SERV News

Serve Robotics, a developer of autonomous delivery robots spun out of Uber, raised $40 million by offering 10 million shares at $4, below the last close of its shares on the OTC ($5.30). The company offered 1.1 million more shares than anticipated. Existing shareholder Postmates agreed to purchase 1.1 million shares in the offering (11% of the deal). Originally founded as a unit...read more

Serve Robotics, a developer of autonomous delivery robots spun out of Uber, announced terms for its IPO on Tuesday. The Redwood City, CA-based company plans to raise $40 million by offering 8.9 million shares at $4.50, the April 5 close of its shares on the OTC (SBOT). At the proposed price, Serve Robotics would command a fully diluted market value of $181 million. Originally...read more

No IPOs debuted this past, as two companies previously scheduled to list (NTHI and RAN) kicked the can down the road. Seven IPOs and one SPAC submitted initial filings this week. Meanwhile, social media platform Reddit (RDDT) launched its $715 million IPO, and Peru-based healthcare firm Auna (AUNA) launched its $420 million IPO. Both are...read more

Serve Robotics, a developer of autonomous delivery robots spun out of Uber, filed on Monday with the SEC to raise up to $46 million in an initial public offering. The company is currently listed on the OTC under the symbol "SBOT." Originally founded as a unit within food delivery company Postmates, Serve Robotics is developing an AI-powered robotics mobility platform, with...read more