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AINewsBreaks – Serve Robotics Inc. (NASDAQ: SERV) Closes on $15M Private Placement

July 25, 2024 at 14:09 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Serve Robotics (NASDAQ: SERV), a leading autonomous sidewalk delivery company, recently announced the closing of a private placement with a single institutional investor. The transaction included the purchase and sale of pre-funded warrants to purchase 2,500,000 shares of the company’s common stock at a purchase price of $6.00 per unit along with warrants to purchase up to an aggregate of 2,500,000 shares of common stock at an exercise price of $6.00 per unit. The offering closed on July 24, 2024, raising approximately $15.0 million in gross proceeds before deductions. Aegis Capital Corp. acted as the exclusive placement agent for the offering.

To view the full press release, visit https://ibn.fm/9tOvr

About Serve Robotics Inc.

Backed by Uber and NVIDIA, Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. The company has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets. For more information, please visit www.serverobotics.com.

About AINewsWire

AINewsWire (“AINW”) is a specialized communications platform with a focus on the latest advancements in artificial intelligence (“AI”), including the technologies, trends and trailblazers driving innovation forward. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, AINW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, AINW brings its clients unparalleled recognition and brand awareness.

AINW is where breaking news, insightful content and actionable information converge.

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