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LOS ANGELES - Thumzup Media Corporation (NASDAQ:TZUP), a $160 million market cap digital media company whose stock has surged over 350% year-to-date according to InvestingPro data, announced Saturday it has modified the terms of its previously disclosed best efforts public offering to now include common stock and pre-funded warrants to purchase shares of its common stock for certain investors.
The digital asset accumulator and advertising platform operator intends to use net proceeds from the offering to explore cryptocurrency accumulation and mining equipment purchases, as well as for working capital and general corporate purposes. The company maintains a healthy liquidity position with a current ratio of 3.36, indicating strong ability to meet short-term obligations.
Dominari Securities LLC is serving as the sole placement agent for the offering, which is being conducted pursuant to 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 remains subject to market conditions, with no assurance regarding its completion timeline, final size, or terms.
A preliminary prospectus supplement and accompanying prospectus describing the offering terms will be filed with the SEC and made available on its website, according to the press release statement.
Thumzup operates a platform that allows users to earn cash for sharing branded content on social media. The company has also expanded its treasury strategy to include various cryptocurrencies beyond Bitcoin, such as Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin. Trading near its 52-week high of $16.49, InvestingPro analysis suggests the stock is slightly overvalued at current levels. Subscribers can access 11 additional ProTips and comprehensive financial metrics for deeper insight into TZUP’s performance and outlook.
In other recent news, Thumzup Media Corporation has been active in financial and strategic initiatives. The company closed a $6.5 million registered direct offering, raising approximately $6.04 million in net proceeds. This offering consisted of Series C Convertible Preferred Stock, convertible into common stock, with specific beneficial ownership limitations. Additionally, Thumzup Media has launched a public offering of Series D Non-Voting Convertible Preferred Stock, aiming to use the proceeds for cryptocurrency acquisitions and mining equipment purchases.
The board of directors has also approved a significant $250 million diversification of its cryptocurrency portfolio, expanding beyond its existing Bitcoin holdings to include Ether, Solana, Ripple, Dogecoin, Litecoin, and USDC. This decision aligns with Thumzup’s strategy to hold a substantial portion of its liquid assets in cryptocurrencies. These developments highlight Thumzup’s ongoing efforts to strengthen its financial position and expand its presence in the cryptocurrency market.
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