Thumzup Media Corporation announced the closing of its underwritten public offering of 1,425,000 shares of common stock. The offering generated gross proceeds of $7,125,000, before deducting underwriting discounts, commissions, and offering expenses.
The company had previously granted the underwriters a 45-day overallotment option to purchase up to an additional 213,750 shares of common stock. This successful capital raise provides Thumzup with financial resources to advance its business objectives.
The funds are expected to support the company's operations and growth initiatives in the social media branding and programmatic marketing solutions sector. This closing follows the company's recent listing on The Nasdaq Capital Market.
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