Thumzup Media Corporation announced the closing of its registered direct offering with investors, involving the sale and purchase of 108,333 shares of Series C Convertible Preferred Stock. These shares are convertible into an aggregate of 1,083,333 shares of common stock.
The purchase price was $60.00 per share of Series C, functionally equivalent to $6.00 per common share. The net proceeds to the company from this offering were approximately $6.04 million, after deducting placement agent fees and estimated offering expenses.
The company intends to use the net proceeds for general corporate purposes and to explore accumulating other cryptocurrencies. This successful capital raise provides Thumzup with essential funding to advance its strategic initiatives.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.