Serve Robotics Announces $15 Million Private Placement for Growth
Tuesday, 23 July 2024, 13:12
Serve Robotics Inc. Funding Announcement
Serve Robotics Inc. ("Serve") (Nasdaq: SERV) is a notable player in the field of autonomous delivery robotics. Recently, the company has announced a significant development regarding its financial strategy.
Details of the Private Placement
- Serve has entered into a securities purchase agreement with an institutional investor.
- The agreement entails the sale of pre-funded warrants for the purchase of 2,500,000 shares of Serve's common stock.
- Additionally, it includes warrants to buy up to another 2,500,000 shares at an exercise price of $6.00 per share.
Conclusion
This funding is expected to bolster Serve's position in the rapidly evolving robotics market, allowing for accelerated growth and innovation.
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