Technology

Serve Robotics Announces Pricing of $15.0 Million Private Placement

Published

2 years ago

July 23, 2024

SAN FRANCISCO, July 23, 2024 /PRNewswire/ — Serve Robotics Inc. (“Serve”) (Nasdaq: SERV), a leading autonomous delivery robotics company, today announced that it has entered into a securities purchase agreement with a single institutional investor for the purchase and sale, in a private placement, of pre-funded warrants to purchase 2,500,000 shares of Serve’s common stock (the “Common Stock”), together with a warrants to purchase up to an aggregate of 2,500,000 shares of Common Stock at an exercise price of $6.00 per share. Each pre-funded warrant to purchase one share of Common Stock together with one $6.00 warrant to purchase one share of Common Stock is being sold at a purchase price of $6.00. The $6.00 warrants will have, will be exercisable upon issuance, and will expire five and a half years from the date of issuance.

Aegis Capital Corp. is acting as the exclusive placement agent for the offering. Orrick, Herrington & Sutcliffe LLP served as counsel to the Company and Sichenzia Ross Ference Carmel LLP served as counsel to Aegis Capital Corp. for the private placement.

The offering is expected to close on or about July 24, 2024, subject to satisfaction of customary closing conditions. The gross proceeds to Serve Robotics from this offering are expected to be approximately $15.0 million, before deducting placement agent fees and other offering expenses.

The securities described above are being sold in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”), and have not been registered under the Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws. Pursuant to a registration rights agreement with the investor, the Company has agreed to file one or more registration statements with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of Common Stock sold in the private placement and the shares of Common Stock issuable upon exercise of the pre-funded warrants and the warrants sold in the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Serve Robotics

Backed by Uber and NVIDIA, Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.

Safe Harbor Forward-Looking Statements

This press release of Serve Robotics, Inc. contains “forward-looking statements”. Words such as “may”, “will”, “could”, “should”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” and other comparable terminology are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses its vision, its strategy, and its products. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there could be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking statements except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statement, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.

Contacts

Aduke Thelwell
Head of Communications
Serve Robotics
aduke.thelwell@serverobotics.com
347.464.8510

CORE IR
investor.relations@serverobotics.com

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SOURCE Serve Robotics Inc.

Technology

Eddid Financial Honored with “Professional Services Award in RWA” by HKCT Highlighting its Leading Edge in Web3 and Digital Assets

Published

43 minutes ago

May 4, 2026

HONG KONG, May 4, 2026 /PRNewswire/ — Eddid Financial (the “Group”) has won the “Professional Services Award in RWA” at the HKCT Business Awards, hosted by the Hong Kong Commercial Times. The award recognizes the Group’s exceptional professional service capabilities and innovative achievements in the Real-World Assets Tokenisation (“RWA”) sector. This prestigious honor serves as a strong industry endorsement of the Group’s dedicated efforts in the RWA space, affirming its leadership in bridging traditional and digital finance while injecting significant momentum into Hong Kong’s digital asset market.

The HKCT Business Awards evaluates candidates based on four core criteria: corporate achievements, market competitiveness, brand philosophy, and professional standing. As one of the most credible and influential business awards in Hong Kong, it aims to recognize outstanding enterprises across various sectors for their performance over the past year, encouraging companies to continuously enhance their core competitiveness and pioneer innovative economic directions. During this year’s selection process, the judging panel conducted a comprehensive assessment of Eddid Financial’s compliance infrastructure, innovative services, and industry contributions within the RWA sector, highly commending the Group’s professional strength and forward-looking vision in asset tokenisation.

Compliance-Driven: Building a Full-Chain Service Ecosystem

As a licensed pioneer in Hong Kong’s RWA landscape, Eddid Financial has consistently relied on compliance as its foundation and innovation as its driving force. Having deeply cultivated the digital asset space for years, the Group has established a full-chain professional service ecosystem that encompasses asset screening, product design, compliance auditing, and distribution operations. Eddid Securities and Futures, a subsidiary of the Group, became one of the first brokerages in Hong Kong to upgrade its licenses in September 2023. It subsequently secured further upgrades for its Type 1 and Type 9 regulated activity licenses, making it one of the few institutions authorized to distribute tokenised securities and RWA products. This regulatory milestone has laid a solid, compliant foundation for the Group’s RWA business operations.

Successful Launch of Landmark Precious Metal RWA Projects

In terms of practical application, Eddid Financial has actively spearheaded the launch of several landmark RWA projects, setting a new benchmark for the industry. Notably, the Group partnered with Timeless Resources Holdings Limited (8028.HK) and HashKey Chain to introduce Hong Kong’s first silver RWA project. By leveraging blockchain technology to tokenise physical silver assets, each digital coin is backed 1:1 by one ounce of physical silver, strictly held by an independent trustee. This initiative not only lowers the barrier to entry for precious metal investments but also enhances asset liquidity. The project’s product design and issuance framework received a “no further comment” reply from the Hong Kong Securities and Futures Commission (SFC), demonstrating the highest standard of compliance.

Concurrently, the Group has collaborated with CAC Fintech to advance China’s first agricultural RWA project. By converting agricultural products, land management rights, and future agricultural revenue rights into on-chain digital certificates, this project addresses critical pain points such as poor liquidity and low financing efficiency in agricultural assets. Furthermore, it supports the national rural revitalization strategy and explores novel pathways for the innovative integration of agricultural assets with financial markets.

Leading the Upgrade of the Regional RWA Industry

Beyond launching landmark projects, Eddid Financial continues to drive the ecosystem construction and market development of the RWA sector. The Group’s research department published the “Core Guide to RWA: From Basic Theory to Global Practice,” sharing its leading experience in asset tokenisation to help establish industry standards. Simultaneously, the Group has built a tripartite development model encompassing “Technology + Compliance + Ecosystem”. Internally, it has assembled a dedicated fintech team to advance underlying technologies; externally, it connects core stakeholders, including asset holders, investors, and licensed exchanges, to form a comprehensive RWA service ecosystem that provides clients with all-encompassing, one-stop professional services.

Looking ahead, Eddid Financial will continue to leverage its comprehensive licensing advantages, expert service teams, and robust technical support to drive the digital transformation of a diverse range of real-world assets. The Group is committed to delivering highly flexible, efficient, and compliant RWA services to its clients while actively supporting the standardized and international development of Hong Kong’s digital asset market, thereby cementing Hong Kong’s status as a premier global digital finance hub.

View original content:https://www.prnewswire.com/apac/news-releases/eddid-financial-honored-with-professional-services-award-in-rwa-by-hkct-highlighting-its-leading-edge-in-web3-and-digital-assets-302760892.html

SOURCE Eddid Financial

Technology

Elevate Appoints Wade Clark as Chief Growth Officer

Published

43 minutes ago

May 4, 2026

Industry veteran to lead organic growth strategy across Elevate’s national platform

LOS ANGELES, May 3, 2026 /PRNewswire/ — Elevate, a national operator-led accounting and advisory platform, today announced the appointment of Wade Clark as Chief Growth Officer. Clark brings more than 30 years of experience building and leading sales organizations at top U.S. accounting and consulting firms, including Moss Adams (now Baker Tilly), BKD (now Forvis Mazars), Carr Riggs & Ingram, BDO USA, and Ernst & Young.

In this role, Clark will lead organic growth across Elevate’s partner firms, building a unified, data-driven growth function that complements the platform’s active M&A strategy and deepens advisory relationships firmwide.

Most recently, Clark spent nine years at Moss Adams, where he built and scaled the sales coaching function supporting 1,000+ partners, directors, and senior managers across 45 practices in a $1.3 billion firm. Earlier, as Chief Growth Officer at Carr Riggs & Ingram, he built the firm’s first growth function and helped drive revenue from $70 million to $100 million in three years. At BKD, he played a central role in the firm’s expansion from $190 million to $400 million, primarily through organic growth. He is the author of Meaningful Success in Business as well as Simplifying Complex Sales, reviewed by Accounting Today as one of the best books on selling professional services.

“Wade has built and led growth organizations at scale, and he knows what it takes to drive consistent, measurable results across a distributed partnership,” said Sanjay Agarwal, CEO and Founder of Elevate. “As we continue to execute on both M&A and organic growth, Wade’s ability to bring structure, accountability, and rigor to revenue generation will be a meaningful differentiator for our partner firms and their clients.”

“What attracted me to Elevate is the clarity of vision and the commitment to building a true operating platform — not just a collection of firms,” said Clark. “The opportunity to architect a scalable growth engine across a national footprint, alongside partner firms who are already leaders in their markets, is incredibly compelling.”

Clark is based in Houston, Texas, and holds a Bachelor of Business Administration in Marketing from Texas A&M University.

About Elevate

Elevate is a national accounting and advisory platform built by operators. The firm partners with leading CPA firms to provide the technology, infrastructure, and strategic support needed to drive sustainable growth, enhance client service, and unlock long-term value. Elevate’s operator-led model preserves firm autonomy while delivering the scale, talent, and technology of a unified platform.

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SOURCE Elevate LLC

Technology

Meiyume (Group) LTD Achieves EcoVadis Gold Rating for 2026, Reinforcing Commitment to Sustainable Beauty

Published

2 hours ago

May 4, 2026

HONG KONG, May 4, 2026 /PRNewswire/ — Meiyume (Group) LTD has achieved the EcoVadis Gold rating for 2026, with the company being in the 96th percentile globally and among the top-performing companies for sustainability.

EcoVadis evaluates companies across environment, labour and human rights, ethics, and sustainable procurement. The Gold rating reflects Meiyume’s strong performance and continued commitment to embedding sustainability across its supply chain.

A supplier’s commitment to sustainability is increasingly important to brands, as they work to meet rising regulatory requirements and evolving consumer expectations for transparency and responsible practices. In this landscape, choosing the right partners is essential. Partners like Meiyume play a key role in enabling more responsible, future-ready solutions while helping to strengthen sustainability standards across the supply chain.

A Holistic Sustainability Strategy: Meiyume’s 5Ps Framework

Meiyume’s sustainability approach is guided by its 5Ps framework: Product, Process, Places, People, and Principle, ensuring a comprehensive integration across the business:

Product – Advancing sustainable innovation in formulations and packaging

Process – Strengthening responsible sourcing and supply chain practices

Places – Enhancing operational efficiency and environmental performance

People – Fostering an inclusive and supportive workplace

Principle – Upholding strong governance and compliance standards

Sustainability as an Ongoing Journey

While the EcoVadis Gold rating marks an important milestone, Meiyume views sustainability as an ongoing journey. The company remains committed to strengthening its sustainability performance and supporting beauty and personal care brands in achieving their sustainability goals.

About Meiyume:

Formerly LF Beauty, Meiyume offers end-to-end beauty solutions—packaging, ODM, OEM —grounded in sustainability and insights. Powered by it’s Beauty Intelligence Platform and a global sourcing network, Meiyume brings visions to life with agility, intelligence, and responsibility.

https://meiyume.com/
2/F HK Spinners Industrial Building, Phases I & II, 800 Cheung Sha Wan Road, Kowloon, Hong Kong

SOURCE Meiyume