Serve Robotics raises $100 million through stock offering

Serve Robotics Inc. (NASDAQ: SERV) announced it entered into securities purchase agreements with institutional investors for a registered direct offering of 6,250,000 shares of common stock, expected to generate gross proceeds of approximately $100 million.

The offering is scheduled to close on or about October 14, 2025, subject to customary closing conditions. The company plans to use net proceeds for general corporate purposes, including working capital.

Northland Capital Markets served as the sole placement agent for the transaction, while Oppenheimer & Co. Inc. and Wedbush Securities Inc. acted as capital markets advisors to the company.

The offering is conducted under an effective shelf registration statement on Form S-3, which the Securities and Exchange Commission declared effective on March 14, 2025. A final prospectus supplement and accompanying prospectus will be filed with the SEC.

Serve Robotics develops autonomous sidewalk delivery robots and was spun off from Uber in 2021. The company states it has completed over 100,000 deliveries for enterprise partners including Uber Eats and 7-Eleven, with contracts to deploy up to 2,000 delivery robots across multiple U.S. markets.

The information is based on a company press release statement.

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