Company: SERV
Filing Date: 2025-01-07
Form Type: 424B5
Source: 0001213900-25-001654
Chunk: 14

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-01-07
Form: 424B5
Chunk 14
---

holdings in us. In addition, after giving effect to the issuance of common stock in this offering, the receipt of the expected net
proceeds and the use of those proceeds, the issuance of such shares in this offering will have a dilutive effect on our expected
earnings per share.

<div align='center'>S-6</div>

If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.

The trading market for our
common stock may depend in part on the research and reports that securities or industry analysts publish about us or our business. If
too few securities or industry analysts cover our company, the trading price for our common stock would likely be negatively impacted.
If one or more of the analysts who cover us downgrade our common stock or publish research about our business that is unfavorable or based
on stale projections or other information or otherwise inaccurate, our share price would likely decline. If one or more of these analysts
cease coverage of our company or fail to publish reports on us regularly, demand for our common stock could decrease, which might cause
our share price and trading volume to decline.

Our stock price may decline if our financial performance does not meet the guidance we have provided to the public, estimates published by research analysts or other investor expectations.

The guidance we provide
as to our expected revenue is only an estimate of what we believe is realizable at the time we give such guidance. It is difficult
to predict our revenue and our actual results may vary materially from our guidance. We may not meet our financial guidance or other
investor expectations for other reasons, including those arising from the risks and uncertainties described in this prospectus
supplement and in our other public filings and public statements. Furthermore, research analysts publish estimates of our future
revenue and earnings based on their own analysis. The revenue guidance we provide may be one factor they consider when determining
their estimates.

Our current business plans require a significant amount of capital. If we are unable to obtain sufficient funding or do not have access to capital, we may not be able to execute our business plans and our prospects, financial condition and results of operations could be materially adversely affected.

In addition to the net proceeds
received from this offering, we expect to continue to seek other sources of funding, including by offering additional equity and/or equity-linked
securities through one or more credit facilities and potentially by offering debt securities to finance a portion of our future expenditures.
We have