Company: SERV
Filing Date: 2025-03-06
Form Type: S-3
Source: 0001213900-25-021234
Chunk: 55

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: S-3
Chunk 55
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 to proprietary rights, including patents, litigation matters, and our ability to obtain intellectual property protection for our technologies; |

| ● | announcement or expectation of additional financing efforts; |

| ● | sales of our common stock by us or our stockholders; |

| ● | share price and volume fluctuations attributable to inconsistent trading volume levels of our shares; |

| ● | dilution resulting from this offering and future sales of equity; |

| ● | our ability to obtain sufficient funding or access capital; and |

| ● | general domestic and international economic and market conditions. |

Furthermore, the stock markets have experienced price and volume fluctuations
that have affected and continue to affect the market prices of equity securities of many companies. These fluctuations often have been
unrelated or disproportionate to the operating performance of those companies. These broad market and industry fluctuations, as well as
general economic, political and market conditions such as recessions, interest rate changes or international currency fluctuations, may
negatively impact the market price of our common stock. If the market price of our common stock after this offering does not exceed the
public offering price, you may not realize any return on your investment in us and may lose some or all of your investment. In the past,
companies that have experienced volatility in the market price of their stock have been subject to securities class action litigation.
We may be the target of this type of litigation in the future. Securities litigation against us could result in substantial costs and
divert our management’s attention from other business concerns, which could seriously harm our business.

<div align='center'>S-4</div>

We will have broad discretion in the use of the net proceeds from this offering and may not use them effectively.

Our management will have broad discretion in the application of the
net proceeds from this offering, including for any of the purposes described in the section titled “Use of Proceeds,” as well
as our existing cash and cash equivalents, and you will be relying on the judgment of our management regarding such application. Accordingly,
you will have to rely upon the judgment of our management with respect to the use of the proceeds, with only limited information concerning
management’s specific intentions. You will not have the opportunity, as part of your investment decision, to assess whether the
net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds
from this offering, their ultimate use may vary substantially from their currently intended use. Our management might not apply the net
proceeds