0001213900-24-035546.txt : 20240424 0001213900-24-035546.hdr.sgml : 20240424 20240424083017 ACCESSION NUMBER: 0001213900-24-035546 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240424 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240424 DATE AS OF CHANGE: 20240424 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Serve Robotics Inc. /DE/ CENTRAL INDEX KEY: 0001832483 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 853844872 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-42023 FILM NUMBER: 24866835 BUSINESS ADDRESS: STREET 1: 730 BROADWAY CITY: REDWOOD CITY STATE: CA ZIP: 94063 BUSINESS PHONE: 818-860-1352 MAIL ADDRESS: STREET 1: 730 BROADWAY CITY: REDWOOD CITY STATE: CA ZIP: 94063 FORMER COMPANY: FORMER CONFORMED NAME: Patricia Acquisition Corp. DATE OF NAME CHANGE: 20201116 8-K 1 ea0204541-8k_server.htm CURRENT REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 24, 2024

SERVE ROBOTICS INC.

(Exact Name of Registrant as Specified in Charter)

Delaware

000-56237

85-3844872

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

730 Broadway

Redwood City, CA

94063

(Address of Principal Executive Offices)

(Zip Code)

(818) 860-1352

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		SERV		The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On April 24, 2024, Serve Robotics Inc. issued a press release announcing a development in the previously announced strategic partnership of its wholly owned subsidiary, Serve Operating Co. (“Serve”), with Magna New Mobility USA, Inc. (“Magna”), a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Pursuant to the strategic partnership, on April 24, 2024, Serve entered into a Delivery Vehicle Production Scaling and Purchase Agreement with Magna, under which Serve appointed Magna as its sole and exclusive partner for the assembly of its automated sidewalk/off-road goods delivery vehicles.

Item 9.01 Financial Statements and Exhibits.

(d) List of Exhibits.

Exhibit Number		Description

99.1		Press release, dated April 24, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Serve Robotics Inc.

Dated: April 24, 2024	/s/ Ali Kashani
	Ali Kashani
	Chief Executive Officer and Director

2

EX-99.1 2 ea020454101ex99-1_serve.htm PRESS RELEASE, DATED APRIL 24, 2024

Exhibit 99.1

Serve Robotics Enters Production Agreement with Magna
to Scale Robot Manufacturing

	●	Serve to rely on Magna’s manufacturing expertise to scale its fleet to up to 2,000 robots for Uber Eats and for geographic expansion

●

Magna has been licensing Serve’s technology to support development of new robotic products

SAN FRANCISCO, April 24, 2024 — Serve Robotics Inc. (the “Company” or “Serve”) (NASDAQ:SERV), a leading autonomous sidewalk delivery company, today announced an expansion of their existing agreement with Magna International Inc. (“Magna”) (TSX: MG; NYSE: MGA), one of the world’s largest automotive suppliers, to accelerate the adoption of robotics in logistics. Under the terms of a new production and purchase agreement effective April 24, Magna will become the exclusive contract manufacturer of Serve’s delivery robots, supporting Serve’s plan to deploy up to 2,000 robots on the Uber Eats platform across multiple U.S. markets.

This new agreement extends the partnership established by a previously disclosed licensing agreement effective February 20, 2024, under which Serve granted Magna a non-exclusive license to its market-leading technologies and expertise, enabling Magna to further develop new products in the robotics and logistics space.

“Serve is a leader in creating robots that navigate complex human environments. Following our successful public offering, we are excited to start working to scale our robotic fleet with Magna’s world-class manufacturing capabilities. This collaboration supports the natural progression of our business beyond food delivery and positions our proprietary robotics technology as a platform upon which new robots can be built. Magna is a valuable partner in this effort,” said Ali Kashani, CEO of Serve Robotics.

“Magna is excited to continue collaborating with Serve, leveraging our manufacturing and technical expertise to help fuel Serve’s growth potential,” said Matteo Del Sorbo, Executive Vice President of Magna, responsible for New Mobility globally.

About Serve Robotics

Backed by Uber and NVIDIA, Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

For further information about Serve Robotics (NASDAQ:SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.

Serve Contact

Aduke Thelwell

Head of Communications & Investor Relations

Serve Robotics

aduke.thelwell@serverobotics.com

347-464-8510

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Cover	Apr. 24, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Apr. 24, 2024
Entity File Number	000-56237
Entity Registrant Name	SERVE ROBOTICS INC.
Entity Central Index Key	0001832483
Entity Tax Identification Number	85-3844872
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	730 Broadway
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94063
City Area Code	(818)
Local Phone Number	860-1352
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	SERV
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

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