Serve Robotics (SERV), an autonomous sidewalk delivery company, announced the pricing of its underwritten public offering of 10,000,000 shares of common stock at a price to the public of $4.00 per share, for aggregate gross proceeds of $40 million, prior to deducting underwriting discounts and offering expenses. The offering includes the participation of one of Serve’s largest stockholders and strategic partners, Postmates, LLC, a wholly-owned subsidiary of Uber Technologies Inc (UBER). Serve plans to use net proceeds from the offering to fund research and development of the next generations of Serve’s robots, manufacturing activities, geographic expansion, and for working capital and other general corporate purposes. Aegis Capital Corp. is acting as the sole book-running manager for the offering.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UBER:
- GRAB, ZS, SONO: Which “Strong Buy” Tech Stock Is the Better Buy?
- DoorDash price target raised to $155 from $140 at Deutsche Bank
- Amazon remains best internet idea at JPMorgan into earnings
- General Motors (NYSE:GM) Takes Cautious Approach to Revive Self-Driving Unit
- Unusually active option classes on open April 8th