Thumzup Media will conduct a targeted issuance of $6.5 million, raising funds to increase its holdings of cryptocurrency

According to BlockBeats, on July 1st, Thumzup Media Corporation (NASDAQ: TZUP), a company with a market value of approximately $65.7 million, saw its stock price rise by over 100% in the past six months, according to InvestingDro data. The company announced on Monday that it has reached a final agreement with investors to conduct a $6.5 million registered private placement. According to the terms of the agreement, investors will subscribe for up to 1083333 ordinary shares at a price of $6.00 per share, including shares convertible through Series C convertible preferred stock. This issuance includes 179500 non voting Series C preferred shares, with beneficial ownership restrictions of 4.99% and 9.99%. Thumzup stated that the funds raised this time will be used for general corporate purposes and will explore opportunities to further increase holdings of cryptocurrencies. The exclusive placement agent for this issuance is Dominari Securities LLC. The issuance will be based on the valid shelf registration statement on Form S-3, announced by the US Securities and Exchange Commission (SEC) on May 30, 2025. Thumzup positions itself as a 'digital asset accumulator', connecting advertisers and social media users on its platform. Users can earn cash rewards by posting content about collaborating advertisers.