Company: SERV
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001213900-25-024200
Chunk: 10

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-14
Form: 424B5
Chunk 10
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 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.

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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 or our existing cash in ways that ultimately increase the value of your investment. If we do not invest or apply the net proceeds
from this offering or our existing cash and cash equivalents in ways that enhance stockholder value, we may fail to achieve expected business
and financial results, which could cause our stock price to decline. Pending their use, we may invest the net proceeds from this offering
in short-term, investment-grade, interest-bearing securities. These investments may not yield a favorable return to our stockholders.

Sale of our common stock by existing stockholders, or the perception that these sales may occur, especially by our directors, executive officers or significant stockholders, may cause our stock price to decline.

If our existing stockholders, in particular our directors, executive
officers or other affiliates, sell substantial amounts of our common stock in the public market, or are perceived by the public market
as intending to sell, the trading price of our common stock could decline. In addition, sales of these shares of our common stock could
impair our ability to raise capital, should we wish to do so. We cannot predict the timing or amount of future sales of our common stock