Company: SERV
Filing Date: 2025-10-10
Form Type: 424B5
Source: 0001213900-25-098177
Chunk: 15

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-10-10
Form: 424B5
Chunk 15
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 or substantially change our corporate structure. We might not be able to obtain any such funding or we might not have sufficient resources to conduct our business as projected, both of which could mean that we would be forced to curtail or discontinue our operations and our prospects, financial consolidated results of operations could be materially adversely affected, in which case our investors could lose some or all of their investment.

<div align='center'>S-7

USE OF PROCEEDS</div>

We estimate that the net proceeds from our issuance and sale of shares of our common stock in this offering will be approximately $94.8 million, after deducting placement agent fees and estimated offering expenses payable by us.

We intend to use the net proceeds from this offering for general corporate purposes, including for working capital, capital expenditures and general and administrative expenses.

Our expected use of the net proceeds from this offering represents our current intentions based upon our present plans and business conditions. The amounts and timing of our actual use of net proceeds will vary depending on numerous factors. As a result, our management will have broad discretion in the application of the net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds of this offering. The net proceeds of this offering may be invested temporarily until they are used for their stated purpose.

<div align='center'>DILUTION</div>

If you invest in our common stock in this offering, your ownership interest will be diluted to the extent of the difference between the public offering price per share in this offering and the as adjusted net tangible book value per share immediately after this offering.

As of June 30, 2025, our unaudited net tangible book value was $207.21
million, or $3.49 per share. We calculate net tangible book value per share by dividing our net tangible assets (total tangible assets
less total liabilities) by the number of shares of our common stock issued and outstanding.

After giving pro forma effect to (i) the issuance of 17,187 shares
of our common stock in connection with exercises of warrants since June 30, 2025; (ii) 5,374,229 shares of our common stock sold subsequent
to June 30, 2025 under our “at-the-market” equity offering program; and (iii) our sale of 6,250,000 shares of our common stock
in this offering at the public offering price of $16.00 per share, and after deducting placement agent fees and estimated offering expenses,