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Thumzup Media Corp Announces Closing of Upsized Underwritten Public Offering of Shares of Common Stock

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Thumzup Media (Nasdaq: TZUP) has successfully closed an upsized underwritten public offering of 1,425,000 shares of common stock. The deal size increased by $875,000 from $6,250,000 to $7,125,000 in gross proceeds. The company granted underwriters a 45-day over-allotment option to purchase up to additional 213,750 shares. Dawson James Securities acted as the Sole Book-Running Manager. The offering was made through a Form S-1 registration statement declared effective by the SEC on October 28, 2024.

Thumzup Media (Nasdaq: TZUP) ha chiuso con successo un'offerta pubblica sottoscritta ampliata di 1.425.000 azioni di azioni ordinarie. La dimensione dell'operazione è aumentata di $875.000, passando da $6.250.000 a $7.125.000 in proventi lordi. La società ha concesso ai sottoscrittori un'opzione di sovrallocazione di 45 giorni per acquistare ulteriori 213.750 azioni. Dawson James Securities ha agito come Sole Book-Running Manager. L'offerta è stata effettuata tramite una dichiarazione di registrazione Form S-1 dichiarata efficace dalla SEC il 28 ottobre 2024.

Thumzup Media (Nasdaq: TZUP) ha cerrado con éxito una oferta pública garantizada ampliada de 1,425,000 acciones de acciones ordinarias. El tamaño del acuerdo aumentó en $875,000 de $6,250,000 a $7,125,000 en ingresos brutos. La compañía otorgó a los suscriptores una opción de sobreasignación de 45 días para comprar hasta 213,750 acciones adicionales. Dawson James Securities actuó como el Gerente Único de Libros. La oferta se realizó a través de una declaración de registro Form S-1 que fue declarada efectiva por la SEC el 28 de octubre de 2024.

Thumzup Media (Nasdaq: TZUP)는 1,425,000주의 보통주에 대한 증액 공모 성공적으로 마감했습니다. 거래 규모는 $6,250,000에서 $7,125,000으로 $875,000 증가했습니다. 회사는 인수인에게 45일의 초과 배정 옵션을 부여하여 추가로 213,750주를 구매할 수 있도록 했습니다. Dawson James Securities는 단독 북런닝 매니저로 활동했습니다. 이 공모는 2024년 10월 28일 SEC에 의해 효력이 발생된 Form S-1 등록을 통해 이루어졌습니다.

Thumzup Media (Nasdaq: TZUP) a réussi à clôturer une offre publique souscrite élargie de 1.425.000 actions de capital ordinaire. La taille de l'opération a augmenté de 875.000 $ passant de 6.250.000 $ à 7.125.000 $ en produits bruts. La société a accordé aux souscripteurs une option de surallocation de 45 jours pour acheter jusqu'à 213.750 actions supplémentaires. Dawson James Securities a agi en tant que Gestionnaire Exclusif de Livres. L'offre a été réalisée par le biais d'une déclaration d'enregistrement de type Form S-1 déclarée efficace par la SEC le 28 octobre 2024.

Thumzup Media (Nasdaq: TZUP) hat erfolgreich ein erhöhtes, unterzeichnetes öffentliches Angebot von 1.425.000 Aktien von Stammaktien abgeschlossen. Die Dealgröße stieg um 875.000 USD von 6.250.000 USD auf 7.125.000 USD an Bruttoeinnahmen. Das Unternehmen gewährte den Underwritern eine 45-tägige Überbezugsoption zum Kauf von bis zu weiteren 213.750 Aktien. Dawson James Securities fungierte als Alleiniger Book-Running-Manager. Das Angebot wurde durch eine Form S-1 Registrierungsanmeldung durchgeführt, die am 28. Oktober 2024 von der SEC für wirksam erklärt wurde.

Positive
  • Successful completion of upsized public offering raising $7.125M in gross proceeds
  • Deal size increased by $875,000 from initial target
  • Additional potential capital through 45-day over-allotment option for 213,750 shares
Negative
  • Potential shareholder dilution from issuance of 1,425,000 new shares
  • Further dilution possible if over-allotment option is exercised
  • Gross proceeds subject to reduction from underwriting discounts and offering expenses

Insights

The successful completion of Thumzup's $7.125 million upsized public offering represents a significant capital injection for this micro-cap company. The deal's 14% increase from the initial $6.25 million suggests strong investor interest. With a current market cap of about $51 million, this offering substantially strengthens their balance sheet, providing important growth capital.

The inclusion of a 45-day over-allotment option for an additional $1.07 million worth of shares (213,750 shares) could further boost the company's capital position. However, investors should note potential dilution effects from the new share issuance. The involvement of Dawson James Securities as the sole book-runner adds credibility to the offering, though the company's small size and early-stage nature make this a speculative investment.

Deal size increased by $875,000 from $6,250,000 to $7,125,000

Los Angeles, CA, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), a leading provider of innovative social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media, today announced the closing of an underwritten public offering of 1,425,000 shares of common stock. In addition, the Company has granted the underwriters a 45-day over-allotment option to purchase up to an additional 213,750 shares of common stock, less underwriting discounts and commissions.

Gross proceeds from the offering are $7,125,000, before deducting underwriting discounts and commissions and offering expenses, but excluding any exercise of the underwriters’ over-allotment option.

Dawson James Securities, Inc., acted as the Sole Book-Running Manager for the offering.

Sichenzia Ross Ference Carmel LLP, New York, NY, represented the Company in connection with the offering, and ArentFox Schiff LLP, Washington, DC, represented the underwriter.

A registration statement on Form S-1 (File No. 333-279828) relating to the common stock sold in this offering was declared effective by the United States Securities and Exchange Commission (“SEC”) at 4:00 p.m. Eastern time on October 28, 2024. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained at the SEC’s website at www.sec.gov or from Dawson James Securities, Inc. Attention: Prospectus Department, 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, investmentbanking@dawsonjames.com or toll free at 866.928.0928.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Thumzup®

Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through PayPal and Venmo.

Thumzup is a publicly traded company (Nasdaq: TZUP). For more information, please visit https://www.thumzupmedia.com.

Legal Disclaimer

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, plans for potential uplisting, and planned expansion. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contact Info
investors@thumzupmedia.com
800-403-6150

Media Contact
Jessica Starman
media@thumzupmedia.com

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FAQ

How much did Thumzup Media (TZUP) raise in its October 2024 public offering?

Thumzup Media raised $7,125,000 in gross proceeds through an underwritten public offering of 1,425,000 shares of common stock.

What is the over-allotment option in Thumzup's (TZUP) October 2024 offering?

Thumzup granted underwriters a 45-day option to purchase up to an additional 213,750 shares of common stock.

Who was the underwriter for Thumzup's (TZUP) October 2024 public offering?

Dawson James Securities acted as the Sole Book-Running Manager for the offering.

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