Thumzup Media to Conduct $6.5 Million Private Placement to Raise Funds for Increased Cryptocurrency Holdings

BlockBeats News, July 1 — Thumzup Media Corporation (NASDAQ: TZUP), a company with a market capitalization of approximately $65.7 million, has seen its share price rise by over 100% in the past six months, according to InvestingPro data. On Monday, the company announced that it has entered into a definitive agreement with an institutional investor for a registered direct offering of $6.5 million.

Under the terms of the agreement, the investor will subscribe for up to 1,083,333 shares of common stock at a price of $6.00 per share, including shares issuable upon conversion of Series C convertible preferred stock. The offering includes 179,500 non-voting Series C preferred shares and is subject to beneficial ownership limits of 4.99% and 9.99%. Thumzup stated that the funds raised will be used for general corporate purposes and to explore further opportunities to increase its cryptocurrency holdings.

The exclusive placement agent for this offering is Dominari Securities LLC. The offering will be made pursuant to an effective shelf registration statement on Form S-3, declared effective by the U.S. Securities and Exchange Commission (SEC) on May 30, 2025. Thumzup positions itself as a “digital asset accumulator,” with a platform that connects advertisers and social media users, rewarding users with cash for posting content about participating advertisers.