Thumzup Media will conduct a $6.5 million private placement, with the raised funds to be used to increase cryptocurrency holdings.

BlockBeats News, July 1st, Thumzup Media Corporation (Nasdaq: TZUP), a company with a market capitalization of approximately $65.7 million, has seen its stock price rise by over 100% in the past six months, according to InvestingPro data. The company announced on Monday that it has reached a final agreement with investors to conduct a $6.5 million registered direct offering.

Under the terms of the agreement, investors will subscribe to up to 1,083,333 common shares at a price of $6.00 per share, including shares that may be converted from C Series Convertible Preferred Stock. The offering includes 179,500 shares of non-voting C Series Preferred Stock and features 4.99% and 9.99% beneficial ownership limits. Thumzup stated that the funds raised in this offering will be used for general corporate purposes and to explore further opportunities to increase exposure to cryptocurrency.

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 by the U.S. Securities and Exchange Commission (SEC) on May 30, 2025. Thumzup positions itself as a "digital asset accumulator," with its platform connecting advertisers with social media users who can earn cash rewards by posting content about partner advertisers.