Company: SERV
Filing Date: 2025-10-10
Form Type: 8-K
Source: 0001213900-25-097926
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Company: Serve Robotics Inc. /DE/
Filing Date: 2025-10-10
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into
a Material Definitive Agreement.

On October 10, 2025,
Serve Robotics Inc. (the “ Company”) entered into a securities purchase agreement (the “ Purchase Agreement”) with
certain institutional investors (the “ Purchasers”) pursuant to which the Company agreed to issue and sell, in a registered
direct offering (the “ Registered Direct Offering”) an aggregate of 6,250,000 shares (the “ Shares”) of the Company’s
common stock, $0.0001 par value per share (the “ Common Stock”) at a price of $16.00 per Share. The gross proceeds to the Company
from the Registered Direct Offering are expected to be approximately $100 million, before deducting the placement agent’s fees and
other offering expenses payable by the Company.

The Registered Direct
Offering is expected to close on October 14, 2025, subject to the satisfaction of customary closing conditions. The Company intends
to use the net proceeds from the Registered Direct Offering for general corporate purposes, including for working capital, capital expenditures
and general and administrative expenses.

The Purchase Agreement
contains representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the
Company, including for liabilities arising under the Securities Act of 1933, as amended (the “ Securities Act”), other obligations
of the parties and termination provisions. The representations, warranties and covenants contained in the Purchase Agreement were made
only for the purposes of such agreements and as of the specific dates, were solely for the benefit of the parties to such agreements and
may be subject to limitations agreed upon by the contracting parties.

Pursuant to the terms
of the Purchase Agreement, until 30 days following the closing date of the Registered Direct Offering, the Company has agreed not to (i)
issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock equivalents
or (ii) file any registration statement or any amendment or supplement thereto, other than (a) the prospectus supplement in connection
with this Registered Direct Offering, (b) any necessary filing for an Exempt Issuance (as defined in the Purchase Agreement) under applicable
law or (c) a registration statement on Form S-8 in connection with any employee benefit plan. Such restrictions do not apply to certain
Exempt Issuances (as defined in the Purchase Agreement).

In connection with the
Registered Direct