Serve Robotics Inc. /DE/ 8-K

What Happened

• Serve Robotics Inc. announced on May 7, 2026 that it and its sales agents agreed to terminate the Controlled Equity OfferingSM Agreement (the company’s “ATM”) dated March 6, 2025, effective May 7, 2026. Under that prior agreement the company could sell up to $150.0 million of common stock; through the termination date it sold 7,716,935 shares for gross proceeds of approximately $91.2 million. The company stated there are no termination penalties and it will make no further sales under that prospectus supplement.
• The company also reported (via an amendment filed April 14, 2026 to an earlier 8-K) that it completed the acquisition of Diligent Robotics, Inc. on January 27, 2026 pursuant to the January 19, 2026 Agreement and Plan of Merger. (The April 14 filing amended the Original 8-K that reported the closing.)

Key Details

• ATM termination effective date: May 7, 2026.
• Original ATM capacity: up to $150.0 million; shares sold under ATM: 7,716,935.
• Gross proceeds raised under ATM through termination: approximately $91.2 million.
• Diligent Robotics acquisition closing date: January 27, 2026; merger agreement dated January 19, 2026; Amendment No. 1 to the Original 8-K filed April 14, 2026.

Why It Matters

• Terminating the ATM removes an available, flexible source of equity financing that the company had been using to raise capital on an as-needed basis. Investors should note Serve has already raised roughly $91.2M under that program but no further shares will be sold under it unless a new arrangement is announced. The filing states there are no termination penalties, so this action does not create a direct cash cost.
• The amended 8-K confirms the earlier disclosure that Serve completed its acquisition of Diligent Robotics, which is a material corporate event; investors should watch for any follow-up disclosures on integration, financial impacts or related filings.