Thumzup Media Corp Lists Shares on Nasdaq and Prices Upsized Public Offering of Shares of Common Stock to $7,125,000

Rhea-AI Summary

Thumzup Media (Nasdaq: TZUP) has announced the pricing of an underwritten public offering of 1,425,000 shares of common stock at $5.00 per share, totaling $7,125,000. The company has granted underwriters a 45-day over-allotment option for an additional 213,750 shares. The offering is expected to close on October 30, 2024. Thumzup's common stock has been approved for listing on The Nasdaq Capital Market, trading under the symbol 'TZUP' starting October 29th, 2024. Dawson James Securities is serving as the Sole Book-Running Manager for the offering.

Positive

• Successful uplisting to Nasdaq Capital Market
• Raised $7.125 million through public offering
• Potential additional capital through 45-day over-allotment option

Negative

• Dilution of existing shareholders through new share issuance

Los Angeles, CA., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Thumzup Media Corporation ("Thumzup" or the "Company") (OTCQB: TZUP) (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, is pleased to announce the pricing of an underwritten public offering of 1,425,000 shares of common stock, at a price of $5.00 per share (the “Shares”). In addition, the Company has granted the underwriters a 45-day over-allotment option to purchase up to an additional 213,750 Shares, less underwriting discounts and commissions. Closing is expected to occur on October 30, 2024.

In connection with the offering, the Company has been approved for listing common stock on The Nasdaq Capital Market. Its common stock will begin trading on The Nasdaq Capital Market under the existing ticker symbol “TZUP” at the opening of market hours on October 29^th, 2024.

Dawson James Securities, Inc. is acting 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.

This offering is being made by the Company pursuant to a registration statement on Form S-1 (File No. 333-279828), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on October 28, 2024. The securities may only be offered by means of a prospectus. Copies of the prospectus may be obtained, when available, 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 under the ticker symbol 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

What is the price per share for Thumzup's (TZUP) public offering in October 2024?

Thumzup Media priced its public offering at $5.00 per share.

How many shares did Thumzup (TZUP) offer in its October 2024 public offering?

Thumzup offered 1,425,000 shares of common stock, with an additional over-allotment option of 213,750 shares.

When will Thumzup (TZUP) begin trading on the Nasdaq Capital Market?

Thumzup will begin trading on the Nasdaq Capital Market on October 29th, 2024.

What is the total value of Thumzup's (TZUP) October 2024 public offering?

The total value of the public offering is $7,125,000, excluding the over-allotment option.