Company: SERV
Filing Date: 2025-03-06
Form Type: S-3
Source: 0001213900-25-021234
Chunk: 13

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: S-3
Chunk 13
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 capital needs. We expect from time to time to evaluate the acquisition
of businesses, products and technologies for which a portion of the net proceeds may be used, although we currently are not planning or
negotiating any such transactions. Pending such uses, we may invest the net proceeds in investment grade interest-bearing securities.

The amounts actually expended for each purpose
may vary significantly depending upon numerous factors, including the amount and timing of the proceeds from this offering and progress
with the commercial development of our products as well as our clinical development programs and product candidates. Expenditures will
also depend upon the establishment of collaborative arrangements with other companies, the availability of additional financing and other
factors. As a result, unless otherwise indicated in a prospectus supplement, our management will have broad discretion to allocate the
net proceeds we receive from the sale of the securities offered by this base prospectus, and from the exercise price from the exercise
of any convertible securities, if any, and investors will be relying on the judgment of our management regarding the application of the
net proceeds. Investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of securities.

<div align='center'>6

DESCRIPTION OF CAPITAL STOCK</div>

The following description summarizes the most important
terms of our capital stock. Because it is only a summary, it does not contain all the information that may be important to you and the
descriptions herein are qualified by reference to our amended and restated certificate of incorporation and amended and restated bylaws.
For a complete description, you should refer to our amended and restated certificate of incorporation and amended and restated bylaws
and to the applicable provisions of Delaware law.

We have authorized capital stock consisting of
300,000,000 shares of common stock, par value $0.0001 per share, and 10,000,000 shares of preferred stock, par value $0.0001 per share.

As of March 4, 2025, we had 56,918,226 shares of
common stock outstanding, and no shares of preferred stock issued and outstanding. Unless stated otherwise, the following discussion summarizes
the term and provisions of our amended and restated certificate of incorporation and our amended and restated bylaws.

Common Stock

Dividend Rights

Subject to applicable law and the rights and preferences,
if any, of any holders of any outstanding series of preferred stock, the holders of our common stock are entitled to receive dividends
if our board of directors