Company: SERV
Filing Date: 2025-03-06
Form Type: S-3
Source: 0001213900-25-021234
Chunk: 63

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: S-3
Chunk 63
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4. As
of March 4, 2025, there were 56,918,226 shares of our common stock outstanding, and, assuming the sale of 17,857,143 shares of our common
stock in this offering at an offering price of $8.40 per share, there will be approximately 74,775,369 shares of our common stock outstanding.
The actual number of shares of our common stock issued will vary depending on the sale price under this offering.

To the extent that other shares of our common stock are issued, investors
purchasing shares of our common stock in this offering could experience further dilution. In addition, we may choose to raise additional
capital due to market conditions or strategic considerations, even if we believe we have sufficient funds for our current or future operating
plans.

<div align='center'>S-9

Dividend Policy</div>

We have not paid any cash dividends on our common stock to date. We
may retain future earnings, if any, for future operations, expansion and debt repayment and have no current plans to pay cash dividends
for the foreseeable future. Any decision to declare and pay dividends in the future will be made at the discretion of the Board and will
depend on, among other things, our results of operations, financial condition, cash requirements, contractual restrictions and other factors
that the Board may deem relevant. In addition, our ability to pay dividends may be limited by covenants of any existing and future outstanding
indebtedness we or our subsidiaries incur. We do not anticipate declaring any cash dividends to holders of our common stock in the foreseeable
future.

<div align='center'>S-10

Plan of Distribution</div>

We have entered into the Sales Agreement with the Agents on March 6,
2025, under which we may offer and sell up to $150,000,000 of shares of our common stock from time to time through or to the Agents, as
sales agents or principals. Sales of our shares of common stock, if any, under this prospectus and the accompanying base prospectus will
be made by any method that is deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act.

Each time we wish to issue and sell shares of our common stock under
the Sales Agreement, we will notify an Agent of the number of shares to be issued, the dates on which such sales are anticipated to be
made, any limitation on the number of