Company: SERV
Filing Date: 2025-03-06
Form Type: S-3
Source: 0001213900-25-021234
Chunk: 65

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: S-3
Chunk 65
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 the Sales Agreement setting forth (i) the amount sold
on such day, (ii) the price or prices at which such shares were sold on such day, (iii) the gross offering proceeds received from such
sale, (iv) the net proceeds to the Company and (v) the commission payable by the Company to the Agents with respect to such sales.

In connection with the sale of shares of our common stock on our behalf,
the Agents will be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation of the Agents
will be deemed to be underwriting commissions or discounts. We have agreed to indemnify the Agents against certain civil liabilities,
including liabilities under the Securities Act. We have also agreed to contribute to payments the Agents may be required to make in respect
of such liabilities.

The offering of shares of our common stock pursuant to the Sales Agreement
will terminate upon the earlier of (i) the sale of all shares of our common stock subject to the Sales Agreement and (ii) the termination
of the Sales Agreement as permitted therein. We and the Agents may each terminate the Sales Agreement at any time upon five days’
notice.

This summary of the material provisions of the Sales Agreement does
not purport to be a complete statement of its terms and conditions. A copy of the Sales Agreement will be filed as an exhibit to a current
report on Form 8-K filed under the Exchange Act and incorporated by reference in this prospectus.

The Agents and their affiliates may in the future provide various investment
banking, commercial banking, financial advisory and other financial services for us and our affiliates, for which services they may in
the future receive customary fees. In the course of their business, the Agents may actively trade our securities for its own account or
for the accounts of customers, and, accordingly, the Agents may at any time hold long or short positions in such securities.

A prospectus and the accompanying base prospectus
in electronic format may be made available on a website maintained by the Agents, and the Agents may distribute the prospectus and the
accompanying base prospectus electronically.

<div align='center'>S-11

Legal Matters</div>

The validity of the shares of our common stock offered by this prospectus
will be passed upon for the Company by Orrick, Herrington & Sutcliffe LLP, Boston, Massachusetts. Duane Morris LLP, New York, New
York, is acting as counsel for the Agents in connection with this offering