Bullish indicating open at $55-$60, IPO prices at $37
LOS ANGELES - Thumzup Media Corporation (NASDAQ:TZUP) has commenced a best efforts public offering of its newly designated Series D Non-Voting Convertible Preferred Stock, according to a press release issued Friday. The company, currently valued at $159 million, has shown remarkable momentum with a 366% price surge over the past six months, according to InvestingPro data.
The digital advertising company plans to use the net proceeds from the offering to explore cryptocurrency acquisitions and mining equipment purchases, as well as for working capital and general corporate purposes.
Dominari Securities LLC is serving as the sole placement agent for the offering, which is being conducted under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on May 2, 2025, and declared effective on May 30, 2025.
The company noted that the offering is subject to market conditions, with no assurance regarding its completion or final terms.
Thumzup operates a platform that allows users to earn cash for sharing branded content on social media. The company has recently expanded its treasury strategy to include various cryptocurrencies beyond Bitcoin, such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin.
The company is also developing what it describes as a patent-pending "Lifestyle AI Agent Marketplace" aimed at enhancing lifestyle planning through AI-powered experiences.
A preliminary prospectus supplement and accompanying prospectus describing the offering’s terms will be filed with the SEC, according to the press release statement.
In other recent news, Thumzup Media Corporation has announced the closure of a $6.5 million registered direct offering of preferred stock, resulting in approximately $6.04 million in net proceeds after fees and expenses. This offering involved 108,333 shares of Series C Convertible Preferred Stock, which can be converted into common stock. Additionally, the company’s board has approved a significant expansion of its cryptocurrency holdings, allowing for up to $250 million in various cryptocurrencies beyond Bitcoin, including Ether, Solana, Ripple, Dogecoin, Litecoin, and USD Coin. This move is part of Thumzup’s strategy to diversify its crypto asset portfolio. Moreover, Thumzup has achieved a milestone by surpassing 1000 advertiser locations on its AdTech platform, which has shown a Compound Annual Growth Rate of 218%. The platform’s integration with major social media channels has contributed to its rapid growth. These developments underscore Thumzup’s strategic initiatives in both financial and operational areas.
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