Serve Robotics priced its public offering of 10M shares of common stock at a price to the public of $4.00 per share, for aggregate gross proceeds of $40M. The offering includes the participation of one of Serve’s largest stockholders and strategic partners, Postmates, a wholly-owned subsidiary of Uber Technologies (UBER). Serve trades on the Nasdaq under the symbol “SERV.” Aegis Capital is acting as the sole book-running manager for the offering. Serve Robotics develops sidewalk delivery robots “that endeavor to make delivery sustainable and economical.” Serve was spun from Uber in 2021 as an independent company.
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