Press Release: Serve Robotics Announces Third Quarter 2024 Results

 to                                                17,115,963              - 
Proceeds from exercise of warrants                 16,324,832              - 
Proceeds from convertible notes payable             4,844,625      2,798,410 
Proceeds from exercise of options                      86,755              - 
Proceeds from note payable, net of offering 
 costs                                                      -        750,000 
Repayments of note payable                        (1,250,000)    (1,500,000) 
Proceeds from note payable, related party                   -        449,000 
Repayments of notes payable, related party           (70,000)      (449,000) 
Issuance of common stock pursuant to Merger, 
 net of                                                     -     10,026,258 
Proceeds from simple agreement for future 
 equity                                                     -      2,666,953 
Repayment of lease liability financing            (1,321,714)    (1,658,359) 
                                                -------------  ------------- 
    Net cash provided by financing activities      71,579,597     13,083,262 
                                                -------------  ------------- 
Net change in cash and cash equivalents            50,906,377        786,421 
Cash and cash equivalents at beginning of 
 period                                                 6,756      2,715,719 
                                                -------------  ------------- 
Cash and cash equivalents at end of period        $50,913,133     $3,502,140 
                                                =============  ============= 
 
 

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SOURCE Serve Robotics Inc.

(END) Dow Jones Newswires

November 07, 2024 16:10 ET (21:10 GMT)