Thumzup Media Corporation announced that Dawson James Securities, Inc., the underwriter of its recent public offering, fully exercised its overallotment option. This exercise involved the purchase of an additional 213,750 shares at $5.00 per share.
The full exercise increased the total number of shares sold in the offering to 1,638,750, raising the gross proceeds to approximately $8.2 million. The option closing was set for November 1, 2024.
This additional capital further strengthens Thumzup's financial position, providing more resources for its strategic initiatives and operational expansion following its Nasdaq listing.
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