Serve Robotics Inc. /DE/ (SERV) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 24.89% of current shares
Recent Dilution: 89.49% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
76M
Potential Supply
19M
Additional shares possible
Splits
None
Past 2 years

Summary

SERV currently has 76.1M outstanding shares. with moderate dilution risk from 18.9M authorized shares representing 24.9% potential dilution. The company has significantly diluted shareholders by 89.49% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

S-3 filing: This S-3 filing from 2026-05-11 relates to a potential offering of common stock through an at-the-market offering.

76M 19M
May 07, 2026

10-Q filing | 75.3M shares outstanding

75M 20M
Mar 12, 2026

10-K filing | 75.7M shares outstanding

76M 19M
Nov 14, 2025

10-Q filing | 74.5M shares outstanding

74M 21M
May 08, 2025

10-Q filing | 56.3M shares outstanding

56M 39M
Mar 06, 2025

S-3 filing: The company may offer and sell common stock, preferred stock, debt securities, warrants, or rights, either individually or in units, with a total value of up to $300,000,000 from time to time.

57M 38M
Mar 06, 2025

10-K filing | 56.9M shares outstanding

57M 38M
Mar 06, 2025

POS AM filing: This prospectus relates to the registration and resale of up to 20,046,997 shares of common stock by selling stockholders.

57M 38M
Jan 07, 2025

8-K filing: Serve Robotics Inc. entered into a securities purchase agreement to issue and sell 4,210,525 shares of common stock at $19.00 per share in a registered direct offering, with gross proceeds expected to be approximately $80 million. ($80.0M proceeds)

41M 5.8M
Nov 07, 2024

10-Q filing | 40.6M shares outstanding

41M 5.8M
Sep 27, 2024

S-3 filing: The filing is an S-3 form indicating that the company may offer and sell, in one or more offerings, common stock, preferred stock, debt securities, warrants or rights, either individually or in units, with a total value of up to $200,000,000 from time to time.

42M 4.1M
Sep 05, 2024

S-3 filing: This prospectus relates to the registration and resale by the selling stockholder of up to 3,311,110 shares of common stock.

42M 4.1M
Aug 28, 2024

8-K filing: Serve Robotics Inc. entered into a Securities Purchase Agreement for a private placement offering of pre-funded warrants and common warrants, and agreed to a warrant exchange of existing warrants for new unregistered warrants, with expected gross proceeds of approximately $20 million. ($20.0M proceeds)

40M 3.5M
Aug 13, 2024

10-Q filing | 39.6M shares outstanding

40M 3.5M
Jul 31, 2024

S-1 filing: This S-1 filing registers the resale of up to 5,000,000 shares of common stock by a selling stockholder, including shares issuable upon exercise of warrants, with the company not receiving proceeds from the sale of shares by the selling stockholder but potentially from the exercise of warrants. The filing also discloses that the company's common stock is traded on Nasdaq under the ticker symbol 'SERV' and provides information about the company's outstanding shares and other securities.

37M 6.3M
Jul 23, 2024

8-K filing: Serve Robotics Inc. entered into a Securities Purchase Agreement for a private placement offering of pre-funded warrants to purchase shares of common stock and warrants exercisable for common stock, selling 2,500,000 pre-funded warrants and investor warrants to purchase up to 2,500,000 shares of common stock at a combined price of $5.9999, expecting gross proceeds of approximately $15 million. ($15.0M proceeds)

37M 1M
Jun 28, 2024

S-1/A filing: This S-1/A filing includes the offering of 4,813,041 shares of common stock by selling stockholders. It also mentions that there are 37,098,653 shares of common stock outstanding as of May 31, 2024.

37M 1M
Jun 07, 2024

S-1 filing: This S-1 filing includes an offering of 4,813,041 shares of common stock by selling stockholders and reports 37,098,653 shares of common stock outstanding as of May 31, 2024.

37M 1M
May 15, 2024

10-Q filing | 37.1M shares outstanding

37M 0
Apr 23, 2024

8-K filing: Serve Robotics Inc. issued a warrant to Aegis Capital Corp. to purchase 500,000 shares of common stock at $5.00 per share and issued Network 1 Financial Securities, Inc. a warrant to purchase 63,479 shares of common stock at $2.42 per share in connection with the public offering and the conversion of promissory notes, respectively.

27M 6.2M
Apr 18, 2024

8-K filing: Serve Robotics Inc. entered into an underwriting agreement with Aegis Capital Corp. for a public offering of 10,000,000 shares of common stock at $4.00 per share, with an option for the underwriters to purchase up to 1,500,000 additional shares. ($40.0M proceeds)

27M 6.2M
Apr 12, 2024

S-1/A filing: This is a public offering of shares of common stock by Serve Robotics Inc. offering 8,888,889 shares of their common stock (based upon the assumed public offering price of $4.50 per share, the closing price of their common stock on April 5, 2024 on the OTCQB).

27M 6.2M
Apr 09, 2024

S-1/A filing: This is a public offering of shares of common stock by Serve Robotics Inc. We are offering $40,000,000 of shares of our common stock.

27M 6.2M
Mar 11, 2024

S-1 filing: This S-1 filing is for a public offering of common stock by Serve Robotics Inc.

25M 0
Feb 29, 2024

10-K filing | 24.8M shares outstanding

25M 0
Feb 07, 2024

8-K filing: Serve Robotics Inc. issued a warrant to Magna New Mobility USA, Inc. to purchase up to 2,145,000 shares of the Company's common stock at an exercise price of $0.01 per share.

25M 0
Nov 28, 2023

S-1/A filing: This S-1/A filing relates to the offering and resale of up to 18,960,989 shares of common stock by selling stockholders.

25M 0
Nov 15, 2023

10-Q filing | 24.8M shares outstanding

25M 0
Nov 01, 2023

S-1/A filing: This S-1/A filing relates to the offering and resale by selling stockholders of up to 18,960,989 shares of common stock of Serve Robotics Inc.

25M 0
Sep 15, 2023

S-1 filing: This S-1 filing relates to the offering and resale by selling stockholders of up to 18,806,497 shares of common stock of Serve Robotics Inc.

25M 0
Jul 27, 2023

10-Q filing | 5.0M shares outstanding

5M 0
May 15, 2023

10-Q filing | 5.0M shares outstanding

5M 0
Mar 31, 2023

10-K filing | 5.0M shares outstanding

5M 0
Nov 14, 2022

10-Q filing | 5.0M shares outstanding

5M 0
Aug 15, 2022

10-Q filing | 5.0M shares outstanding

5M 0
May 16, 2022

10-Q filing | 5.0M shares outstanding

5M 0
Mar 31, 2022

10-K filing | 5.0M shares outstanding

5M 0
Nov 16, 2021

10-Q filing | 5.0M shares outstanding

5M 0
Aug 16, 2021

10-Q filing | 5.0M shares outstanding

5M 0
May 17, 2021

10-Q filing | 5.0M shares outstanding

5M 0
Apr 28, 2021

10-K filing | 5.0M shares outstanding

5M 0
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