Serve Robotics Inc. (SERV) became one of the top ten trending tickers on Stocktwits after the company announced it had entered into securities purchase agreements with certain institutional investors for the purchase and sale of 6.25 million shares of common stock. Following the announcement, the stock tumbled over 8% in Friday's pre-market session.

The company said this was pursuant to a registered direct offering and is expected to result in gross proceeds of about $100 million. Serve said it intends to use net proceeds from the offering for general corporate purposes, including working capital.

Retail sentiment on Serve remained unchanged in the 'extremely bullish' territory compared to a day ago, with message volumes at 'extremely high' levels, according to data from Stocktwits.

Serve said that the offering is expected to close on or about Oct. 14, 2025. Serve Robotics is known for developing advanced, AI-powered, low-emissions sidewalk delivery robots. The company was spun off from Uber in 2021 as an independent firm and has completed over 100,000 deliveries for enterprise partners such as Uber Eats and 7-Eleven.

On Thursday, Serve's stock closed up nearly 29% after the company and DoorDash (DASH) announced a long-term partnership as an attempt to expand robotic deliveries across the U.S. The companies said that customers in Los Angeles who order from select local merchants through the DoorDash app may receive their orders through a Serve robot.

Shares of Serve have jumped nearly 31% this year and have gained 104% in the last 12 months. 

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