additional shares of our common stock or other securities convertible into or exchangeable for our common stock at prices that may
not be the same as the price per share in this offering. We may sell shares or other securities in any other offering at a price per
share that is less than the price per share paid by any investors in this offering, and investors purchasing shares or other
securities in the future could have rights superior to existing stockholders. The price per share at which we sell additional shares
of our common stock, or securities convertible or exchangeable into our common stock, in future transactions may be higher or lower
than the price per share paid by any investors in this offering.

<div align='center'>S-5</div>

It is not possible to predict the number of shares that will be issued or the aggregate proceeds resulting from sales made under the Sales Agreement.

Subject to certain limitations in the Sales Agreement and compliance
with applicable law, we have the discretion to deliver a placement notice to the Agent at any time throughout the term of the Sales Agreement.
The number of shares that are sold through the Agent after delivering a placement notice will fluctuate based on a number of factors,
including the market price of our common stock during the sales period, any limits we may set with the Agent in any applicable placement
notice, and the demand for our common stock. Because the price per share of each share sold pursuant to the Sales Agreement will fluctuate
over time, it is not currently possible to predict the number of shares that will be sold or the aggregate proceeds to be raised in connection
with sales under the Sales Agreement.

The common stock offered hereby will be sold in “at the market offerings,” and investors who buy shares at different times will likely pay different prices.

Investors who purchase shares in this offering at different times will
likely pay different prices, and accordingly may experience different levels of dilution and different outcomes in their investment results.
We will have discretion, subject to market demand, to vary the timing, prices, and number of shares sold in this offering. In addition,
subject to the final determination by our Board of Directors or any restrictions we may place in any applicable placement notice delivered
to the Agent, there is no minimum or maximum sales price for shares to be sold in this offering. Investors may experience a decline in
the value of the shares they purchase