Summary by Moomoo AI
Uber Technologies, Inc. has filed an amended Schedule 13D with the Securities and Exchange Commission on May 8, 2024, indicating a significant investment in Serve Robotics Inc. Uber, through its wholly-owned subsidiary Postmates, LLC, now beneficially owns 5,298,833 shares of Serve Robotics' common stock, representing approximately 15.2% of the company. This ownership stake was calculated based on the total number of shares outstanding after Serve Robotics' recent public offering of 10 million additional shares at $4.00 per share, which closed on April 22, 2024. Uber's investment in Serve Robotics began with the contribution of intellectual property and assets in February 2021, followed by a minority equity interest acquisition. Uber's Vice President for Delivery and Head of Americas, Sarfraz Maredia, also serves on Serve Robotics' board of directors. The filing outlines Uber's potential future plans regarding its investment, which may include acquiring additional securities, proposing extraordinary transactions such as a merger, or disposing of its shares. The filing also details the conversion of a Convertible Promissory Note, resulting in Uber receiving an additional 210,025 shares of Serve Robotics.